Investors Purchase High Volume of Chewy Call Options (NYSE:CHWY)

Chewy, Inc. (NYSE:CHWY) saw unusually large options trading on Tuesday. Stock investors acquired 47,690 call options on the stock. This represents an increase of approximately 30% compared to the average volume of 36,769 call options.

Insiders Place Their Bets

In related news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $29.40, for a total value of $36,750,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Chewy

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BC Partners Advisors L.P. acquired a new stake in shares of Chewy in the 2nd quarter valued at $7,517,800,000. FMR LLC increased its position in shares of Chewy by 166.8% in the 3rd quarter. FMR LLC now owns 3,995,329 shares of the company’s stock valued at $117,023,000 after buying an additional 2,497,689 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Chewy by 7.8% during the second quarter. Bank of New York Mellon Corp now owns 3,553,104 shares of the company’s stock worth $96,787,000 after purchasing an additional 258,502 shares during the period. Marshall Wace LLP increased its position in shares of Chewy by 1,028.6% during the second quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock worth $78,801,000 after acquiring an additional 2,636,526 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC raised its holdings in shares of Chewy by 5.3% during the third 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. Institutional investors own 93.09% of the company’s stock.

Wall Street Analyst Weigh In

CHWY has been the topic of a number of research analyst reports. Royal Bank of Canada boosted their target price on Chewy from $24.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Raymond James downgraded Chewy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 21st. TD Cowen assumed coverage on shares of Chewy in a research note on Wednesday, October 9th. They set a “buy” rating and a $38.00 price objective for the company. Bank of America raised Chewy from an “underperform” rating to a “buy” rating and increased their target price for the stock from $24.00 to $40.00 in a research report on Wednesday, November 20th. Finally, Citigroup raised Chewy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $28.00 to $40.00 in a research report on Friday, November 8th. Eight analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.80.

Chewy Stock Down 0.2 %

CHWY stock traded down $0.05 during mid-day trading on Tuesday, reaching $33.58. 8,157,026 shares of the stock traded hands, compared to its average volume of 8,587,870. The firm has a market capitalization of $14.04 billion, a PE ratio of 41.49, a P/E/G ratio of 3.13 and a beta of 1.12. The business has a 50-day moving average of $30.16 and a two-hundred day moving average of $26.75. Chewy has a 52 week low of $14.69 and a 52 week high of $39.10.

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.