GSA Capital Partners LLP Invests $2.23 Million in Chewy (NYSE:CHWY)

Key Points

• GSA Capital Partners LLP acquired 68,450 shares of Chewy (NYSE:CHWY) for approximately $2.2 million during the first quarter.
• Chewy reported a 6.3% year-over-year revenue growth of $3.12 billion and earnings per share of $0.35, exceeding analyst estimates.
• Institutional investors own a significant 93.09% of Chewy's stock, highlighting strong interest from major financial entities.

GSA Capital Partners LLP bought a new position in shares of Chewy (NYSE:CHWY - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 68,450 shares of the company's stock, valued at approximately $2,225,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Chewy by 31.8% during the 4th quarter. Vanguard Group Inc. now owns 14,484,717 shares of the company's stock valued at $485,093,000 after purchasing an additional 3,493,926 shares in the last quarter. FMR LLC grew its holdings in Chewy by 32.4% during the 4th quarter. FMR LLC now owns 5,288,757 shares of the company's stock valued at $177,120,000 after purchasing an additional 1,293,428 shares in the last quarter. Clearbridge Investments LLC lifted its stake in shares of Chewy by 47.4% in the fourth quarter. Clearbridge Investments LLC now owns 3,866,680 shares of the company's stock worth $129,495,000 after acquiring an additional 1,243,981 shares in the last quarter. Durable Capital Partners LP acquired a new position in shares of Chewy in the fourth quarter worth about $79,050,000. Finally, Invesco Ltd. lifted its stake in shares of Chewy by 4,577.5% in the fourth quarter. Invesco Ltd. now owns 2,191,146 shares of the company's stock worth $73,381,000 after acquiring an additional 2,144,302 shares in the last quarter. Institutional investors and hedge funds own 93.09% of the company's stock.

Insider Transactions at Chewy

In related news, CEO Sumit Singh sold 148,063 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $40.67, for a total transaction of $6,021,722.21. Following the completion of the sale, the chief executive officer directly owned 705,252 shares of the company's stock, valued at $28,682,598.84. This represents a 17.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 29,940,120 shares of the stock in a transaction that occurred on Wednesday, June 25th. The shares were 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. In the last 90 days, insiders have sold 30,150,508 shares of company stock valued at $1,258,478,067. Corporate insiders own 0.43% of the company's stock.

Wall Street Analyst Weigh In

CHWY has been the topic of several research analyst reports. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $44.00 price target (up previously from $42.00) on shares of Chewy in a research report on Thursday, June 12th. JMP Securities increased their price target on shares of Chewy from $39.00 to $48.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 10th. Guggenheim reaffirmed a "buy" rating and set a $45.00 price target (up previously from $42.00) on shares of Chewy in a research report on Thursday, June 12th. Cowen reaffirmed a "buy" rating on shares of Chewy in a research report on Friday, June 6th. Finally, Deutsche Bank Aktiengesellschaft set a $27.00 price target on shares of Chewy and gave the company a "hold" rating in a report on Monday, April 14th. Nine analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $43.89.

Chewy Stock Performance

Shares of CHWY stock traded down $0.90 during midday trading on Friday, reaching $35.80. 2,784,121 shares of the company were exchanged, compared to its average volume of 6,290,012. Chewy has a 12 month low of $19.75 and a 12 month high of $48.62. The company has a market cap of $14.86 billion, a P/E ratio of 40.32, a PEG ratio of 7.51 and a beta of 1.71. The company's 50 day moving average price is $41.43 and its two-hundred day moving average price is $38.03.

Chewy (NYSE:CHWY - Get Free Report) last released its quarterly earnings results on Wednesday, June 11th. The company reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. Chewy had a net margin of 3.21% and a return on equity of 35.04%. The company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the previous year, the firm earned $0.31 EPS. Chewy's revenue was up 6.3% on a year-over-year basis. As a group, sell-side analysts predict 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.