Chewy $CHWY Shares Bought by Eventide Asset Management LLC

Key Points

• Eventide Asset Management LLC raised its stake in Chewy by 32.2% in Q3 to 1,409,144 shares (about $56.99M), representing roughly 0.34% of the company.
• Chewy beat quarterly EPS estimates ($0.32 vs. $0.31) and reported revenue of $3.12B (up 8.1% YoY); the stock trades near $25.46 with a market cap of $10.57B and a P/E of 53.04.
• Institutional ownership is very high (~93.09%); Viking Global opened a new position valued at $221.8M, and analysts maintain a consensus Moderate Buy with a $45.55 target.

Eventide Asset Management LLC lifted its stake in shares of Chewy (NYSE:CHWY - Free Report) by 32.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,409,144 shares of the company's stock after acquiring an additional 343,572 shares during the period. Eventide Asset Management LLC owned 0.34% of Chewy worth $56,989,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CHWY. Candlestick Capital Management LP grew its holdings in Chewy by 10.3% in the third quarter. Candlestick Capital Management LP now owns 1,476,101 shares of the company's stock valued at $59,708,000 after purchasing an additional 137,382 shares during the period. California Public Employees Retirement System acquired a new position in Chewy during the third quarter worth approximately $14,275,000. Anson Funds Management LP purchased a new position in Chewy during the third quarter worth approximately $1,416,000. Alliancebernstein L.P. boosted its holdings in shares of Chewy by 62.0% in the 3rd quarter. Alliancebernstein L.P. now owns 406,822 shares of the company's stock valued at $16,456,000 after purchasing an additional 155,652 shares during the last quarter. Finally, Viking Global Investors LP acquired a new position in shares of Chewy in the 3rd quarter valued at $221,815,000. 93.09% of the stock is owned by institutional investors and hedge funds.

Chewy Stock Up 3.5%

Chewy stock opened at $25.46 on Friday. The firm has a fifty day moving average of $28.46 and a 200-day moving average of $33.26. Chewy has a 52-week low of $23.06 and a 52-week high of $48.62. The firm has a market capitalization of $10.57 billion, a P/E ratio of 53.04, a PEG ratio of 1.72 and a beta of 1.60.

Chewy (NYSE:CHWY - Get Free Report) last posted its earnings results on Wednesday, December 10th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.01. Chewy had a net margin of 1.64% and a return on equity of 56.78%. The business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter in the previous year, the business posted $0.20 EPS. The business's quarterly revenue was up 8.1% on a year-over-year basis. On average, research analysts expect that Chewy will post 0.24 EPS for the current fiscal year.

Insider Buying and Selling

In other Chewy news, CTO Satish Mehta sold 13,013 shares of the business's stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $28.99, for a total transaction of $377,246.87. Following the transaction, the chief technology officer owned 273,835 shares in the company, valued at $7,938,476.65. The trade was a 4.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.43% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently commented on CHWY. Wedbush set a $42.00 price objective on Chewy and gave the stock an "outperform" rating in a report on Wednesday, December 10th. Weiss Ratings reiterated a "hold (c)" rating on shares of Chewy in a report on Wednesday, January 21st. Citigroup reissued a "market outperform" rating on shares of Chewy in a research report on Monday, November 24th. Wolfe Research set a $44.00 price target on Chewy in a research note on Monday, January 5th. Finally, Raymond James Financial upgraded Chewy from a "market perform" rating to an "outperform" rating and set a $28.00 price objective on the stock in a report on Thursday, February 19th. Seventeen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $45.55.

Chewy Profile

Chewy, Inc NYSE: CHWY is a leading e-commerce retailer specializing in pet food, supplies and services. The company offers a comprehensive assortment of products for dogs, cats, fish, birds and other small animals, including prescription medications, veterinary health products, grooming essentials and toys. Through its online platform and mobile app, Chewy provides an intuitive shopping experience with features such as Autoship, ensuring regular deliveries of pet essentials at schedule intervals.

Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated under the name Mr.

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