Shares of Chewy (NYSE:CHWY – Get Free Report) shot up 4.3% during mid-day trading on Tuesday . The stock traded as high as $23.22 and last traded at $23.08. Approximately 905,969 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 8,526,179 shares. The stock had previously closed at $22.13.
Wall Street Analyst Weigh In
A number of research firms have recently commented on CHWY. Mizuho reduced their price objective on shares of Chewy from $50.00 to $40.00 and set an “outperform” rating for the company in a research note on Wednesday, June 3rd. Bank of America lowered their target price on Chewy from $33.00 to $31.00 in a research report on Thursday, June 11th. Guggenheim reiterated a “buy” rating and set a $45.00 target price on shares of Chewy in a report on Monday, April 27th. Moffett Nathanson set a $28.00 target price on Chewy in a report on Thursday, June 11th. Finally, Morgan Stanley reduced their price target on Chewy from $43.00 to $42.00 and set an “overweight” rating for the company in a research report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $32.05.
Check Out Our Latest Stock Report on Chewy
Chewy Stock Up 5.5%
Insider Activity at Chewy
In other news, General Counsel Da-Wai Hu sold 4,203 shares of the business’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $19.49, for a total transaction of $81,916.47. Following the transaction, the general counsel directly owned 4,103 shares in the company, valued at $79,967.47. The trade was a 50.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Chewy
Several hedge funds have recently bought and sold shares of the company. Harbour Investments Inc. grew its holdings in Chewy by 81.4% during the fourth quarter. Harbour Investments Inc. now owns 907 shares of the company’s stock worth $30,000 after purchasing an additional 407 shares during the period. Osterweis Capital Management Inc. bought a new stake in Chewy in the second quarter valued at approximately $30,000. Los Angeles Capital Management LLC bought a new stake in Chewy in the fourth quarter valued at approximately $31,000. Modus Advisors LLC acquired a new stake in shares of Chewy in the fourth quarter valued at approximately $34,000. Finally, Montag A & Associates Inc. lifted its position in shares of Chewy by 58.8% in the fourth quarter. Montag A & Associates Inc. now owns 1,270 shares of the company’s stock valued at $42,000 after buying an additional 470 shares during the last quarter. 93.09% of the stock is currently owned by institutional investors and hedge funds.
About Chewy
Chewy, Inc (NYSE: CHWY) is a leading e-commerce retailer specializing in pet food, supplies and services. The company offers a comprehensive assortment of products for dogs, cats, fish, birds and other small animals, including prescription medications, veterinary health products, grooming essentials and toys. Through its online platform and mobile app, Chewy provides an intuitive shopping experience with features such as Autoship, ensuring regular deliveries of pet essentials at schedule intervals.
Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated under the name Mr.
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