Chewy, Inc. (NYSE:CHWY) Shares Sold by Deutsche Bank AG

Deutsche Bank AG lessened its stake in Chewy, Inc. (NYSE:CHWY) by 22.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 360,707 shares of the company’s stock after selling 104,741 shares during the quarter. Deutsche Bank AG’s holdings in Chewy were worth $12,080,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CHWY. Vanguard Group Inc. lifted its holdings in shares of Chewy by 31.8% in the 4th quarter. Vanguard Group Inc. now owns 14,484,717 shares of the company’s stock valued at $485,093,000 after buying an additional 3,493,926 shares during the period. Durable Capital Partners LP acquired a new position in shares of Chewy in the 4th quarter valued at about $79,050,000. Invesco Ltd. lifted its holdings in shares of 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 buying an additional 2,144,302 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Chewy in the 4th quarter valued at about $69,789,000. Finally, Alyeska Investment Group L.P. lifted its holdings in shares of Chewy by 6,336.6% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,609,149 shares of the company’s stock valued at $53,890,000 after buying an additional 1,584,149 shares during the period. Institutional investors and hedge funds own 93.09% of the company’s stock.

Insiders Place Their Bets

In other Chewy news, CFO David Reeder sold 7,863 shares of the firm’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $36.50, for a total transaction of $286,999.50. Following the transaction, the chief financial officer now owns 11,582 shares of the company’s stock, valued at approximately $422,743. This trade represents a 40.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sumit Singh sold 148,063 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $40.67, for a total value of $6,021,722.21. Following the transaction, the chief executive officer now directly owns 705,252 shares in the company, valued at approximately $28,682,598.84. The trade was a 17.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 307,411 shares of company stock worth $11,928,229 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Chewy Trading Up 1.1%

NYSE:CHWY opened at $41.46 on Friday. Chewy, Inc. has a 12 month low of $15.78 and a 12 month high of $41.71. The stock has a 50 day moving average of $34.90 and a two-hundred day moving average of $34.72. The firm has a market cap of $17.15 billion, a P/E ratio of 45.56, a price-to-earnings-growth ratio of 2.21 and a beta of 1.69.

Chewy (NYSE:CHWY) last posted its quarterly earnings results 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 business had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.20 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The business’s revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.07 earnings per share. On average, research analysts forecast that Chewy, Inc. will post 0.24 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CHWY. Wedbush reissued an “outperform” rating and issued a $39.00 price objective on shares of Chewy in a report on Thursday, March 27th. Mizuho lifted their price target on Chewy from $42.00 to $43.00 and gave the company an “outperform” rating in a research note on Thursday, March 27th. Deutsche Bank Aktiengesellschaft set a $27.00 price target on Chewy and gave the company a “hold” rating in a research note on Monday, April 14th. Royal Bank of Canada restated an “outperform” rating and issued a $42.00 price target on shares of Chewy in a research note on Thursday, March 27th. Finally, Citigroup lifted their price target on Chewy from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.47.

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.