Holocene Advisors LP Sells 480,966 Shares of Chewy $CHWY

Holocene Advisors LP lowered its holdings in Chewy (NYSE:CHWY) by 6.9% during the 3rd quarter, Holdings Channel reports. The firm owned 6,458,085 shares of the company’s stock after selling 480,966 shares during the period. Holocene Advisors LP’s holdings in Chewy were worth $261,230,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CHWY. Gotham Asset Management LLC increased its position in shares of Chewy by 2,142.4% during the 3rd quarter. Gotham Asset Management LLC now owns 113,557 shares of the company’s stock valued at $4,593,000 after purchasing an additional 108,493 shares during the last quarter. Focus Partners Wealth boosted its holdings in shares of Chewy by 261.3% in the 3rd quarter. Focus Partners Wealth now owns 50,668 shares of the company’s stock worth $2,050,000 after buying an additional 36,643 shares during the last quarter. Eventide Asset Management LLC boosted its holdings in shares of Chewy by 32.2% in the 3rd quarter. Eventide Asset Management LLC now owns 1,409,144 shares of the company’s stock worth $56,989,000 after buying an additional 343,572 shares during the last quarter. Candlestick Capital Management LP grew its position in Chewy by 10.3% during the third quarter. Candlestick Capital Management LP now owns 1,476,101 shares of the company’s stock valued at $59,708,000 after buying an additional 137,382 shares during the period. Finally, California Public Employees Retirement System bought a new position in Chewy during the third quarter valued at about $14,275,000. Institutional investors own 93.09% of the company’s stock.

Analyst Upgrades and Downgrades

CHWY has been the topic of several research reports. TD Cowen lowered their price objective on shares of Chewy from $48.00 to $39.00 and set a “buy” rating on the stock in a research report on Tuesday, March 10th. Wall Street Zen raised shares of Chewy from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. The Goldman Sachs Group raised their price target on shares of Chewy from $44.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Morgan Stanley lowered their price target on shares of Chewy from $51.00 to $50.00 and set an “overweight” rating on the stock in a report on Tuesday, March 10th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Chewy in a research note on Thursday, December 11th. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently 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 Chewy stock in a transaction dated Monday, February 2nd. The shares were 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 owned 273,835 shares in the company, valued at $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 available at the SEC website. 0.43% of the stock is owned by corporate insiders.

Chewy Stock Performance

Shares of Chewy stock opened at $25.46 on Monday. The stock has a market capitalization 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 52-week low of $23.06 and a 52-week high of $48.62. The stock’s 50-day simple moving average is $28.46 and its 200 day simple moving average is $33.21.

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.