Chegg, Inc. (CHGG) Shares Bought by TD Asset Management Inc.
TD Asset Management Inc. increased its stake in Chegg, Inc. (NYSE:CHGG) by 10.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 136,913 shares of the technology company’s stock after purchasing an additional 13,341 shares during the period. TD Asset Management Inc. owned approximately 0.13% of Chegg worth $2,032,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in CHGG. Legal & General Group Plc lifted its position in Chegg by 2.6% during the 2nd quarter. Legal & General Group Plc now owns 20,648 shares of the technology company’s stock worth $254,000 after buying an additional 525 shares in the last quarter. Amalgamated Bank lifted its position in Chegg by 9.0% during the 2nd quarter. Amalgamated Bank now owns 10,916 shares of the technology company’s stock worth $134,000 after buying an additional 905 shares in the last quarter. Nationwide Fund Advisors lifted its position in Chegg by 2.2% during the 2nd quarter. Nationwide Fund Advisors now owns 47,047 shares of the technology company’s stock worth $578,000 after buying an additional 1,005 shares in the last quarter. Rhumbline Advisers lifted its position in Chegg by 1.2% during the 2nd quarter. Rhumbline Advisers now owns 92,001 shares of the technology company’s stock worth $1,131,000 after buying an additional 1,092 shares in the last quarter. Finally, Parametric Portfolio Associates LLC lifted its position in Chegg by 4.2% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 45,058 shares of the technology company’s stock worth $554,000 after buying an additional 1,823 shares in the last quarter.
CHGG has been the topic of several analyst reports. Citigroup initiated coverage on shares of Chegg in a research report on Monday, November 20th. They set a “buy” rating and a $19.00 price target on the stock. BidaskClub raised shares of Chegg from a “hold” rating to a “buy” rating in a research report on Tuesday, October 31st. Jefferies Group reissued a “buy” rating and set a $17.00 price target on shares of Chegg in a research report on Thursday, September 7th. Northland Securities reissued a “buy” rating and set a $16.00 price target on shares of Chegg in a research report on Tuesday, August 29th. Finally, First Analysis cut shares of Chegg from an “overweight” rating to an “equal weight” rating and set a $18.00 price target on the stock. in a research report on Tuesday, October 31st. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Chegg currently has a consensus rating of “Buy” and a consensus price target of $15.42.
Shares of Chegg, Inc. (NYSE:CHGG) opened at $15.00 on Friday. Chegg, Inc. has a fifty-two week low of $6.84 and a fifty-two week high of $16.50.
Chegg (NYSE:CHGG) last issued its earnings results on Monday, October 30th. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.02. The company had revenue of $62.60 million for the quarter, compared to analysts’ expectations of $57.75 million. Chegg had a negative net margin of 10.40% and a negative return on equity of 5.06%. Chegg’s quarterly revenue was down 12.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.17) EPS. sell-side analysts forecast that Chegg, Inc. will post -0.09 earnings per share for the current fiscal year.
In other news, insider Michael A. Osier sold 114,928 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $14.69, for a total value of $1,688,292.32. Following the sale, the insider now directly owns 591,902 shares of the company’s stock, valued at approximately $8,695,040.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Charles Geiger sold 50,000 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $14.53, for a total transaction of $726,500.00. Following the completion of the transaction, the insider now directly owns 561,500 shares in the company, valued at $8,158,595. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 645,154 shares of company stock worth $9,466,299. 20.40% of the stock is owned by insiders.
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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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