CastleKnight Management LP Purchases New Shares in Chewy, Inc. (NYSE:CHWY)

CastleKnight Management LP purchased a new stake in shares of Chewy, Inc. (NYSE:CHWY) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 20,100 shares of the company’s stock, valued at approximately $475,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Platinum Investment Management Ltd. increased its holdings in Chewy by 197.5% during the 4th quarter. Platinum Investment Management Ltd. now owns 200,448 shares of the company’s stock valued at $4,737,000 after purchasing an additional 133,066 shares in the last quarter. Pura Vida Investments LLC acquired a new stake in shares of Chewy in the 4th quarter valued at $969,000. Palo DS Manager LLC acquired a new stake in shares of Chewy during the fourth quarter worth $7,703,000. Boulder Hill Capital Management LP acquired a new stake in shares of Chewy during the fourth quarter worth $2,183,000. Finally, Steward Partners Investment Advisory LLC grew its stake in shares of Chewy by 68.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 15,318 shares of the company’s stock worth $362,000 after purchasing an additional 6,248 shares during the period. 93.09% of the stock is owned by institutional investors and hedge funds.

Chewy Stock Performance

Shares of CHWY traded down $1.10 during trading hours on Friday, reaching $22.75. The stock had a trading volume of 11,794,631 shares, compared to its average volume of 11,639,924. The stock has a market capitalization of $9.89 billion, a PE ratio of 126.39, a PEG ratio of 3.77 and a beta of 1.00. Chewy, Inc. has a 12 month low of $14.69 and a 12 month high of $40.78. The company’s 50-day moving average is $17.22 and its two-hundred day moving average is $18.32.

Chewy (NYSE:CHWY) last posted its quarterly earnings data on Wednesday, May 29th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.11. The business had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.85 billion. Chewy had a return on equity of 16.62% and a net margin of 0.73%. Equities analysts anticipate that Chewy, Inc. will post 0.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Satish Mehta sold 8,019 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $15.12, for a total value of $121,247.28. Following the completion of the sale, the chief technology officer now directly owns 569,594 shares in the company, valued at approximately $8,612,261.28. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Sumit Singh sold 6,728 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $15.53, for a total value of $104,485.84. Following the transaction, the chief executive officer now owns 129,991 shares of the company’s stock, valued at approximately $2,018,760.23. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Satish Mehta sold 8,019 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $15.12, for a total transaction of $121,247.28. Following the completion of the transaction, the chief technology officer now directly owns 569,594 shares in the company, valued at approximately $8,612,261.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,862 shares of company stock worth $1,047,242. Company insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CHWY shares. Piper Sandler lifted their price objective on Chewy from $16.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, May 30th. JPMorgan Chase & Co. lifted their price objective on Chewy from $22.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. UBS Group lifted their price objective on Chewy from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday, May 30th. Royal Bank of Canada decreased their price objective on Chewy from $35.00 to $22.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Chewy from $18.00 to $20.00 and gave the stock a “hold” rating in a research note on Thursday, May 30th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $26.21.

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.