Chewy, Inc. (NYSE:CHWY) Stake Lifted by Tairen Capital Ltd

Tairen Capital Ltd increased its stake in shares of Chewy, Inc. (NYSE:CHWY) by 17.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,000 shares of the company’s stock after buying an additional 15,000 shares during the quarter. Tairen Capital Ltd’s holdings in Chewy were worth $3,349,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CHWY. Banque Transatlantique SA bought a new position in shares of Chewy in the fourth quarter worth $30,000. Fifth Third Bancorp grew its stake in shares of Chewy by 83.0% in the fourth quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock worth $33,000 after purchasing an additional 444 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Chewy by 22.9% in the fourth quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock worth $58,000 after purchasing an additional 320 shares in the last quarter. Allworth Financial LP grew its stake in shares of Chewy by 52.0% in the fourth quarter. Allworth Financial LP now owns 1,900 shares of the company’s stock worth $71,000 after purchasing an additional 650 shares in the last quarter. Finally, Union Bancaire Privee UBP SA bought a new position in shares of Chewy in the fourth quarter worth $86,000. 93.09% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other 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 completion of the sale, the chief financial officer now directly owns 11,582 shares of the company’s stock, valued at $422,743. This trade represents a 40.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Satish Mehta sold 71,365 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $35.60, for a total value of $2,540,594.00. Following the sale, the chief technology officer now directly owns 262,853 shares of the company’s stock, valued at $9,357,566.80. This trade represents a 21.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 307,411 shares of company stock valued at $11,928,229. Corporate insiders own 2.10% of the company’s stock.

Chewy Trading Up 0.7%

Shares of Chewy stock opened at $41.77 on Monday. The stock has a 50-day moving average price of $35.07 and a 200 day moving average price of $34.93. The company has a market cap of $17.28 billion, a P/E ratio of 45.90, a P/E/G ratio of 2.21 and a beta of 1.69. Chewy, Inc. has a 1 year low of $15.78 and a 1 year high of $42.20.

Chewy (NYSE:CHWY) last announced its quarterly earnings data on Wednesday, March 26th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.25. The firm had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.20 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.07 EPS. On average, equities analysts forecast that Chewy, Inc. will post 0.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CHWY. Royal Bank of Canada reissued an “outperform” rating and issued a $42.00 price target on shares of Chewy in a research note on Thursday, March 27th. Argus raised Chewy from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. JMP Securities decreased their target price on Chewy from $40.00 to $39.00 and set a “market outperform” rating for the company in a research note on Monday, April 14th. Mizuho raised their target price on Chewy from $42.00 to $43.00 and gave the company an “outperform” rating in a research note on Thursday, March 27th. Finally, Barclays raised their target price on Chewy from $40.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday, March 27th. Six equities research 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 has a consensus rating of “Moderate Buy” and an average target price 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.