Securian Asset Management Inc. Makes New $418,000 Investment in Chewy, Inc. (NYSE:CHWY)

Securian Asset Management Inc. purchased a new position in Chewy, Inc. (NYSE:CHWY) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 12,490 shares of the company’s stock, valued at approximately $418,000.

A number of other large investors also recently modified their holdings of CHWY. Bank of New York Mellon Corp lifted its holdings in Chewy by 9.8% in the fourth quarter. Bank of New York Mellon Corp now owns 4,489,237 shares of the company’s stock worth $150,345,000 after purchasing an additional 399,330 shares during the period. FMR LLC raised its position in shares of Chewy by 166.8% during the 3rd quarter. FMR LLC now owns 3,995,329 shares of the company’s stock worth $117,023,000 after buying an additional 2,497,689 shares in the last quarter. ArrowMark Colorado Holdings LLC lifted its stake in shares of Chewy by 5.3% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 2,765,931 shares of the company’s stock worth $81,014,000 after acquiring an additional 138,768 shares during the period. Raymond James Financial Inc. bought a new position in shares of Chewy in the fourth quarter valued at approximately $69,789,000. Finally, Eagle Asset Management Inc. increased its stake in shares of Chewy by 97.9% during the third quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock valued at $60,485,000 after acquiring an additional 975,647 shares during the period. 93.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CHWY shares. Mizuho upgraded Chewy from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $24.00 to $42.00 in a research report on Monday, January 6th. Morgan Stanley raised their target price on Chewy from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Evercore ISI raised Chewy from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $34.00 to $47.00 in a report on Monday, January 13th. BNP Paribas downgraded shares of Chewy from an “outperform” rating to a “neutral” rating in a report on Thursday, December 5th. Finally, Royal Bank of Canada lifted their price objective on shares of Chewy from $39.00 to $42.00 and gave the stock an “outperform” rating in a research note on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.30.

Chewy Trading Down 0.7 %

Shares of CHWY stock opened at $33.05 on Tuesday. The stock’s fifty day simple moving average is $36.53 and its 200-day simple moving average is $32.90. The company has a market capitalization of $13.46 billion, a price-to-earnings ratio of 36.32, a P/E/G ratio of 2.21 and a beta of 1.23. Chewy, Inc. has a 1-year low of $14.69 and a 1-year high of $40.09.

Insider Buying and Selling at Chewy

In other news, CEO Sumit Singh sold 9,285 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $40.00, for a total transaction of $371,400.00. Following the transaction, the chief executive officer now directly owns 489,750 shares in the company, valued at $19,590,000. The trade was a 1.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO David Reeder sold 307,558 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $37.48, for a total value of $11,527,273.84. Following the sale, the chief financial officer now owns 546,257 shares of the company’s stock, valued at approximately $20,473,712.36. This represents a 36.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,797,494 shares of company stock valued at $315,156,588 in the last 90 days. 2.10% of the stock is currently owned by corporate 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.