Charles Schwab Investment Management Inc. Sells 99,186 Shares of PetMed Express, Inc. $PETS

Key Points

• Charles Schwab Investment Management Inc. has reduced its stake in PetMed Express, Inc. by 90.8%, selling 99,186 shares and leaving them with only 10,000 shares valued at approximately $42,000.
• Several institutional investors have modified their positions in PetMed Express, with Squarepoint Ops LLC increasing its stake by 41.4% and others also acquiring or boosting their holdings.
• PetMed Express has been downgraded from a "hold" to a "sell" rating by Wall Street analysts, with a current consensus target price of $3.20 per share.

Charles Schwab Investment Management Inc. lessened its holdings in shares of PetMed Express, Inc. (NASDAQ:PETS - Free Report) by 90.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,000 shares of the company's stock after selling 99,186 shares during the quarter. Charles Schwab Investment Management Inc.'s holdings in PetMed Express were worth $42,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PETS. Squarepoint Ops LLC lifted its stake in PetMed Express by 41.4% during the fourth quarter. Squarepoint Ops LLC now owns 17,686 shares of the company's stock worth $85,000 after purchasing an additional 5,180 shares during the last quarter. Northern Trust Corp lifted its position in PetMed Express by 13.2% in the 4th quarter. Northern Trust Corp now owns 51,116 shares of the company's stock worth $246,000 after buying an additional 5,953 shares during the last quarter. Bank of America Corp DE lifted its position in PetMed Express by 34.0% in the 4th quarter. Bank of America Corp DE now owns 106,372 shares of the company's stock worth $513,000 after buying an additional 26,984 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in PetMed Express in the first quarter worth approximately $295,000. Finally, Formidable Asset Management LLC grew its position in PetMed Express by 394.5% during the fourth quarter. Formidable Asset Management LLC now owns 135,251 shares of the company's stock valued at $652,000 after acquiring an additional 107,902 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of PetMed Express from a "sell" rating to a "hold" rating in a research note on Friday, September 5th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, PetMed Express currently has a consensus rating of "Sell" and a consensus price target of $3.20.

PetMed Express Stock Performance

Shares of NASDAQ PETS traded down $0.11 during mid-day trading on Wednesday, hitting $2.73. The stock had a trading volume of 140,789 shares, compared to its average volume of 101,456. The business has a 50 day moving average price of $3.20 and a two-hundred day moving average price of $3.53. PetMed Express, Inc. has a 1 year low of $2.72 and a 1 year high of $6.85. The firm has a market cap of $56.40 million, a P/E ratio of 273.27 and a beta of 0.77.

Insider Transactions at PetMed Express

In other news, major shareholder Silvercape Investments Ltd acquired 118,200 shares of the business's stock in a transaction on Friday, August 1st. The shares were acquired at an average cost of $3.21 per share, with a total value of $379,422.00. Following the transaction, the insider owned 2,478,696 shares in the company, valued at $7,956,614.16. The trade was a 5.01% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have bought 271,283 shares of company stock valued at $865,256 over the last ninety days. 1.10% of the stock is owned by corporate insiders.

About PetMed Express

PetMed Express, Inc, together with its subsidiaries, operates as a pet pharmacy in the United States. The company markets prescription and non-prescription pet medications, health products, and other supplies for dogs, cats, and horses. It offers non-prescription medications and supplies, such as flea and tick control products, bone and joint care products, vitamins, treats, nutritional supplements, hygiene products, and household pet supplies; and prescription medications, including heartworm preventatives, flea and tick preventatives, arthritis, dermatitis, thyroid, diabetes, pain medications, heart/blood pressure, and other specialty medications, as well as generic substitutes.