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

Chewy, Inc. (NYSE:CHWY) was the recipient of unusually large options trading activity on Friday. Stock traders bought 39,060 call options on the company. This is an increase of approximately 65% compared to the average volume of 23,729 call options.

Chewy Price Performance

Shares of NYSE:CHWY traded up $1.54 during trading on Friday, reaching $33.86. 8,470,278 shares of the stock were exchanged, compared to its average volume of 7,602,010. The stock has a fifty day moving average of $36.30 and a two-hundred day moving average of $32.92. Chewy has a 1-year low of $14.69 and a 1-year high of $40.09. The firm has a market cap of $13.79 billion, a price-to-earnings ratio of 37.21, a price-to-earnings-growth ratio of 2.21 and a beta of 1.23.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Chewy from $24.00 to $28.00 and gave the company a “hold” rating in a research note on Friday, November 22nd. Guggenheim set a $42.00 price objective on shares of Chewy and gave the company a “buy” rating in a research note on Tuesday, February 4th. Royal Bank of Canada increased their price objective on shares of Chewy from $39.00 to $42.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. JMP Securities reissued a “market outperform” rating and set a $37.00 target price on shares of Chewy in a report on Monday, December 16th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Chewy in a report 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 company. Based on data from MarketBeat.com, Chewy has a consensus rating of “Moderate Buy” and a consensus target price of $37.30.

Insider Buying and Selling

In other news, CEO Sumit Singh sold 9,285 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $40.00, for a total value of $371,400.00. Following the completion of the transaction, the chief executive officer now owns 489,750 shares of the company’s stock, valued at $19,590,000. The trade was a 1.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $35.77, for a total transaction of $250,390,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,726,333 shares of company stock valued at $312,843,856. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Chewy

Several institutional investors have recently modified their holdings of CHWY. Banque Transatlantique SA bought a new stake in shares of Chewy in the 4th quarter worth approximately $30,000. Fifth Third Bancorp raised its stake in Chewy by 83.0% during the fourth quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock valued at $33,000 after buying an additional 444 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Chewy by 22.9% in the fourth quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock worth $58,000 after purchasing an additional 320 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Chewy in the third quarter worth $63,000. Finally, Gordian Capital Singapore Pte Ltd purchased a new position in shares of Chewy in the fourth quarter worth $67,000. 93.09% of the stock is currently owned by institutional investors.

Chewy Company 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.