Kazazian Asset Management LLC Invests $4.83 Million in Chewy, Inc. (NYSE:CHWY)

Kazazian Asset Management LLC purchased a new position in shares of Chewy, Inc. (NYSE:CHWY) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 144,222 shares of the company’s stock, valued at approximately $4,830,000. Chewy makes up approximately 3.7% of Kazazian Asset Management LLC’s portfolio, making the stock its 5th biggest position.

Several other institutional investors have also modified their holdings of CHWY. Fifth Third Bancorp raised its position in shares of Chewy by 83.0% during the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock worth $33,000 after purchasing an additional 444 shares during the last quarter. Blue Trust Inc. raised its position in shares of Chewy by 22.9% during the 4th quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock worth $58,000 after purchasing an additional 320 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Chewy during the 3rd quarter worth approximately $63,000. Allworth Financial LP raised its position in shares of Chewy by 52.0% during the 4th quarter. Allworth Financial LP now owns 1,900 shares of the company’s stock worth $71,000 after purchasing an additional 650 shares during the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of Chewy during the 4th quarter worth approximately $86,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CHWY. Robert W. Baird lifted their price objective on Chewy from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, November 25th. Argus upgraded Chewy from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft boosted their price target on Chewy from $24.00 to $28.00 and gave the company a “hold” rating in a report on Friday, November 22nd. Piper Sandler upped their price objective on Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Finally, Mizuho upgraded Chewy from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $24.00 to $42.00 in a report on Monday, January 6th. Five investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Chewy currently has a consensus rating of “Moderate Buy” and an average price target of $37.30.

Chewy Price Performance

NYSE:CHWY opened at $31.96 on Wednesday. The firm has a 50-day moving average of $36.46 and a two-hundred day moving average of $32.92. The stock has a market cap of $13.01 billion, a P/E ratio of 35.12, a PEG ratio of 2.21 and a beta of 1.23. Chewy, Inc. has a 1-year low of $14.69 and a 1-year high of $40.09.

Insider Buying and Selling at Chewy

In other news, CTO Satish Mehta sold 168,105 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $36.32, for a total value of $6,105,573.60. Following the sale, the chief technology officer now owns 417,857 shares in the company, valued at approximately $15,176,566.24. This represents a 28.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $35.77, for a total transaction of $250,390,000.00. The disclosure for this sale can be found here. Insiders sold a total of 8,797,494 shares of company stock valued at $315,156,588 in the last ninety days. Insiders own 2.10% of the company’s stock.

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.