PetMed Express, Inc. (NASDAQ:PETS) Major Shareholder Acquires $379,422.00 in Stock

PetMed Express, Inc. (NASDAQ:PETS) major shareholder Silvercape Investments Ltd purchased 118,200 shares of the business’s stock in a transaction dated Friday, August 1st. The shares were acquired at an average price of $3.21 per share, with a total value of $379,422.00. Following the completion of the acquisition, the insider owned 2,478,696 shares of the company’s stock, valued at approximately $7,956,614.16. The trade was a 5.01% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Silvercape Investments Ltd also recently made the following trade(s):

• On Friday, July 18th, Silvercape Investments Ltd purchased 17,565 shares of PetMed Express stock. The shares were acquired at an average price of $3.23 per share, with a total value of $56,734.95.
• On Thursday, July 17th, Silvercape Investments Ltd purchased 31,701 shares of PetMed Express stock. The shares were acquired at an average price of $3.15 per share, with a total value of $99,858.15.
• On Wednesday, July 2nd, Silvercape Investments Ltd purchased 2,817 shares of PetMed Express stock. The shares were acquired at an average price of $3.22 per share, with a total value of $9,070.74.
• On Tuesday, May 20th, Silvercape Investments Ltd purchased 7,401 shares of PetMed Express stock. The shares were acquired at an average price of $3.95 per share, with a total value of $29,233.95.

PetMed Express Trading Down 1.2%

Shares of NASDAQ PETS opened at $3.20 on Tuesday. The business has a fifty day simple moving average of $3.50 and a 200 day simple moving average of $3.84. The firm has a market capitalization of $66.11 million, a price-to-earnings ratio of 320.32 and a beta of 0.82. PetMed Express, Inc. has a one year low of $2.90 and a one year high of $6.85.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PETS. American Century Companies Inc. raised its stake in shares of PetMed Express by 15.3% in the fourth quarter. American Century Companies Inc. now owns 33,662 shares of the company’s stock valued at $162,000 after purchasing an additional 4,459 shares in the last quarter. JPMorgan Chase & Co. raised its stake in PetMed Express by 355.5% during the fourth quarter. JPMorgan Chase & Co. now owns 106,954 shares of the company’s stock worth $516,000 after acquiring an additional 83,473 shares in the last quarter. Blair William & Co. IL raised its stake in PetMed Express by 95.2% during the fourth quarter. Blair William & Co. IL now owns 20,300 shares of the company’s stock worth $98,000 after acquiring an additional 9,900 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in PetMed Express by 26.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 513,381 shares of the company’s stock worth $2,474,000 after acquiring an additional 107,614 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in PetMed Express by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 224,788 shares of the company’s stock worth $1,084,000 after acquiring an additional 3,558 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on PETS. Morgan Stanley cut their price target on PetMed Express from $3.50 to $3.20 and set an “underweight” rating for the company in a report on Thursday, April 17th. Wall Street Zen lowered PetMed Express from a “hold” rating to a “sell” rating in a report on Sunday.

PetMed Express Company Profile

PetMed Express, Inc, together with its subsidiaries, operates as a pet pharmacy in the United States. The company markets prescription and non-prescription pet medications, health products, and other supplies for dogs, cats, and horses. It offers non-prescription medications and supplies, such as flea and tick control products, bone and joint care products, vitamins, treats, nutritional supplements, hygiene products, and household pet supplies; and prescription medications, including heartworm preventatives, flea and tick preventatives, arthritis, dermatitis, thyroid, diabetes, pain medications, heart/blood pressure, and other specialty medications, as well as generic substitutes.