Assetmark Inc. Purchases 13,395 Shares of Chewy, Inc. (NYSE:CHWY)

Assetmark Inc. boosted its stake in shares of Chewy, Inc. (NYSE:CHWY) by 29.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,593 shares of the company’s stock after purchasing an additional 13,395 shares during the quarter. Assetmark Inc.’s holdings in Chewy were worth $1,745,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. 1620 Investment Advisors Inc. acquired a new position in Chewy in the 2nd quarter valued at $33,000. Blue Trust Inc. raised its position in shares of Chewy by 183.6% in the third quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock valued at $38,000 after buying an additional 905 shares in the last quarter. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Chewy in the second quarter valued at approximately $44,000. First Horizon Advisors Inc. acquired a new stake in Chewy during the second quarter worth approximately $48,000. Finally, Skylands Capital LLC acquired a new stake in Chewy during the second quarter worth approximately $52,000. Institutional investors own 93.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CHWY shares. JPMorgan Chase & Co. upped their target price on Chewy from $28.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Bank of America upped their price objective on shares of Chewy from $20.00 to $24.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Robert W. Baird raised their target price on shares of Chewy from $26.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. UBS Group upped their price target on shares of Chewy from $21.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Chewy in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $30.15.

Insider Transactions at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of Chewy stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $29.40, for a total value of $789,999,991.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.10% of the stock is currently owned by corporate insiders.

Chewy Stock Down 1.0 %

Shares of NYSE:CHWY opened at $32.40 on Friday. The firm has a market cap of $13.55 billion, a P/E ratio of 39.52, a P/E/G ratio of 3.29 and a beta of 1.06. The business has a fifty day simple moving average of $29.23 and a 200 day simple moving average of $25.18. Chewy, Inc. has a 12-month low of $14.69 and a 12-month high of $39.10.

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

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.