Holocene Advisors LP Sells 480,966 Shares of Chewy $CHWY

Key Points

• Holocene Advisors LP reduced its Chewy holding by 6.9% in Q3, selling 480,966 shares and now owning 6,458,085 shares (about a 1.56% stake) worth roughly $261.23 million.
• CTO Satish Mehta sold 13,013 Chewy shares at an average price of $28.99 on Feb. 2, trimming his position by 4.54% to 273,835 shares, while company insiders collectively own just 0.43% of the stock.
• Wall Street maintains a "Moderate Buy" consensus on CHWY (17 Buys, 4 Holds) with an average price target of $45.55, though several analysts have recently lowered targets (e.g., Barclays to $48, TD Cowen to $39).

Holocene Advisors LP cut its position in Chewy (NYSE:CHWY - Free Report) by 6.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,458,085 shares of the company's stock after selling 480,966 shares during the period. Holocene Advisors LP owned 1.56% of Chewy worth $261,230,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CHWY. Winslow Asset Management Inc. bought a new position in shares of Chewy in the 3rd quarter worth $6,171,000. Nordea Investment Management AB bought a new stake in Chewy during the 3rd quarter valued at $6,967,000. Federated Hermes Inc. raised its holdings in Chewy by 2,715.2% during the third quarter. Federated Hermes Inc. now owns 664,079 shares of the company's stock worth $26,862,000 after buying an additional 640,490 shares during the last quarter. WINTON GROUP Ltd raised its holdings in Chewy by 110.6% during the third quarter. WINTON GROUP Ltd now owns 239,800 shares of the company's stock worth $9,700,000 after buying an additional 125,943 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of Chewy by 8,785.0% in the third quarter. CWM LLC now owns 284,499 shares of the company's stock valued at $11,508,000 after buying an additional 281,297 shares in the last quarter. 93.09% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Chewy news, CTO Satish Mehta sold 13,013 shares of the company's stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $28.99, for a total value of $377,246.87. Following the completion of the sale, the chief technology officer directly owned 273,835 shares of the company's stock, valued at approximately $7,938,476.65. This represents a 4.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.43% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CHWY shares. Barclays reduced their price objective on shares of Chewy from $52.00 to $48.00 and set an "overweight" rating for the company in a report on Thursday, March 5th. Needham & Company LLC reaffirmed a "hold" rating on shares of Chewy in a research report on Thursday, December 11th. Raymond James Financial upgraded Chewy from a "market perform" rating to an "outperform" rating and set a $28.00 price target for the company in a research note on Thursday, February 19th. Weiss Ratings reissued a "hold (c)" rating on shares of Chewy in a report on Wednesday, January 21st. Finally, TD Cowen lowered their price objective on Chewy from $48.00 to $39.00 and set a "buy" rating for the company in a research note on Tuesday, March 10th. Seventeen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $45.55.

Chewy Price Performance

NYSE CHWY opened at $25.46 on Monday. The company has a fifty day moving average price of $28.46 and a 200-day moving average price of $33.21. The firm has a market cap of $10.57 billion, a price-to-earnings ratio of 53.04, a PEG ratio of 1.72 and a beta of 1.60. Chewy has a 1 year low of $23.06 and a 1 year high of $48.62.

About Chewy

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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