Chewy Target of Unusually Large Options Trading (NYSE:CHWY)

Chewy (NYSE:CHWY) was the target of unusually large options trading activity on Monday. Stock traders acquired 22,581 put options on the company. This is an increase of 39% compared to the typical daily volume of 16,300 put options.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CHWY shares. Wolfe Research set a $44.00 price target on Chewy in a report on Monday, January 5th. Morgan Stanley dropped their target price on Chewy from $51.00 to $50.00 and set an “overweight” rating for the company in a report on Tuesday, March 10th. UBS Group set a $51.00 target price on Chewy in a research note on Tuesday, January 13th. Barclays reduced their price target on Chewy from $52.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, March 5th. Finally, Citigroup reissued a “market outperform” rating on shares of Chewy in a research report on Monday, November 24th. Seventeen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Chewy currently has a consensus rating of “Moderate Buy” and an average target price of $45.55.

Insiders Place Their Bets

In other news, CTO Satish Mehta sold 13,013 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $28.99, for a total transaction of $377,246.87. Following the transaction, the chief technology officer directly owned 273,835 shares in the company, valued at $7,938,476.65. The trade was a 4.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.43% of the stock is owned by company insiders.

Institutional Investors Weigh In On Chewy

Institutional investors and hedge funds have recently made changes to their positions in the stock. Park Avenue Securities LLC lifted its holdings in shares of Chewy by 4.0% in the 3rd quarter. Park Avenue Securities LLC now owns 7,810 shares of the company’s stock worth $316,000 after acquiring an additional 302 shares during the last quarter. Transatlantique Private Wealth LLC raised its position in Chewy by 3.0% in the third quarter. Transatlantique Private Wealth LLC now owns 10,922 shares of the company’s stock valued at $442,000 after purchasing an additional 314 shares during the period. National Bank of Canada FI raised its position in Chewy by 12.5% in the third quarter. National Bank of Canada FI now owns 2,910 shares of the company’s stock valued at $118,000 after purchasing an additional 324 shares during the period. Angeles Wealth Management LLC lifted its stake in Chewy by 6.6% during the third quarter. Angeles Wealth Management LLC now owns 5,305 shares of the company’s stock worth $215,000 after purchasing an additional 330 shares in the last quarter. Finally, Sivia Capital Partners LLC lifted its stake in Chewy by 3.2% during the third quarter. Sivia Capital Partners LLC now owns 11,072 shares of the company’s stock worth $448,000 after purchasing an additional 343 shares in the last quarter. 93.09% of the stock is owned by hedge funds and other institutional investors.

Chewy Trading Up 1.2%

CHWY traded up $0.28 on Monday, hitting $23.65. The company had a trading volume of 2,503,135 shares, compared to its average volume of 7,869,328. The company’s fifty day moving average price is $27.71 and its 200 day moving average price is $32.64. Chewy has a 1 year low of $23.06 and a 1 year high of $48.62. The firm has a market cap of $9.81 billion, a P/E ratio of 49.31, a PEG ratio of 1.58 and a beta of 1.60.

Chewy Company Profile

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.