Chewy, Inc. (NYSE:CHWY) Short Interest Up 7.1% in August

Chewy, Inc. (NYSE:CHWY – Get Rating) was the target of significant short-term interest growth during August. As of August 31, there was short interest totaling 23,250,000 shares, up 7.1% from the total of 21,710,000 shares as of August 15. Currently, 25.2% of the company’s shares are sold short. Based on an average trading volume of 5,060,000 shares, the short interest ratio is currently 4.6 days.

Insider Trading at Chewy

In other news, insider Stacy Bowman sold 11,422 shares of the company in a trade dated Thursday, August 11. The stock was sold at an average price of $50.00, for a total transaction of $571,100.00. Following the sale, the insider now owns 181,970 shares of the company, valued at $9,098,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this hyperlink. In other news, insider Stacy Bowman sold 11,422 shares of the company in a trade dated Thursday, August 11. The stock was sold at an average price of $50.00, for a total transaction of $571,100.00. Following the sale, the insider now owns 181,970 shares of the company, valued at $9,098,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this hyperlink. Additionally, CEO Sumit Singh sold 217,986 shares of the company in a trade dated Monday, August 15. The stock was sold at an average price of $49.29, for a total value of $10,744,529.94. Following the sale, the CEO now owns 504,715 shares of the company, valued at approximately $24,877,402.35. The disclosure of this sale can be found here. In the past 90 days, insiders have sold 241,156 shares of the company worth $11,790,954. Insiders own 1.80% of the shares of the company.

Institutional investors weigh in on Chewy

Hedge funds and other institutional investors have recently changed their positions in the company. Clearstead Advisors LLC increased its position in Chewy shares by 27.2% during the second quarter. Clearstead Advisors LLC now owns 1,103 shares of the company worth $38,000 after acquiring 236 additional shares in the last quarter. OLD National Bancorp IN increased its position in Chewy shares by 1.8% during the second quarter. OLD National Bancorp IN now owns 15,517 shares of the company worth $539,000 after acquiring 272 additional shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its position in Chewy shares by 3.0% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 9,914 shares of the company worth $585,000 after acquiring 289 additional shares in the last quarter. Cetera Advisor Networks LLC increased its position in Chewy shares by 3.6% during the second quarter. Cetera Advisor Networks LLC now owns 8,804 shares of the company worth $306,000 after acquiring 305 additional shares in the last quarter. Finally, Prospera Financial Services Inc increased its position in Chewy by 43.6% during the second quarter. Prospera Financial Services Inc now owns 1,212 shares of the company worth $42,000 after purchasing 368 additional shares during the period. Institutional investors and hedge funds own 99.39% of the company’s shares.

Analyst upgrades and downgrades

CHWY has been the subject of a number of recent research reports. Wolfe Research raised its target price on Chewy from $32.00 to $38.00 and gave the company an “outperform” rating in a Thursday, June 2 research report. UBS Group reduced its target price on Chewy from $42.00 to $23.00 and set a “neutral” rating for the company in a Tuesday, May 31 research note. Barclays raised its price target on Chewy from $28.00 to $30.00 and gave the stock an “equal weight” rating in a Monday August 29 research note. Evercore ISI reduced its target price on Chewy to $54.00 in a Tuesday, September 6 research note. Finally, Morgan Stanley cut its price target on Chewy from $42.00 to $39.00 and set an “equal weight” rating for the company in a Wednesday, August 31 research note. Seven analysts gave the stock a hold rating and ten gave the stock a buy rating. Based on data from MarketBeat, Chewy currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.44.

Soft stock up 1.2%

CHWY stock opened at $35.59 on Tuesday. The company’s 50-day moving average is $40.73 and its two-hundred-day moving average is $37.06. Chewy has a 1-year low of $22.22 and a 1-year high of $80.57.

Chewy (NYSE:CHWY – Get Rating) last released its quarterly results on Tuesday, August 30. The company reported earnings per share (EPS) of $0.05 for the quarter, beating analyst consensus estimates of ($0.11) by $0.16. The company posted revenue of $2.43 billion for the quarter, versus analyst estimates of $2.45 billion. Chewy had a negative return on equity of 85.74% and a negative net margin of 0.58%. Chewy’s revenue for the quarter increased 12.8% from the same quarter last year. In the same quarter last year, the company achieved EPS of ($0.04). On average, equity research analysts expect Chewy to post -0.11 EPS for the current fiscal year.

About Chewy

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Chewy, Inc, together with its subsidiaries, engages in pure play e-commerce in the United States. The Company 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 its retail site www.chewy.com. Website, as well as its mobile applications.

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