United Capital Financial Advisers LLC Has $325,000 Stock Holdings in Chegg, Inc. (NYSE:CHGG)


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United Capital Financial Advisers LLC lessened its holdings in shares of Chegg, Inc. (NYSE:CHGG) by 6.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 3,594 shares of the technology company’s stock after selling 263 shares during the period. United Capital Financial Advisers LLC’s holdings in Chegg were worth $325,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC raised its holdings in Chegg by 18,377.4% in the 1st quarter. FMR LLC now owns 599,961 shares of the technology company’s stock valued at $22,871,000 after acquiring an additional 596,714 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Chegg by 196.7% in the 1st quarter. First Trust Advisors LP now owns 163,622 shares of the technology company’s stock worth $6,237,000 after buying an additional 108,483 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its holdings in shares of Chegg by 107.9% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 29,943 shares of the technology company’s stock worth $1,141,000 after buying an additional 15,543 shares in the last quarter. Great West Life Assurance Co. Can raised its holdings in shares of Chegg by 23.4% in the 3rd quarter. Great West Life Assurance Co. Can now owns 10,609 shares of the technology company’s stock worth $619,000 after buying an additional 2,015 shares in the last quarter. Finally, Truist Financial Corp raised its holdings in shares of Chegg by 3.2% in the 3rd quarter. Truist Financial Corp now owns 42,308 shares of the technology company’s stock worth $3,023,000 after buying an additional 1,313 shares in the last quarter. 98.48% of the stock is owned by institutional investors and hedge funds.

In other Chegg news, insider John Paul Fillmore sold 51,505 shares of Chegg stock in a transaction dated Wednesday, March 3rd. The stock was sold at an average price of $90.15, for a total value of $4,643,175.75. Following the sale, the insider now owns 160,159 shares of the company’s stock, valued at approximately $14,438,333.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Esther Lem sold 34,449 shares of Chegg stock in a transaction dated Monday, March 15th. The shares were sold at an average price of $89.34, for a total value of $3,077,673.66. Following the completion of the sale, the chief marketing officer now directly owns 157,835 shares in the company, valued at approximately $14,100,978.90. The disclosure for this sale can be found here. Insiders have sold a total of 385,954 shares of company stock worth $37,585,849 in the last ninety days. 3.10% of the stock is currently owned by company insiders.

A number of equities analysts have recently issued reports on CHGG shares. BMO Capital Markets increased their target price on Chegg from $91.00 to $106.00 and gave the stock a “market perform” rating in a report on Tuesday, February 9th. Jefferies Financial Group increased their target price on Chegg from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, February 9th. KeyCorp increased their target price on Chegg from $120.00 to $124.00 and gave the stock an “overweight” rating in a report on Tuesday, February 9th. Bank of America increased their price target on Chegg from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, January 14th. Finally, Lake Street Capital increased their price target on Chegg from $85.00 to $98.00 and gave the stock a “hold” rating in a research report on Tuesday, February 9th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. Chegg presently has a consensus rating of “Buy” and an average target price of $104.78.

NYSE:CHGG opened at $88.39 on Thursday. The firm has a market capitalization of $11.44 billion, a P/E ratio of -441.95, a P/E/G ratio of 3.14 and a beta of 0.99. Chegg, Inc. has a 12-month low of $34.93 and a 12-month high of $115.21. The company has a quick ratio of 9.09, a current ratio of 9.09 and a debt-to-equity ratio of 2.38. The stock’s fifty day simple moving average is $92.32 and its 200-day simple moving average is $86.59.

Chegg (NYSE:CHGG) last issued its quarterly earnings data on Sunday, February 7th. The technology company reported $0.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.06. The business had revenue of $205.70 million for the quarter, compared to the consensus estimate of $153.90 million. Chegg had a positive return on equity of 13.35% and a negative net margin of 4.26%. The firm’s revenue was up 63.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.35 EPS. As a group, equities research analysts expect that Chegg, Inc. will post 0.69 earnings per share for the current year.

Chegg Company Profile

Chegg, Inc engages in the operations of learning platform for students. It intends to empower students to take control of their education and help the students study, college admissions exams, accomplish their goals, get grades and test scores. The firm offers required and non-required scholastic materials including textbooks in any format, access to online homework help and textbook solutions, course organization and scheduling, college and university matching tools and scholarship connections.

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Institutional Ownership by Quarter for Chegg (NYSE:CHGG)

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