Sandia Investment Management LP Has $84,000 Stock Position in Chewy, Inc. (NYSE:CHWY)

Sandia Investment Management LP lessened its holdings in shares of Chewy, Inc. (NYSE:CHWY - Free Report) by 75.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,500 shares of the company's stock after selling 7,500 shares during the quarter. Sandia Investment Management LP's holdings in Chewy were worth $84,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mutual of America Capital Management LLC bought a new position in shares of Chewy in the fourth quarter valued at approximately $2,915,000. Raymond James Financial Inc. bought a new stake in shares of Chewy in the 4th quarter worth $69,789,000. Birch Hill Investment Advisors LLC bought a new position in Chewy during the fourth quarter valued at about $1,174,000. Interval Partners LP acquired a new position in Chewy during the fourth quarter worth about $1,536,000. Finally, Money Concepts Capital Corp bought a new stake in Chewy in the fourth quarter worth about $225,000. Institutional investors own 93.09% of the company's stock.

Insider Activity

In other Chewy news, CFO David Reeder sold 7,863 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $36.50, for a total value of $286,999.50. Following the sale, the chief financial officer now owns 11,582 shares of the company's stock, valued at $422,743. This trade represents a 40.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO Satish Mehta sold 71,365 shares of Chewy stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $35.60, for a total value of $2,540,594.00. Following the completion of the transaction, the chief technology officer now directly owns 262,853 shares in the company, valued at approximately $9,357,566.80. This represents a 21.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 307,411 shares of company stock valued at $11,928,229. 2.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CHWY shares. JPMorgan Chase & Co. cut their price objective on Chewy from $40.00 to $36.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Mizuho upped their price objective on shares of Chewy from $42.00 to $43.00 and gave the company an "outperform" rating in a research note on Thursday, March 27th. Seaport Res Ptn raised shares of Chewy to a "hold" rating in a research report on Monday, March 24th. Needham & Company LLC restated a "hold" rating on shares of Chewy in a research report on Thursday, March 27th. Finally, Morgan Stanley lowered their price objective on shares of Chewy from $40.00 to $39.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $38.47.

Chewy Stock Up 2.2%

CHWY stock traded up $0.97 during trading hours on Thursday, hitting $44.54. The company's stock had a trading volume of 2,500,832 shares, compared to its average volume of 7,282,332. The stock has a 50 day moving average price of $35.71 and a two-hundred day moving average price of $35.17. Chewy, Inc. has a 12 month low of $16.06 and a 12 month high of $44.52. The company has a market capitalization of $18.42 billion, a PE ratio of 48.81, a price-to-earnings-growth ratio of 2.21 and a beta of 1.69.

Chewy (NYSE:CHWY - Get Free Report) last announced its quarterly earnings results on Wednesday, March 26th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.03 by $0.25. The company had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.20 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The company's revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.07 earnings per share. Sell-side analysts expect that Chewy, Inc. will post 0.24 earnings per share for the current year.

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.