Centiva Capital LP Acquires New Shares in Chewy, Inc. (NYSE:CHWY)

Centiva Capital LP acquired a new stake in Chewy, Inc. (NYSE:CHWY) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 100,694 shares of the company’s stock, valued at approximately $2,949,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Susquehanna Fundamental Investments LLC bought a new position in shares of Chewy during the 2nd quarter valued at $11,916,000. Cetera Advisors LLC bought a new position in shares of Chewy during the 1st quarter valued at $334,000. Sanctuary Advisors LLC purchased a new stake in shares of Chewy in the 2nd quarter worth $673,000. Eagle Asset Management Inc. increased its stake in shares of Chewy by 97.9% in the 3rd quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock worth $60,485,000 after purchasing an additional 975,647 shares in the last quarter. Finally, Marshall Wace LLP increased its stake in shares of Chewy by 1,028.6% in the 2nd quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock worth $78,801,000 after purchasing an additional 2,636,526 shares in the last quarter. 93.09% of the stock is owned by institutional investors.

Chewy Trading Up 0.7 %

Shares of NYSE:CHWY opened at $33.63 on Tuesday. Chewy, Inc. has a 12 month low of $14.69 and a 12 month high of $39.10. The company has a 50-day moving average price of $30.16 and a 200 day moving average price of $26.75. The company has a market cap of $14.06 billion, a price-to-earnings ratio of 41.01, a PEG ratio of 3.13 and a beta of 1.06.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Raymond James lowered Chewy from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 21st. Barclays upped their price objective on Chewy from $34.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Deutsche Bank Aktiengesellschaft increased their price target on Chewy from $24.00 to $28.00 and gave the stock a “hold” rating in a research note on Friday, November 22nd. Piper Sandler increased their price target on Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, TD Cowen started coverage on Chewy in a research note on Wednesday, October 9th. They issued a “buy” rating and a $38.00 price target for the company. Eight analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Chewy has a consensus rating of “Moderate Buy” and a consensus price target of $32.60.

Insider Activity at Chewy

In related news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $29.40, for a total value of $789,999,991.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.10% of the stock is owned by insiders.

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.