Assenagon Asset Management S.A. Makes New $61.39 Million Investment in Chewy, Inc. (NYSE:CHWY)

Assenagon Asset Management S.A. purchased a new stake in shares of Chewy, Inc. (NYSE:CHWY - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,888,353 shares of the company's stock, valued at approximately $61,390,000. Assenagon Asset Management S.A. owned 0.46% of Chewy at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Parallel Advisors LLC raised its position in shares of Chewy by 150.2% during the 1st quarter. Parallel Advisors LLC now owns 788 shares of the company's stock valued at $26,000 after acquiring an additional 473 shares during the last quarter. Banque Transatlantique SA bought a new position in Chewy in the 4th quarter valued at about $30,000. UMB Bank n.a. increased its holdings in shares of Chewy by 225.7% during the first quarter. UMB Bank n.a. now owns 1,866 shares of the company's stock worth $61,000 after purchasing an additional 1,293 shares during the period. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Chewy during the 4th quarter worth approximately $67,000. Finally, Allworth Financial LP boosted its position in Chewy by 52.0% in the fourth quarter. Allworth Financial LP now owns 1,900 shares of the company's stock valued at $71,000 after buying an additional 650 shares in the last quarter. Institutional investors and hedge funds own 93.09% of the company's stock.

Chewy Stock Performance

CHWY stock traded up $0.41 during midday trading on Friday, reaching $41.62. 7,209,845 shares of the company were exchanged, compared to its average volume of 6,951,483. The company has a market cap of $17.22 billion, a price-to-earnings ratio of 45.74, a price-to-earnings-growth ratio of 2.21 and a beta of 1.75. The stock's 50-day simple moving average is $39.84 and its 200 day simple moving average is $36.66. Chewy, Inc. has a 1-year low of $19.75 and a 1-year high of $48.62.

Chewy (NYSE:CHWY - Get Free Report) last posted its quarterly earnings results on Wednesday, June 11th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The company had revenue of $3.12 billion during the quarter, compared to analysts' expectations of $3.08 billion. During the same quarter in the previous year, the business earned $0.31 EPS. The firm's revenue was up 6.3% on a year-over-year basis. On average, research analysts anticipate that Chewy, Inc. will post 0.24 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO David Reeder sold 11,582 shares of the company's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $36.44, for a total value of $422,048.08. Following the completion of the transaction, the chief financial officer now owns 397,556 shares in the company, valued at $14,486,940.64. This represents a 2.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sumit Singh sold 8,552 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $33.35, for a total transaction of $285,209.20. Following the sale, the chief executive officer now directly owns 62,096 shares in the company, valued at $2,070,901.60. This trade represents a 12.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 236,046 shares of company stock valued at $9,387,635 in the last three months. Insiders own 0.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. JMP Securities reduced their price objective on shares of Chewy from $40.00 to $39.00 and set a "market outperform" rating for the company in a report on Monday, April 14th. Citigroup increased their price target on shares of Chewy from $42.00 to $49.00 and gave the company a "buy" rating in a research report on Thursday. Mizuho cut shares of Chewy from an "outperform" rating to a "neutral" rating and lifted their price target for the company from $43.00 to $47.00 in a research report on Monday, June 9th. Seaport Res Ptn upgraded shares of Chewy to a "hold" rating in a research note on Monday, March 24th. Finally, Wall Street Zen lowered shares of Chewy from a "buy" rating to a "hold" rating in a research report on Saturday. Nine analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, Chewy has a consensus rating of "Moderate Buy" and an average target price of $43.72.

Chewy Company Profile

Chewy, Inc, together with its subsidiaries, engages in the pure play e-commerce business in the United States. It provides pet food and treats, pet supplies and pet medications, and other pet-health products, as well as pet services for dogs, cats, fish, birds, small pets, horses, and reptiles through its retail websites and mobile applications.