Quantbot Technologies LP Makes New $3.59 Million Investment in Chewy $CHWY

Key Points

• Quantbot Technologies LP has made a significant investment in Chewy, purchasing 110,470 shares valued at approximately $3,591,000 during the first quarter.
• Insider trading activity includes CTO Satish Mehta and CAO William G. Billings selling thousands of shares, indicating a decrease in their ownership positions.
• Analysts are bullish on Chewy, with several upgrading their ratings and price targets, contributing to a current consensus rating of "Moderate Buy" with an average price target of $43.78.

Quantbot Technologies LP acquired a new position in Chewy (NYSE:CHWY - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 110,470 shares of the company's stock, valued at approximately $3,591,000.

Other institutional investors also recently modified their holdings of the company. Durable Capital Partners LP purchased a new stake in shares of Chewy during the fourth quarter valued at approximately $79,050,000. Assenagon Asset Management S.A. purchased a new stake in shares of Chewy during the first quarter valued at approximately $61,390,000. Alyeska Investment Group L.P. boosted its stake in shares of Chewy by 6,336.6% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,609,149 shares of the company's stock valued at $53,890,000 after purchasing an additional 1,584,149 shares during the period. Neuberger Berman Group LLC boosted its stake in shares of Chewy by 35.7% during the first quarter. Neuberger Berman Group LLC now owns 2,304,006 shares of the company's stock valued at $74,903,000 after purchasing an additional 606,526 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Chewy in the first quarter worth $19,552,000. 93.09% of the stock is currently owned by institutional investors.

Chewy Stock Down 1.4%

Shares of Chewy stock traded down $0.5590 during trading hours on Friday, reaching $39.5810. 7,076,905 shares of the stock traded hands, compared to its average volume of 6,362,788. Chewy has a one year low of $25.19 and a one year high of $48.62. The firm has a market capitalization of $16.43 billion, a price-to-earnings ratio of 44.47, a P/E/G ratio of 8.38 and a beta of 1.67. The company has a 50 day moving average price of $39.15 and a 200 day moving average price of $38.01.

Chewy (NYSE:CHWY - Get Free Report) last posted its quarterly earnings data on Wednesday, June 11th. The company reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $3.08 billion. During the same period in the previous year, the firm earned $0.31 EPS. The business's quarterly revenue was up 6.3% on a year-over-year basis. Chewy has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Chewy will post 0.24 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Sumit Singh sold 29,557 shares of the business's 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 approximately $19,222,241.42. The trade was a 5.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Argos Holdings Gp Llc sold 29,940,120 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $41.75, for a total value of $1,250,000,010.00. The disclosure for this sale can be found here. Insiders sold 30,008,777 shares of company stock valued at $1,252,444,321 in the last 90 days. Corporate insiders own 0.43% of the company's stock.

Analysts Set New Price Targets

CHWY has been the subject of a number of research analyst reports. JMP Securities raised their price target on Chewy from $39.00 to $48.00 and gave the stock a "market outperform" rating in a research note on Thursday, July 10th. Guggenheim reaffirmed a "buy" rating and issued a $45.00 price target (up previously from $42.00) on shares of Chewy in a research note on Thursday, June 12th. JPMorgan Chase & Co. raised their price target on Chewy from $36.00 to $47.00 and gave the stock an "overweight" rating in a research note on Thursday, June 12th. Barclays raised their price objective on Chewy from $44.00 to $50.00 and gave the company an "overweight" rating in a research report on Wednesday, May 28th. Finally, Mizuho downgraded Chewy from an "outperform" rating to a "neutral" rating and raised their price target for the company from $43.00 to $47.00 in a report on Monday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $43.78.

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.