Chewy $CHWY Shares Sold by Durable Capital Partners LP

Key Points

• Durable Capital Partners LP has significantly reduced its stake in Chewy by selling over 2 million shares, resulting in an 85.1% decrease in ownership to approximately 351,266 shares valued at $11.42 million.
• Insider trading activity has seen major sales, including the CAO selling 20,142 shares and Argos Holdings selling nearly 30 million shares, indicating heightened insider selling at Chewy.
• Despite recent sell-offs, Chewy's stock price has shown resilience, recently opening at $40.99, and analysts maintain a generally positive outlook with several upgrades and a target price range between $44 and $50.

Durable Capital Partners LP lowered its holdings in Chewy (NYSE:CHWY - Free Report) by 85.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 351,266 shares of the company's stock after selling 2,009,151 shares during the period. Durable Capital Partners LP owned approximately 0.08% of Chewy worth $11,420,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Parallel Advisors LLC grew its holdings in 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 purchasing an additional 473 shares in the last quarter. Banque Transatlantique SA acquired a new stake in Chewy during the 4th quarter valued at $30,000. Golden State Wealth Management LLC grew its holdings in Chewy by 104.6% during the 1st quarter. Golden State Wealth Management LLC now owns 941 shares of the company's stock valued at $31,000 after purchasing an additional 481 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new stake in Chewy during the 1st quarter valued at $44,000. Finally, North Star Investment Management Corp. grew its holdings in Chewy by 26.6% during the 1st quarter. North Star Investment Management Corp. now owns 1,678 shares of the company's stock valued at $55,000 after purchasing an additional 353 shares in the last quarter. Institutional investors and hedge funds own 93.09% of the company's stock.

Wall Street Analysts Forecast Growth

CHWY has been the subject of a number of recent analyst reports. Barclays raised their price target on shares of Chewy from $44.00 to $50.00 and gave the company an "overweight" rating in a report on Wednesday, May 28th. Citigroup reissued an "outperform" rating on shares of Chewy in a report on Thursday, July 10th. Wall Street Zen lowered shares of Chewy from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. JPMorgan Chase & Co. raised their price objective on shares of Chewy from $36.00 to $47.00 and gave the stock an "overweight" rating in a report on Thursday, June 12th. Finally, Citizens Jmp raised shares of Chewy to a "strong-buy" rating in a report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $43.78.

Chewy Price Performance

Shares of NYSE CHWY traded up $0.38 during mid-day trading on Thursday, hitting $41.13. The company had a trading volume of 4,903,452 shares, compared to its average volume of 6,287,192. Chewy has a 12 month low of $25.19 and a 12 month high of $48.62. The stock has a market cap of $17.08 billion, a price-to-earnings ratio of 46.22, a PEG ratio of 8.55 and a beta of 1.65. The firm's 50 day simple moving average is $38.89 and its two-hundred day simple moving average is $38.17.

Chewy (NYSE:CHWY - Get Free Report) last issued its earnings results on Wednesday, June 11th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. The firm had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.08 billion. Chewy had a return on equity of 35.04% and a net margin of 3.21%.The firm's revenue for the quarter was up 6.3% on a year-over-year basis. During the same period last year, the company earned $0.31 earnings per share. Chewy has set its FY 2025 guidance at EPS. Equities analysts forecast that Chewy will post 0.24 earnings per share for the current year.

Insider Activity

In other Chewy news, CEO Sumit Singh sold 29,557 shares of the company'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 $1,051,342.49. Following the completion of the transaction, the chief executive officer owned 540,406 shares in the company, valued at approximately $19,222,241.42. This represents a 5.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Argos Holdings Gp Llc sold 29,940,120 shares of the company's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $41.75, for a total transaction of $1,250,000,010.00. The disclosure for this sale can be found here. Insiders have sold a total of 30,008,777 shares of company stock worth $1,252,444,321 in the last quarter. Company insiders own 0.43% of the company's stock.

About Chewy

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.