DRW Securities LLC Acquires Shares of 7,202 Chewy $CHWY

Key Points

• DRW Securities LLC acquired a new stake in Chewy, purchasing 7,202 shares valued at approximately $234,000 during the first quarter.
• Several institutional investors have increased their stakes in Chewy, with 93.09% of the stock now owned by hedge funds and other institutions.
• Chewy received multiple rating upgrades from analysts, raising the target price to as high as $50.00, reflecting positive market sentiment towards the company's performance and prospects.

DRW Securities LLC acquired a new position in shares of Chewy (NYSE:CHWY - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 7,202 shares of the company's stock, valued at approximately $234,000.

Other large investors have also modified their holdings of the company. Aigen Investment Management LP bought a new stake in shares of Chewy during the 1st quarter worth $791,000. Jefferies Financial Group Inc. bought a new stake in shares of Chewy during the 1st quarter worth $3,251,000. D.A. Davidson & CO. boosted its holdings in shares of Chewy by 38.7% during the 1st quarter. D.A. Davidson & CO. now owns 43,725 shares of the company's stock worth $1,422,000 after buying an additional 12,206 shares during the period. Polar Asset Management Partners Inc. boosted its holdings in shares of Chewy by 26.5% during 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 period. Finally, Victory Capital Management Inc. lifted its holdings in shares of Chewy by 74.5% during the first quarter. Victory Capital Management Inc. now owns 139,889 shares of the company's stock worth $4,548,000 after buying an additional 59,711 shares during the last quarter. 93.09% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Chewy news, CTO Satish Mehta sold 8,727 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $35.82, for a total transaction of $312,601.14. Following the completion of the transaction, the chief technology officer directly owned 276,467 shares in the company, valued at $9,903,047.94. This represents a 3.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sumit Singh sold 29,557 shares of the firm's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $35.57, for a total value of $1,051,342.49. Following the completion of the sale, the chief executive officer owned 540,406 shares of the company's stock, valued at approximately $19,222,241.42. This trade represents a 5.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,008,777 shares of company stock valued at $1,252,444,321. 0.43% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Citizens Jmp upgraded Chewy to a "strong-buy" rating in a report on Thursday, July 10th. Mizuho lowered Chewy from an "outperform" rating to a "neutral" rating and upped their price target for the stock from $43.00 to $47.00 in a report on Monday, June 9th. JMP Securities upped their price target on Chewy from $39.00 to $48.00 and gave the stock a "market outperform" rating in a report on Thursday, July 10th. JPMorgan Chase & Co. upped their price target on Chewy from $36.00 to $47.00 and gave the stock an "overweight" rating in a report on Thursday, June 12th. Finally, Wall Street Zen lowered Chewy from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $43.78.

Chewy Stock Up 2.8%

Chewy stock traded up $1.15 during mid-day trading on Friday, hitting $42.31. 7,029,970 shares of the company were exchanged, compared to its average volume of 5,728,143. The business has a fifty day moving average of $38.84 and a 200 day moving average of $38.22. Chewy has a 1-year low of $25.21 and a 1-year high of $48.62. The company has a market capitalization of $17.57 billion, a PE ratio of 47.54, a price-to-earnings-growth ratio of 8.59 and a beta of 1.65.

Chewy (NYSE:CHWY - Get Free Report) last released its quarterly earnings data on Wednesday, June 11th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. Chewy had a return on equity of 35.04% and a net margin of 3.21%.The firm had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same period in the prior year, the company posted $0.31 earnings per share. The business's revenue for the quarter was up 6.3% compared to the same quarter last year. Chewy has set its FY 2025 guidance at EPS. Research analysts expect 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.