Dynamic Technology Lab Private Ltd Makes New $2.61 Million Investment in Chewy $CHWY

Key Points

• Dynamic Technology Lab Private Ltd made a new investment of approximately $2.61 million in Chewy, acquiring 80,400 shares during the first quarter.
• Several institutional investors have significantly increased their holdings in Chewy, with NewEdge Advisors LLC raising its stake by over 5,200%.
• Chewy's stock has received varied analyst ratings, with one rating a "strong-buy," while the consensus rating remains a "Moderate Buy" with a target price of $43.78.

Dynamic Technology Lab Private Ltd purchased a new position in Chewy (NYSE:CHWY - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 80,400 shares of the company's stock, valued at approximately $2,614,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CHWY. Scientech Research LLC acquired a new position in Chewy during the first quarter worth $847,000. Rip Road Capital Partners LP raised its holdings in Chewy by 19.1% during the first quarter. Rip Road Capital Partners LP now owns 188,394 shares of the company's stock worth $6,125,000 after buying an additional 30,200 shares during the last quarter. NewEdge Advisors LLC raised its holdings in Chewy by 5,238.3% during the first quarter. NewEdge Advisors LLC now owns 32,510 shares of the company's stock worth $1,057,000 after buying an additional 31,901 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Chewy during the first quarter worth $510,000. Finally, Eventide Asset Management LLC acquired a new position in Chewy during the first quarter worth $13,453,000. Institutional investors own 93.09% of the company's stock.

Insiders Place Their Bets

In other news, major shareholder Argos Holdings Gp Llc sold 29,940,120 shares of the firm's stock in a transaction on 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Satish Mehta sold 8,727 shares of the firm's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $35.82, for a total value of $312,601.14. Following the sale, the chief technology officer directly owned 276,467 shares of the company's stock, valued at approximately $9,903,047.94. This represents a 3.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,008,777 shares of company stock valued at $1,252,444,321. 0.43% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Citizens Jmp upgraded shares of Chewy to a "strong-buy" rating in a report on Thursday, July 10th. Mizuho cut Chewy from an "outperform" rating to a "neutral" rating and lifted their target price for the company from $43.00 to $47.00 in a research report on Monday, June 9th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $44.00 target price (up previously from $42.00) on shares of Chewy in a research report on Thursday, June 12th. Wall Street Zen downgraded shares of Chewy from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Chewy in a report on Thursday, June 12th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat.com, Chewy has a consensus rating of "Moderate Buy" and an average price target of $43.78.

Chewy Trading Up 2.8%

Shares of CHWY opened at $42.31 on Friday. The company has a market capitalization of $17.57 billion, a price-to-earnings ratio of 47.54, a PEG ratio of 8.84 and a beta of 1.65. The stock has a 50 day moving average of $38.84 and a 200 day moving average of $38.22. Chewy has a 12 month low of $25.21 and a 12 month high of $48.62.

Chewy (NYSE:CHWY - Get Free Report) last announced its earnings results on Wednesday, June 11th. The company reported $0.35 earnings per share (EPS) for the quarter, beating 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 last year, the firm posted $0.31 EPS. The business's revenue was up 6.3% compared to the same quarter last year. Chewy has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Chewy will post 0.24 earnings per share for the current year.

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.

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