Balyasny Asset Management L.P. Has $203.91 Million Position in Chewy, Inc. (NYSE:CHWY)

Balyasny Asset Management L.P. lessened its stake in shares of Chewy, Inc. (NYSE:CHWY) by 3.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 6,088,551 shares of the company’s stock after selling 199,284 shares during the quarter. Chewy comprises about 0.3% of Balyasny Asset Management L.P.’s portfolio, making the stock its 29th largest holding. Balyasny Asset Management L.P. owned approximately 1.50% of Chewy worth $203,906,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Chewy by 31.8% in the fourth quarter. Vanguard Group Inc. now owns 14,484,717 shares of the company’s stock valued at $485,093,000 after acquiring an additional 3,493,926 shares during the period. Invesco Ltd. boosted its holdings in Chewy by 4,577.5% in the 4th quarter. Invesco Ltd. now owns 2,191,146 shares of the company’s stock valued at $73,381,000 after purchasing an additional 2,144,302 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Chewy during the 4th quarter worth approximately $69,789,000. Alyeska Investment Group L.P. increased its holdings 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 worth $53,890,000 after purchasing an additional 1,584,149 shares during the period. Finally, Wealthfront Advisers LLC acquired a new stake in shares of Chewy in the fourth quarter valued at approximately $46,003,000. Institutional investors and hedge funds own 93.09% of the company’s stock.

Analysts Set New Price Targets

CHWY has been the subject of several analyst reports. Evercore ISI raised Chewy from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $34.00 to $47.00 in a report on Monday, January 13th. Citigroup upped their price objective on shares of Chewy from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. Wedbush reaffirmed an “outperform” rating and issued a $39.00 target price on shares of Chewy in a report on Thursday, March 27th. The Goldman Sachs Group boosted their price target on Chewy from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Finally, Mizuho increased 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. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.47.

Insider Buying and Selling at Chewy

In other Chewy news, CTO Satish Mehta sold 71,365 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were 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 owns 262,853 shares of the company’s stock, valued at approximately $9,357,566.80. This trade represents a 21.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sumit Singh sold 57,432 shares of Chewy stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $37.90, for a total value of $2,176,672.80. Following the sale, the chief executive officer now directly owns 877,704 shares of the company’s stock, valued at approximately $33,264,981.60. This represents a 6.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 444,907 shares of company stock valued at $16,529,750 in the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Chewy Stock Performance

Shares of CHWY opened at $36.66 on Friday. Chewy, Inc. has a fifty-two week low of $15.08 and a fifty-two week high of $40.09. The company’s fifty day moving average is $34.16 and its 200 day moving average is $34.05. The stock has a market capitalization of $15.16 billion, a PE ratio of 40.29, a P/E/G ratio of 2.21 and a beta of 1.69.

Chewy (NYSE:CHWY) last posted its quarterly earnings data on Wednesday, March 26th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.25. The company had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.20 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. Chewy’s revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.07 EPS. As a group, research analysts forecast that Chewy, Inc. will post 0.24 earnings per share for the current year.

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.