Anson Funds Management LP Makes New $1.42 Million Investment in Chewy $CHWY

Anson Funds Management LP purchased a new stake in shares of Chewy (NYSE:CHWY) in the third quarter, HoldingsChannel reports. The institutional investor purchased 35,000 shares of the company’s stock, valued at approximately $1,416,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quent Capital LLC bought a new position in shares of Chewy in the 3rd quarter worth approximately $27,000. Osterweis Capital Management Inc. bought a new stake in Chewy during the second quarter valued at approximately $30,000. Princeton Global Asset Management LLC purchased a new stake in Chewy during the third quarter valued at approximately $40,000. EverSource Wealth Advisors LLC increased its holdings in Chewy by 412.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,091 shares of the company’s stock valued at $46,000 after buying an additional 878 shares during the last quarter. Finally, Root Financial Partners LLC bought a new position in Chewy in the third quarter worth approximately $50,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CHWY. Wedbush set a $42.00 price target on shares of Chewy and gave the stock an “outperform” rating in a research note on Wednesday, December 10th. Wolfe Research set a $44.00 price objective on Chewy in a research note on Monday, January 5th. Morgan Stanley decreased their target price on Chewy from $51.00 to $50.00 and set an “overweight” rating on the stock in a report on Tuesday, March 10th. Wall Street Zen upgraded Chewy from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. Finally, TD Cowen decreased their target price on shares of Chewy from $48.00 to $39.00 and set a “buy” rating on the stock in a research note on Tuesday, March 10th. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $45.55.

Chewy Price Performance

Shares of CHWY opened at $25.46 on Friday. Chewy has a 1 year low of $23.06 and a 1 year high of $48.62. The company has a 50 day simple moving average of $28.46 and a two-hundred day simple moving average of $33.26. The firm has a market cap of $10.57 billion, a P/E ratio of 53.04, a price-to-earnings-growth ratio of 1.72 and a beta of 1.60.

Chewy (NYSE:CHWY) last issued its earnings results on Wednesday, December 10th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.01. Chewy had a return on equity of 56.78% and a net margin of 1.64%.The firm had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same period in the previous year, the firm posted $0.20 earnings per share. The business’s revenue was up 8.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Chewy will post 0.24 earnings per share for the current year.

Insider Transactions at Chewy

In other news, CTO Satish Mehta sold 13,013 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $28.99, for a total transaction of $377,246.87. Following the sale, the chief technology officer directly owned 273,835 shares in the company, valued at approximately $7,938,476.65. This represents a 4.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.43% of the stock is currently owned by insiders.

About Chewy

Chewy, Inc (NYSE: CHWY) is a leading e-commerce retailer specializing in pet food, supplies and services. The company offers a comprehensive assortment of products for dogs, cats, fish, birds and other small animals, including prescription medications, veterinary health products, grooming essentials and toys. Through its online platform and mobile app, Chewy provides an intuitive shopping experience with features such as Autoship, ensuring regular deliveries of pet essentials at schedule intervals.

Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated under the name Mr.