Jump Financial LLC Takes Position in Chewy $CHWY

Key Points

• Jump Financial LLC acquired a new position in Chewy, purchasing 161,835 shares valued at approximately $5.26 million during the first quarter.
• Insider selling included major shareholder Argos Holdings selling over 29.9 million shares for a total of $1.25 billion, with other insiders also reducing their stakes.
• Chewy reported earnings of $0.35 per share in its last quarterly report, exceeding analyst expectations, and had a market capitalization of approximately $16.43 billion.

Jump Financial LLC bought a new position in Chewy (NYSE:CHWY - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 161,835 shares of the company's stock, valued at approximately $5,261,000.

Other large investors have also added to or reduced their stakes in the company. Aigen Investment Management LP bought a new position in Chewy in the 1st quarter worth about $791,000. Jefferies Financial Group Inc. bought a new position in Chewy in the 1st quarter worth about $3,251,000. D.A. Davidson & CO. boosted its stake in Chewy by 38.7% in the 1st quarter. D.A. Davidson & CO. now owns 43,725 shares of the company's stock worth $1,422,000 after purchasing an additional 12,206 shares during the period. Polar Asset Management Partners Inc. boosted its stake in Chewy by 26.5% in the 4th quarter. Polar Asset Management Partners Inc. now owns 288,733 shares of the company's stock worth $9,670,000 after purchasing an additional 60,533 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in Chewy by 74.5% in the 1st quarter. Victory Capital Management Inc. now owns 139,889 shares of the company's stock worth $4,548,000 after purchasing an additional 59,711 shares during the period. Institutional investors own 93.09% of the company's stock.

Chewy Stock Up 2.4%

Shares of NYSE CHWY traded up $0.99 during trading hours on Thursday, reaching $41.43. 4,115,350 shares of the stock traded hands, compared to its average volume of 6,312,850. The company has a market capitalization of $17.20 billion, a P/E ratio of 46.55, a price-to-earnings-growth ratio of 8.51 and a beta of 1.67. Chewy has a 52-week low of $25.19 and a 52-week high of $48.62. The company's 50-day simple moving average is $39.08 and its two-hundred day simple moving average is $38.06.

Chewy (NYSE:CHWY - Get Free Report) last announced 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. The business had revenue of $3.12 billion for the quarter, compared to analysts' expectations of $3.08 billion. Chewy had a return on equity of 35.04% and a net margin of 3.21%.The business's quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.31 EPS. Chewy has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Chewy will post 0.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Chewy news, CEO Sumit Singh sold 29,557 shares of Chewy stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $35.57, for a total value of $1,051,342.49. Following the transaction, the chief executive officer directly owned 540,406 shares of the company's stock, valued at $19,222,241.42. The trade was a 5.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO William G. Billings sold 20,142 shares of the business's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $35.57, for a total value of $716,450.94. Following the transaction, the chief accounting officer directly owned 29,464 shares in the company, valued at $1,048,034.48. This trade represents a 40.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,008,777 shares of company stock valued at $1,252,444,321 over the last quarter. Company insiders own 0.43% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on CHWY shares. JPMorgan Chase & Co. raised their price target on Chewy from $36.00 to $47.00 and gave the company an "overweight" rating in a report on Thursday, June 12th. Citigroup reiterated an "outperform" rating on shares of Chewy in a research report on Thursday, July 10th. Morgan Stanley reiterated an "overweight" rating and set a $50.00 price target (up previously from $39.00) on shares of Chewy in a research report on Thursday, June 12th. Jefferies Financial Group reiterated a "hold" rating and set a $43.00 price target (up previously from $41.00) on shares of Chewy in a research report on Thursday, June 5th. Finally, Mizuho downgraded Chewy from an "outperform" rating to a "neutral" rating and lifted their price target for the company from $43.00 to $47.00 in a research report on Monday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, Chewy currently has an average rating of "Moderate Buy" and a consensus price target of $43.78.

Chewy Company 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.