Inspire Investing LLC Acquires Shares of 27,474 Chewy, Inc. (NYSE:CHWY)

Inspire Investing LLC bought a new position in Chewy, Inc. (NYSE:CHWY) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 27,474 shares of the company’s stock, valued at approximately $805,000.

A number of other large investors have also modified their holdings of the stock. 1620 Investment Advisors Inc. acquired a new stake in Chewy during the second quarter valued at approximately $33,000. Industrial Alliance Investment Management Inc. bought a new position in Chewy during the second quarter worth $44,000. First Horizon Advisors Inc. bought a new stake in Chewy during the second quarter valued at $48,000. Skylands Capital LLC acquired a new stake in shares of Chewy during the second quarter worth $52,000. Finally, Future Financial Wealth Managment LLC bought a new position in shares of Chewy in the 3rd quarter worth about $62,000. Institutional investors and hedge funds own 93.09% of the company’s stock.

Chewy Stock Performance

CHWY stock opened at $28.45 on Tuesday. The firm has a 50 day simple moving average of $28.02 and a 200 day simple moving average of $23.30. Chewy, Inc. has a 52 week low of $14.69 and a 52 week high of $39.10. The stock has a market cap of $12.37 billion, a P/E ratio of 158.06, a P/E/G ratio of 3.04 and a beta of 1.05.

Chewy (NYSE:CHWY) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The company had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.86 billion. Chewy had a return on equity of 21.00% and a net margin of 3.20%. Sell-side analysts predict that Chewy, Inc. will post 0.32 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CHWY. UBS Group increased their price objective on shares of Chewy from $21.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Raymond James downgraded shares of Chewy from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 21st. Citigroup raised their target price on shares of Chewy from $16.00 to $28.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Wolfe Research started coverage on shares of Chewy in a research note on Tuesday, July 16th. They issued a “peer perform” rating for the company. Finally, JPMorgan Chase & Co. raised their price objective on shares of Chewy from $28.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $29.55.

Insider Transactions at Chewy

In related news, CEO Sumit Singh sold 14,338 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $22.24, for a total value of $318,877.12. Following the sale, the chief executive officer now owns 1,398,271 shares of the company’s stock, valued at $31,097,547.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CTO Satish Mehta sold 2,894 shares of Chewy stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $22.24, for a total value of $64,362.56. Following the completion of the transaction, the chief technology officer now owns 573,463 shares in the company, valued at approximately $12,753,817.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sumit Singh sold 14,338 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $22.24, for a total value of $318,877.12. Following the sale, the chief executive officer now directly owns 1,398,271 shares of the company’s stock, valued at $31,097,547.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,888,627 shares of company stock valued at $790,397,620. Corporate insiders own 2.10% of the company’s stock.

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.