Kazazian Asset Management LLC Takes $4.83 Million Position in Chewy, Inc. (NYSE:CHWY)

Kazazian Asset Management LLC acquired a new position in shares of Chewy, Inc. (NYSE:CHWY) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 144,222 shares of the company’s stock, valued at approximately $4,830,000. Chewy accounts for 3.7% of Kazazian Asset Management LLC’s portfolio, making the stock its 5th biggest position.

Several other institutional investors and hedge funds have also recently bought and sold shares of CHWY. FMR LLC raised its stake in Chewy by 166.8% during the third quarter. FMR LLC now owns 3,995,329 shares of the company’s stock worth $117,023,000 after acquiring an additional 2,497,689 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Chewy in the fourth quarter valued at approximately $69,789,000. Wealthfront Advisers LLC acquired a new stake in shares of Chewy in the fourth quarter valued at approximately $46,003,000. Eagle Asset Management Inc. increased its stake in shares of Chewy by 97.9% in the third quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock valued at $60,485,000 after purchasing an additional 975,647 shares during the period. Finally, Allianz Asset Management GmbH increased its stake in shares of Chewy by 134.3% in the fourth quarter. Allianz Asset Management GmbH now owns 1,620,809 shares of the company’s stock valued at $54,281,000 after purchasing an additional 929,116 shares during the period. Institutional investors and hedge funds own 93.09% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $35.77, for a total value of $250,390,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sumit Singh sold 9,285 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $40.00, for a total transaction of $371,400.00. Following the completion of the transaction, the chief executive officer now directly owns 489,750 shares of the company’s stock, valued at $19,590,000. This represents a 1.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,797,494 shares of company stock valued at $315,156,588. Company insiders own 2.10% of the company’s stock.

Chewy Stock Performance

Shares of NYSE:CHWY opened at $31.96 on Wednesday. The stock has a market capitalization of $13.01 billion, a price-to-earnings ratio of 35.12, a PEG ratio of 2.21 and a beta of 1.23. Chewy, Inc. has a 1-year low of $14.69 and a 1-year high of $40.09. The company has a 50 day moving average price of $36.46 and a 200 day moving average price of $32.92.

Wall Street Analyst Weigh In

Several brokerages have commented on CHWY. Bank of America upgraded shares of Chewy from an “underperform” rating to a “buy” rating and raised their price target for the company from $24.00 to $40.00 in a research note on Wednesday, November 20th. Wedbush restated an “outperform” rating and issued a $39.00 price target on shares of Chewy in a research note on Monday. JMP Securities reiterated a “market outperform” rating and issued a $37.00 price objective on shares of Chewy in a report on Monday, December 16th. Guggenheim set a $42.00 price objective on shares of Chewy and gave the company a “buy” rating in a report on Tuesday, February 4th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Chewy from $24.00 to $28.00 and gave the company a “hold” rating in a report on Friday, November 22nd. Five analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, Chewy currently has an average rating of “Moderate Buy” and a consensus target price of $37.30.

Chewy 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.