Chewy $CHWY Shares Purchased by Eventide Asset Management LLC

Eventide Asset Management LLC boosted its stake in Chewy (NYSE:CHWY) by 32.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,409,144 shares of the company’s stock after acquiring an additional 343,572 shares during the quarter. Eventide Asset Management LLC’s holdings in Chewy were worth $56,989,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Wellington Management Group LLP lifted its position in shares of Chewy by 295.9% during the third quarter. Wellington Management Group LLP now owns 17,622,768 shares of the company’s stock worth $712,841,000 after purchasing an additional 13,171,325 shares in the last quarter. AQR Capital Management LLC grew its holdings in Chewy by 120.2% during the 3rd quarter. AQR Capital Management LLC now owns 10,196,146 shares of the company’s stock valued at $407,948,000 after purchasing an additional 5,564,803 shares in the last quarter. Viking Global Investors LP purchased a new stake in Chewy during the 3rd quarter worth $221,815,000. State Street Corp increased its stake in Chewy by 75.5% during the 2nd quarter. State Street Corp now owns 6,170,197 shares of the company’s stock worth $262,974,000 after buying an additional 2,654,496 shares during the period. Finally, Champlain Investment Partners LLC acquired a new position in Chewy in the 3rd quarter worth $89,022,000. Institutional investors and hedge funds own 93.09% of the company’s stock.

Chewy Price Performance

Shares of CHWY stock opened at $25.46 on Friday. The firm has a market cap of $10.57 billion, a P/E ratio of 53.04, a P/E/G ratio of 1.72 and a beta of 1.60. Chewy has a 1-year low of $23.06 and a 1-year high of $48.62. The firm has a fifty day moving average of $28.46 and a two-hundred day moving average of $33.26.

Chewy (NYSE:CHWY) last issued its earnings results on Wednesday, December 10th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. Chewy had a net margin of 1.64% and a return on equity of 56.78%. The business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter in the prior year, the business posted $0.20 EPS. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, sell-side analysts expect that Chewy will post 0.24 EPS for the current year.

Insider Buying and Selling

In related news, CTO Satish Mehta sold 13,013 shares of Chewy stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $28.99, for a total value of $377,246.87. Following the completion of the transaction, the chief technology officer directly owned 273,835 shares in the company, valued at approximately $7,938,476.65. This trade represents a 4.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CHWY shares. Morgan Stanley decreased their price objective on shares of Chewy from $51.00 to $50.00 and set an “overweight” rating for the company in a research report on Tuesday, March 10th. UBS Group set a $51.00 target price on Chewy in a research report on Tuesday, January 13th. Citigroup reissued a “market outperform” rating on shares of Chewy in a report on Monday, November 24th. Barclays lowered their price objective on Chewy from $52.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, March 5th. Finally, The Goldman Sachs Group lifted their price objective on Chewy from $44.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Seventeen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Chewy presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.55.

About Chewy

Chewy, Inc (NYSE: CHWY) is a leading e-commerce retailer specializing in pet food, supplies and services. The company offers a comprehensive assortment of products for dogs, cats, fish, birds and other small animals, including prescription medications, veterinary health products, grooming essentials and toys. Through its online platform and mobile app, Chewy provides an intuitive shopping experience with features such as Autoship, ensuring regular deliveries of pet essentials at schedule intervals.

Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated under the name Mr.