Sylebra HK Co Ltd increased its position in shares of Chegg, Inc. (NYSE:CHGG) by 3.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,956,896 shares of the technology company’s stock after purchasing an additional 257,847 shares during the quarter. Chegg makes up about 9.0% of Sylebra HK Co Ltd’s holdings, making the stock its 4th biggest position. Sylebra HK Co Ltd owned approximately 6.42% of Chegg worth $103,240,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in CHGG. Teachers Advisors LLC boosted its holdings in Chegg by 2.5% during the first quarter. Teachers Advisors LLC now owns 134,426 shares of the technology company’s stock worth $1,135,000 after purchasing an additional 3,316 shares during the last quarter. Vanguard Group Inc. boosted its stake in Chegg by 6.9% in the first quarter. Vanguard Group Inc. now owns 2,635,884 shares of the technology company’s stock valued at $22,246,000 after acquiring an additional 169,806 shares during the last quarter. Geode Capital Management LLC boosted its stake in Chegg by 8.5% in the first quarter. Geode Capital Management LLC now owns 469,870 shares of the technology company’s stock valued at $3,965,000 after acquiring an additional 36,745 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Chegg by 4.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 229,459 shares of the technology company’s stock valued at $1,937,000 after acquiring an additional 10,602 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in Chegg by 29.0% in the first quarter. Bank of America Corp DE now owns 14,267 shares of the technology company’s stock valued at $120,000 after acquiring an additional 3,205 shares during the last quarter.
Shares of Chegg, Inc. (CHGG) opened at $15.00 on Monday. Chegg, Inc. has a 12-month low of $6.84 and a 12-month high of $16.50.
Chegg (NYSE:CHGG) last posted its quarterly earnings results on Monday, October 30th. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.02. Chegg had a negative net margin of 10.40% and a negative return on equity of 5.06%. The company had revenue of $62.60 million for the quarter, compared to analyst estimates of $57.75 million. During the same quarter in the previous year, the firm posted ($0.17) earnings per share. The company’s quarterly revenue was down 12.2% compared to the same quarter last year. analysts expect that Chegg, Inc. will post -0.09 earnings per share for the current fiscal year.
A number of research firms have weighed in on CHGG. Barrington Research reiterated an “outperform” rating and issued a $19.00 target price (up from $17.00) on shares of Chegg in a research note on Tuesday, October 31st. First Analysis cut shares of Chegg from an “overweight” rating to an “equal weight” rating and set a $18.00 target price on the stock. in a research note on Tuesday, October 31st. BidaskClub upgraded shares of Chegg from a “hold” rating to a “buy” rating in a research note on Tuesday, October 31st. J P Morgan Chase & Co boosted their target price on shares of Chegg from $15.00 to $18.00 and gave the company an “overweight” rating in a research note on Wednesday, November 1st. Finally, Northland Securities reiterated a “buy” rating and issued a $18.00 target price on shares of Chegg in a research note on Wednesday, November 1st. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Chegg has a consensus rating of “Buy” and a consensus target price of $15.42.
In related news, insider Charles Geiger sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $14.53, for a total transaction of $726,500.00. Following the sale, the insider now owns 561,500 shares of the company’s stock, valued at approximately $8,158,595. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael A. Osier sold 114,928 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $14.69, for a total transaction of $1,688,292.32. Following the sale, the insider now directly owns 591,902 shares in the company, valued at approximately $8,695,040.38. The disclosure for this sale can be found here. In the last three months, insiders sold 645,154 shares of company stock worth $9,466,299. Insiders own 20.40% of the company’s stock.
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Chegg Company Profile
Chegg, Inc is a student-first connected learning platform. The Company helps students study for college admission exams, find the colleges, get grades and test scores while in school, and find internships that allow them to gain skills to help them enter the workforce after college. The Company matches domestic and international students with colleges, universities and other academic institutions (collectively referred to as colleges) in the United States.
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