ArrowMark Colorado Holdings LLC Buys 138,768 Shares of Chewy, Inc. (NYSE:CHWY)

ArrowMark Colorado Holdings LLC raised its stake in Chewy, Inc. (NYSE:CHWY) by 5.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,765,931 shares of the company’s stock after purchasing an additional 138,768 shares during the period. ArrowMark Colorado Holdings LLC’s holdings in Chewy were worth $81,014,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. 1620 Investment Advisors Inc. acquired a new stake in Chewy during the second quarter worth $33,000. Blue Trust Inc. increased its stake in 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 acquiring an additional 905 shares during the period. Industrial Alliance Investment Management Inc. acquired a new position in Chewy in the second quarter worth about $44,000. First Horizon Advisors Inc. bought a new position in Chewy during the second quarter worth about $48,000. Finally, Planning Capital Management Corp acquired a new stake in Chewy during the third quarter valued at approximately $52,000. 93.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on CHWY. Evercore ISI raised their target price on Chewy from $22.00 to $29.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. Morgan Stanley boosted their target price on shares of Chewy from $33.00 to $36.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Bank of America upgraded shares of Chewy from an “underperform” rating to a “buy” rating and increased their target price for the stock from $24.00 to $40.00 in a research report on Wednesday, November 20th. Needham & Company LLC restated a “hold” rating on shares of Chewy in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Chewy from $24.00 to $28.00 and gave the stock a “hold” rating in a report on Friday, November 22nd. Eight equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Chewy currently has an average rating of “Moderate Buy” and an average target price of $32.35.

Insider Activity 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 shares were sold at an average price of $29.40, for a total value of $789,999,991.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.10% of the stock is owned by corporate insiders.

Chewy Stock Performance

Shares of NYSE:CHWY opened at $33.41 on Monday. The company has a 50 day moving average price of $30.16 and a two-hundred day moving average price of $26.75. The company has a market capitalization of $13.97 billion, a PE ratio of 40.74, a PEG ratio of 3.13 and a beta of 1.06. Chewy, Inc. has a 52 week low of $14.69 and a 52 week high of $39.10.

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.