Inspire Investing LLC Buys Shares of 27,474 Chewy, Inc. (NYSE:CHWY)

Inspire Investing LLC acquired a new stake in shares of Chewy, Inc. (NYSE:CHWY) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 27,474 shares of the company’s stock, valued at approximately $805,000.

Other institutional investors and hedge funds have also modified their holdings of the company. 1620 Investment Advisors Inc. acquired a new stake in Chewy during the 2nd quarter worth approximately $33,000. Industrial Alliance Investment Management Inc. bought a new stake in shares of Chewy during the second quarter worth $44,000. First Horizon Advisors Inc. acquired a new stake in shares of Chewy during the second quarter worth $48,000. Skylands Capital LLC bought a new stake in Chewy in the 2nd quarter valued at $52,000. Finally, Future Financial Wealth Managment LLC acquired a new position in Chewy in the 3rd quarter worth $62,000. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Chewy Stock Performance

Shares of CHWY stock opened at $28.45 on Tuesday. Chewy, Inc. has a 52 week low of $14.69 and a 52 week high of $39.10. The company has a market capitalization of $12.37 billion, a price-to-earnings ratio of 158.06, a PEG ratio of 3.04 and a beta of 1.05. The company has a 50-day simple moving average of $28.02 and a 200 day simple moving average of $23.30.

Chewy (NYSE:CHWY) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. Chewy had a return on equity of 21.00% and a net margin of 3.20%. The company had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.86 billion. Sell-side analysts forecast that Chewy, Inc. will post 0.32 EPS for the current year.

Analyst Ratings Changes

CHWY has been the topic of several recent research reports. Robert W. Baird boosted their price target on Chewy from $26.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. Royal Bank of Canada boosted their target price on Chewy from $24.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Barclays raised their price target on shares of Chewy from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Bank of America boosted their price objective on shares of Chewy from $20.00 to $24.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Finally, Morgan Stanley raised their target price on shares of Chewy from $28.00 to $30.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $29.55.

Insider Activity at Chewy

In other news, CEO Sumit Singh sold 14,338 shares of Chewy stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $22.24, for a total transaction of $318,877.12. Following the completion of the sale, the chief executive officer now owns 1,398,271 shares of the company’s stock, valued at approximately $31,097,547.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Sumit Singh sold 14,338 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $22.24, for a total transaction of $318,877.12. Following the transaction, the chief executive officer now directly owns 1,398,271 shares of the company’s stock, valued at approximately $31,097,547.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Satish Mehta sold 2,894 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $22.24, for a total value of $64,362.56. Following the completion of the sale, the chief technology officer now owns 573,463 shares of the company’s stock, valued at approximately $12,753,817.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,888,627 shares of company stock worth $790,397,620 in the last ninety days. 2.10% of the stock is owned by company insiders.

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.