Cambridge Investment Research Advisors Inc. Has $630,000 Holdings in Chegg, Inc. (NYSE:CHGG)

Cambridge Investment Research Advisors Inc. cut its holdings in Chegg, Inc. (NYSE:CHGG) by 19.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,351 shares of the technology company’s stock after selling 1,762 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Chegg were worth $630,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CHGG. Alliancebernstein L.P. grew its stake in shares of Chegg by 109.2% in the first quarter. Alliancebernstein L.P. now owns 4,357,627 shares of the technology company’s stock valued at $373,274,000 after buying an additional 2,274,655 shares in the last quarter. Baillie Gifford & Co. grew its stake in shares of Chegg by 12.2% in the first quarter. Baillie Gifford & Co. now owns 17,930,195 shares of the technology company’s stock valued at $1,535,900,000 after buying an additional 1,944,355 shares in the last quarter. Norges Bank bought a new position in shares of Chegg in the fourth quarter valued at $113,733,000. FMR LLC grew its stake in shares of Chegg by 18,377.4% in the first quarter. FMR LLC now owns 599,961 shares of the technology company’s stock valued at $22,871,000 after buying an additional 596,714 shares in the last quarter. Finally, Berkshire Capital Holdings Inc. grew its stake in shares of Chegg by 4,878,100.0% in the fourth quarter. Berkshire Capital Holdings Inc. now owns 487,820 shares of the technology company’s stock valued at $44,065,000 after buying an additional 487,810 shares in the last quarter. Institutional investors own 97.22% of the company’s stock.

CHGG stock opened at $76.09 on Friday. The firm has a market capitalization of $10.80 billion, a P/E ratio of -146.32, a PEG ratio of 3.60 and a beta of 0.84. The company has a 50-day moving average of $83.38. Chegg, Inc. has a 52 week low of $54.85 and a 52 week high of $115.21. The company has a debt-to-equity ratio of 1.35, a quick ratio of 7.71 and a current ratio of 7.71.

Chegg (NYSE:CHGG) last posted its quarterly earnings results on Sunday, May 2nd. The technology company reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.02). The company had revenue of $198.40 million during the quarter, compared to analyst estimates of $184.59 million. Chegg had a negative net margin of 9.24% and a positive return on equity of 14.04%. The firm’s revenue for the quarter was up 50.8% compared to the same quarter last year. During the same period last year, the firm earned $0.22 EPS. As a group, analysts anticipate that Chegg, Inc. will post 0.82 EPS for the current fiscal year.

CHGG has been the subject of a number of research analyst reports. Raymond James reduced their price objective on shares of Chegg from $120.00 to $100.00 and set an “outperform” rating for the company in a research report on Tuesday, May 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $120.00 price objective on shares of Chegg in a research report on Monday, March 22nd. Lake Street Capital reduced their price objective on shares of Chegg from $98.00 to $93.00 and set a “hold” rating for the company in a research report on Tuesday, May 4th. FBN Securities initiated coverage on shares of Chegg in a research report on Tuesday, March 30th. They set an “outperform” rating and a $105.00 price objective for the company. Finally, Zacks Investment Research cut shares of Chegg from a “hold” rating to a “sell” rating in a research report on Tuesday, May 4th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company. Chegg presently has a consensus rating of “Buy” and an average price target of $104.22.

In other Chegg news, insider Nathan J. Schultz sold 30,000 shares of the business’s stock in a transaction dated Monday, April 26th. The stock was sold at an average price of $95.26, for a total transaction of $2,857,800.00. Following the completion of the transaction, the insider now owns 257,127 shares of the company’s stock, valued at $24,493,918.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John Paul Fillmore sold 19,714 shares of the business’s stock in a transaction dated Tuesday, April 13th. The stock was sold at an average price of $90.79, for a total value of $1,789,834.06. Following the transaction, the insider now directly owns 138,146 shares of the company’s stock, valued at approximately $12,542,275.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 114,163 shares of company stock valued at $10,495,808. 1.90% of the stock is owned by insiders.

Chegg Company Profile

Chegg, Inc operates direct-to-student learning platform that supports students on their journey from high school to college and into their career with tools designed to help them to learn their course materials, succeed in their classes, and save money on required materials. The company offers Chegg Services, which include subscription services; and required materials that comprise its print textbooks and eTextbooks.

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Institutional Ownership by Quarter for Chegg (NYSE:CHGG)

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