Why Chewy (CHWY) Stock Is Down Today

Chewy (CHWY) is down 5.9% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely catalyst is a fresh analyst price-target cut from Morgan Stanley, which appears to have pressured sentiment in the absence of any major new company announcement. This could also be because investors are taking a more cautious stance ahead of Chewy’s next quarterly report in early September.

Details:

Morgan Stanley lowered its price target on Chewy to $37 on August 26, 2026, giving traders a negative headline to react to during the session.

Chewy’s most recent investor-relations update was an August 19 notice that it will report fiscal second-quarter 2026 results before the market opens on September 9, 2026.

There does not appear to be a new earnings warning, major filing, or business update from the company today, which makes the analyst action a more plausible reason for the sell-off.

Chewy’s last reported quarter was fundamentally solid, with first-quarter 2026 net sales up 7.7% year over year and adjusted EBITDA margin at 7.5%, suggesting today’s move is more about valuation and expectations than a newly disclosed operating problem.

Sources:

Chewy, StreetInsider, Finviz

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$CHWY Insider Trading Activity

$CHWY insiders have traded $CHWY stock on the open market 8 times in the past 6 months. Of those trades, 0 have been purchases and 8 have been sales.

Here’s a breakdown of recent trading of $CHWY stock by insiders over the last 6 months:

SUMIT SINGH (Chief Executive Officer) has made 0 purchases and 4 sales selling 137,003 shares for an estimated $3,379,131.
DA-WAI HU (General Counsel & Secretary) has made 0 purchases and 3 sales selling 12,352 shares for an estimated $301,205.
CHRISTOPHER S. DEPPE (Chief Financial Officer) sold 3,043 shares for an estimated $81,765

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

$CHWY Hedge Fund Activity

We have seen 285 institutional investors add shares of $CHWY stock to their portfolio, and 383 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

CANADA PENSION PLAN INVESTMENT BOARD added 14,945,614 shares (+285.7%) to their portfolio in Q2 2026, for an estimated $293,681,315
VIKING GLOBAL INVESTORS LP removed 13,536,645 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $365,489,415
FEDERATED HERMES, INC. added 4,306,954 shares (+137.7%) to their portfolio in Q2 2026, for an estimated $84,631,646
HOLOCENE ADVISORS, LP removed 4,043,114 shares (-90.2%) from their portfolio in Q2 2026, for an estimated $79,447,190
AQR CAPITAL MANAGEMENT LLC removed 3,408,663 shares (-20.9%) from their portfolio in Q2 2026, for an estimated $66,980,227
POINT72 ASSET MANAGEMENT, L.P. removed 3,385,153 shares (-64.2%) from their portfolio in Q2 2026, for an estimated $66,518,256
MARSHALL WACE, LLP removed 3,107,696 shares (-100.0%) from their portfolio in Q2 2026, for an estimated $61,066,226

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$CHWY Price Targets

Multiple analysts have issued price targets for $CHWY recently. We have seen 16 analysts offer price targets for $CHWY in the last 6 months, with a median target of $35.0.

Here are some recent targets:

Alexandra Steiger from Goldman Sachs set a target price of $34.0 on 06/12/2026
Justin Kleber from Baird set a target price of $30.0 on 06/11/2026
Andrew Boone from Citizens set a target price of $28.0 on 06/11/2026
Ross Sandler from Barclays set a target price of $36.0 on 06/11/2026
Steven Shemesh from RBC Capital set a target price of $34.0 on 06/11/2026
William Kerr from TD Cowen set a target price of $34.0 on 06/11/2026
Michael Lasser from UBS set a target price of $24.0 on 06/11/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.