Assenagon Asset Management S.A. Reduces Stake in Chewy $CHWY

Key Points

• Assenagon Asset Management S.A. reduced its stake in Chewy by 59.7%, selling 1,126,933 shares, and now holds 761,420 shares valued at approximately $32.4 million.
• Chewy reported Q2 earnings that missed analysts' expectations, posting $0.14 EPS compared to the $0.33 consensus, while revenues increased by 8.6% year-over-year.
• Analysts have mixed views on Chewy, with a consensus rating of "Moderate Buy" and a price target averaging around $45.72, reflecting various upgrades and downgrades recently reported.

Assenagon Asset Management S.A. reduced its position in shares of Chewy (NYSE:CHWY - Free Report) by 59.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 761,420 shares of the company's stock after selling 1,126,933 shares during the period. Assenagon Asset Management S.A. owned 0.18% of Chewy worth $32,452,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in CHWY. Vident Advisory LLC bought a new position in shares of Chewy during the fourth quarter valued at about $336,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Chewy by 22.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 291,837 shares of the company's stock worth $9,774,000 after purchasing an additional 54,381 shares during the period. Mackenzie Financial Corp bought a new stake in shares of Chewy during the 4th quarter worth $318,000. Polar Asset Management Partners Inc. boosted its holdings in shares of Chewy by 26.5% in the 4th quarter. Polar Asset Management Partners Inc. now owns 288,733 shares of the company's stock worth $9,670,000 after buying an additional 60,533 shares during the last quarter. Finally, Integrated Advisors Network LLC bought a new position in Chewy during the fourth quarter valued at about $235,000. 93.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on CHWY shares. Wedbush reaffirmed an "outperform" rating and issued a $45.00 price objective on shares of Chewy in a research report on Thursday, September 11th. Deutsche Bank Aktiengesellschaft upgraded shares of Chewy from a "hold" rating to a "buy" rating and set a $45.00 price target for the company in a research note on Thursday, September 11th. JMP Securities reiterated a "market outperform" rating and issued a $48.00 price objective on shares of Chewy in a research note on Thursday, September 11th. Wall Street Zen lowered Chewy from a "buy" rating to a "hold" rating in a report on Sunday. Finally, Robert W. Baird lowered their target price on Chewy from $52.00 to $48.00 and set an "outperform" rating on the stock in a research note on Thursday, September 11th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Chewy presently has a consensus rating of "Moderate Buy" and an average price target of $45.72.

Insider Transactions at Chewy

In other news, CAO William G. Billings sold 20,142 shares of the company's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $35.57, for a total value of $716,450.94. Following the completion of the transaction, the chief accounting officer directly owned 29,464 shares in the company, valued at approximately $1,048,034.48. This represents a 40.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sumit Singh sold 4,264 shares of the firm's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $35.57, for a total value of $151,670.48. Following the transaction, the chief executive officer directly owned 72,549 shares in the company, valued at approximately $2,580,567.93. This represents a 5.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 30,008,777 shares of company stock worth $1,252,444,321. 0.43% of the stock is currently owned by company insiders.

Chewy Price Performance

NYSE:CHWY traded down $0.85 during trading hours on Monday, hitting $37.64. The stock had a trading volume of 6,472,387 shares, compared to its average volume of 9,153,597. The company has a 50 day simple moving average of $38.34 and a two-hundred day simple moving average of $38.41. Chewy has a one year low of $26.28 and a one year high of $48.62. The firm has a market capitalization of $15.61 billion, a price-to-earnings ratio of 107.54, a P/E/G ratio of 9.56 and a beta of 1.65.

Chewy (NYSE:CHWY - Get Free Report) last announced its quarterly earnings results on Wednesday, September 10th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.19). Chewy had a net margin of 1.22% and a return on equity of 50.45%. The firm had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the previous year, the business earned $0.24 earnings per share. The firm's revenue for the quarter was up 8.6% on a year-over-year basis. Chewy has set its FY 2025 guidance at EPS. Q3 2025 guidance at 0.280-0.330 EPS. Equities research analysts anticipate that Chewy will post 0.24 earnings per share for the current year.

Chewy 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.