ProShare Advisors LLC Sells 53,224 Shares of Chewy $CHWY

Key Points

• ProShare Advisors cut its Chewy stake by 17.2%, selling 53,224 shares in the third quarter; it retained 256,888 shares, valued at about $4.675 million.
• Analysts give Chewy a “Moderate Buy” consensus with an average price target of $30.45. Recent target cuts included Mizuho’s reduction to $28 and TD Cowen’s to $32.
• Chewy reported quarterly EPS of $0.36, beating the $0.18 consensus, while revenue of $3.33 billion topped estimates slightly and grew 7.3% year over year.

ProShare Advisors LLC reduced its holdings in shares of Chewy (NYSE:CHWY - Free Report) by 17.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 256,888 shares of the company's stock after selling 53,224 shares during the quarter. ProShare Advisors LLC owned approximately 0.06% of Chewy worth $4,675,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Vise Technologies Inc. raised its position in shares of Chewy by 33.0% during the 3rd quarter. Vise Technologies Inc. now owns 20,429 shares of the company's stock worth $372,000 after acquiring an additional 5,073 shares in the last quarter. Choreo LLC acquired a new position in Chewy in the third quarter valued at approximately $223,000. Motley Fool Asset Management LLC increased its stake in Chewy by 11.2% in the third quarter. Motley Fool Asset Management LLC now owns 12,797 shares of the company's stock valued at $233,000 after purchasing an additional 1,287 shares during the last quarter. Corecam Pte. Ltd. increased its stake in Chewy by 12.8% in the third quarter. Corecam Pte. Ltd. now owns 21,284 shares of the company's stock valued at $387,000 after purchasing an additional 2,409 shares during the last quarter. Finally, Citizens Financial Group Inc. RI purchased a new position in Chewy in the third quarter valued at approximately $294,000. Hedge funds and other institutional investors own 93.09% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Citigroup reaffirmed a "market outperform" rating on shares of Chewy in a research report on Thursday, September 10th. Mizuho reduced their price target on shares of Chewy from $32.00 to $28.00 and set an "outperform" rating for the company in a research report on Tuesday, September 29th. Citizens Jmp reissued a "market outperform" rating and issued a $28.00 price target on shares of Chewy in a research report on Thursday, September 10th. Weiss Ratings upgraded shares of Chewy from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, September 28th. Finally, TD Cowen dropped their price objective on Chewy from $34.00 to $32.00 and set a "buy" rating on the stock in a report on Thursday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, Chewy has an average rating of "Moderate Buy" and an average price target of $30.45.

Chewy Stock Performance

Chewy stock opened at $23.02 on Friday. The stock has a fifty day moving average price of $20.82 and a 200 day moving average price of $23.15. Chewy has a 52 week low of $17.40 and a 52 week high of $37.34. The firm has a market capitalization of $9.25 billion, a P/E ratio of 34.87, a PEG ratio of 0.97 and a beta of 1.33. The company has a current ratio of 0.84, a quick ratio of 0.42 and a debt-to-equity ratio of 1.59.

Chewy (NYSE:CHWY - Get Free Report) last announced its quarterly earnings results on Wednesday, September 9th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.18. The firm had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.32 billion. Chewy had a return on equity of 60.88% and a net margin of 2.09%. The firm's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.33 EPS. Equities research analysts anticipate that Chewy will post 0.76 earnings per share for the current year.

Key Chewy News

Here are the key news stories impacting Chewy this week:

• Positive Sentiment: Chewy launched its Spirited Paw pet-supplement line, which may broaden its pet-health offering and support growth in that category. Article: Chewy Stock Gets A Pet Supplements Boost With Spirited Paw Launch
• Positive Sentiment: Holiday-themed promotions could help Chewy attract seasonal shopping and engagement, though the article provides no sales figures. Article: Move Over, Santa—Chewy Claus Is Here to Spoil Your Pets This Holiday Season
• Neutral Sentiment: A comparison of Chewy and GameStop highlighted Chewy’s pet-health services and subscription-based revenue model as parts of its investment case, but offered no new company-specific results. Article: Chewy vs. GameStop: Which Consumer Stock Is a Better Buy for 2027?
• Negative Sentiment: CEO Sumit Singh sold 23,002 shares and Chief Accounting Officer William Billings sold 4,815 shares. The sales may weigh on sentiment, although both were made under pre-arranged Rule 10b5-1 plans; Singh retained a substantial stake. Article: Chewy CEO Sells Stock

Insiders Place Their Bets

In other Chewy news, CAO William G. Billings sold 4,815 shares of the stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $23.00, for a total transaction of $110,745.00. Following the completion of the transaction, the chief accounting officer directly owned 36,595 shares in the company, valued at $841,685. This represents a 11.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sumit Singh sold 3,228 shares of the business's stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $21.40, for a total transaction of $69,079.20. Following the completion of the sale, the chief executive officer owned 127,481 shares in the company, valued at $2,728,093.40. This represents a 2.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 48,328 shares of company stock worth $1,035,010 over the last ninety days. 0.34% of the stock is owned by insiders.

Chewy Profile

Chewy, Inc is an e-commerce company focused on pet products and services. Through its website and mobile platforms, the company sells pet food, treats, toys, supplies, and accessories for dogs, cats, fish, birds, reptiles, and other household pets.

Chewy also offers pet medications and veterinary-related products through its online pharmacy, as well as services such as Autoship subscriptions, which allow customers to schedule recurring deliveries. Its assortment includes national brands and private-label products, and the company emphasizes customer service, convenience, and personalized recommendations.

Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated as an online pet-food retailer before expanding into a broader pet-commerce platform.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.