Simplify Asset Management Inc. Purchases New Shares in Chewy, Inc. (NYSE:CHWY)

Simplify Asset Management Inc. purchased a new position in Chewy, Inc. (NYSE:CHWY) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 183,662 shares of the company’s stock, valued at approximately $5,379,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CHWY. EntryPoint Capital LLC boosted its position in Chewy by 18.0% during the 1st quarter. EntryPoint Capital LLC now owns 4,066 shares of the company’s stock valued at $65,000 after acquiring an additional 619 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in Chewy by 3.2% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 28,359 shares of the company’s stock worth $451,000 after purchasing an additional 870 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Chewy by 183.6% in the third quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock worth $38,000 after buying an additional 905 shares during the last quarter. Washington Trust Advisors Inc. grew its holdings in shares of Chewy by 0.3% during the third quarter. Washington Trust Advisors Inc. now owns 278,452 shares of the company’s stock valued at $8,156,000 after buying an additional 923 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its position in shares of Chewy by 10.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,325 shares of the company’s stock valued at $308,000 after acquiring an additional 1,029 shares during the period. Institutional investors own 93.09% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CHWY. Wedbush restated an “outperform” rating and issued a $35.00 price objective on shares of Chewy in a research note on Thursday, August 29th. Morgan Stanley upped their price target on Chewy from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. Citigroup upgraded shares of Chewy from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $28.00 to $40.00 in a research note on Friday, November 8th. JPMorgan Chase & Co. raised their target price on shares of Chewy from $28.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Finally, TD Cowen initiated coverage on Chewy in a report on Wednesday, October 9th. They set a “buy” rating and a $38.00 price target for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Chewy presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.15.

Insider Transactions at Chewy

In other news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $29.40, for a total transaction of $789,999,991.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.10% of the stock is currently owned by insiders.

Chewy Trading Down 0.8 %

CHWY traded down $0.26 during trading hours on Friday, hitting $32.13. The company’s stock had a trading volume of 733,974 shares, compared to its average volume of 8,785,829. Chewy, Inc. has a fifty-two week low of $14.69 and a fifty-two week high of $39.10. The firm has a market capitalization of $13.43 billion, a PE ratio of 39.22, a PEG ratio of 3.27 and a beta of 1.06. The company has a 50-day simple moving average of $29.35 and a 200 day simple moving average of $25.23.

Chewy (NYSE:CHWY) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The company had revenue of $2.86 billion for 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%. Research analysts expect that Chewy, Inc. will post 0.32 earnings per share for the current fiscal year.

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.