Envestnet Asset Management Inc. buys 117,454 shares of Chewy, Inc. (NYSE:CHWY)

Envestnet Asset Management Inc. increased its stake in Chewy, Inc. (NYSE:CHWY – Free Report) by 243.6% in the second quarter, HoldingsChannel.com reports. The fund owned 165,662 shares of the company’s stock after buying an additional 117,454 shares during the period. Holdings of Envestnet Asset Management Inc. in Chewy were worth $4,513,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have recently made changes to their positions in CHWY. Oppenheimer Asset Management Inc. bought a new stake in Chewy during the second quarter valued at about $380,000. Main Street Financial Solutions LLC bought a new stake in Chewy during the second quarter valued at about $240,000. American Century Companies Inc. raised its position in Chewy by 46.0% in the second quarter. American Century Companies Inc. now owns 29,111 shares of the company’s stock valued at $793,000 after buying an additional 9,166 shares during the period. Malaga Cove Capital LLC grew its position in Chewy by 18.9% in the second quarter. Malaga Cove Capital LLC now owns 53,766 shares of the company’s stock valued at $1,465,000 after buying an additional 8,534 shares during the period. Finally, Choreo LLC bought a new stake in Chewy during the second quarter valued at about $205,000. 93.09% of shares are currently owned by institutional investors.

Analysts on Wall Street are forecasting an increase

Several brokerages have recently issued reports on CHWY. Raymond James cut shares of Chewy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 21st. Wedbush reaffirmed an “outperform” rating and set a $35.00 target price on shares of Chewy in a report on Thursday, August 29th. Piper Sandler restated an “overweight” rating and set a $35.00 target price on shares of Chewy in a report on Friday, September 20th. JPMorgan Chase & Co. raised their target price on shares of Chewy from $28.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Finally, Royal Bank of Canada raised their target price on shares of Chewy from $24.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the stock. The stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.11, according to MarketBeat.com.

Check out our latest Chewy review

Insider buying and selling at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $29.40, for a total transaction of $789,999,991.20. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC’s website. In other Chewy news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $29.40, for a total transaction of $789,999,991.20. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC’s website. Also, CTO Satish Mehta sold 2,894 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $22.24, for a total transaction of $64,362.56. Following the transaction, the chief technology officer now owns 573,463 shares in the company, valued at approximately $12,753,817.12. The disclosure for this sale can be found here. Insiders sold 26,888,627 shares of company stock worth $790,397,620 in the last quarter. Insiders own 2.10% of the company’s shares.

Performance of chewed stock

Shares of CHWY stock opened at $29.36 on Wednesday. The company’s fifty day moving average is $27.10 and its 200 day moving average is $22.49. Chewy, Inc. it has a fifty-two week low of $14.69 and a fifty-two week high of $39.10. The stock has a market cap of $12.77 billion, a PE ratio of 163.11, a P/E/G ratio of 2.98 and a beta of 1.04.

Chewy (NYSE:CHWY – Get Your Free Report ) last announced its quarterly earnings results on Wednesday, August 28th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.02. Chewy had a net margin of 3.20% and a return on equity of 21.00%. The company had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.86 billion. As a group, research analysts forecast that Chewy, Inc. will post 0.32 earnings per share for the current year.

About Chewy

(Free Report)

Chewy, Inc, together with its subsidiaries, engages in the pure play e-commerce business in the United States. Provides pet food and treats, pet supplies and medications, and other pet health products, as well as pet services for dogs, cats, fish, birds, small pets, horses and reptiles through through its retail sites and mobile applications.

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Want to see what other hedge funds CHWY owns? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Chewy, Inc. (NYSE:CHWY – Free Report).

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