Legal & General Group Plc Has $170,000 Position in Chegg, Inc. (CHGG)
Legal & General Group Plc cut its stake in shares of Chegg, Inc. (NYSE:CHGG) by 1.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,123 shares of the technology company’s stock after selling 356 shares during the period. Legal & General Group Plc’s holdings in Chegg were worth $170,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the stock. US Bancorp DE raised its stake in Chegg by 4.3% in the first quarter. US Bancorp DE now owns 11,868 shares of the technology company’s stock valued at $100,000 after buying an additional 488 shares during the last quarter. Parkwood LLC raised its stake in Chegg by 26.0% in the first quarter. Parkwood LLC now owns 13,077 shares of the technology company’s stock valued at $110,000 after buying an additional 2,701 shares during the last quarter. Principal Financial Group Inc. raised its stake in Chegg by 7.2% in the first quarter. Principal Financial Group Inc. now owns 13,743 shares of the technology company’s stock valued at $116,000 after buying an additional 926 shares during the last quarter. Highbridge Capital Management LLC bought a new stake in Chegg during the fourth quarter valued at about $110,000. Finally, UBS Asset Management Americas Inc. raised its stake in Chegg by 137.8% in the first quarter. UBS Asset Management Americas Inc. now owns 26,874 shares of the technology company’s stock valued at $227,000 after buying an additional 15,574 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.
Shares of Chegg, Inc. (CHGG) traded up 0.67% during midday trading on Monday, hitting $15.13. The stock had a trading volume of 33,355 shares. Chegg, Inc. has a 52-week low of $6.51 and a 52-week high of $15.95. The firm’s market cap is $1.45 billion. The firm’s 50 day moving average price is $13.65 and its 200 day moving average price is $10.44.
Chegg (NYSE:CHGG) last announced its quarterly earnings data on Tuesday, July 25th. The technology company reported ($0.04) EPS for the quarter, missing the Zacks’ consensus estimate of $0.04 by $0.08. The firm had revenue of $56.30 million during the quarter, compared to analyst estimates of $53.33 million. Chegg had a negative net margin of 11.83% and a negative return on equity of 8.10%. Chegg’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.05 EPS. On average, equities research analysts expect that Chegg, Inc. will post $0.24 earnings per share for the current year.
Several equities research analysts have recently weighed in on the company. UBS AG upgraded Chegg from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 2nd. BidaskClub downgraded Chegg from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 2nd. Northland Securities reiterated a “buy” rating and issued a $16.00 price target on shares of Chegg in a report on Friday, July 28th. Zacks Investment Research upgraded Chegg from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Friday, July 28th. Finally, J P Morgan Chase & Co reiterated an “overweight” rating and issued a $15.00 price target (up from $12.00) on shares of Chegg in a report on Wednesday, July 26th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $13.32.
In related news, insider Andrew J. Brown sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $14.00, for a total value of $1,400,000.00. Following the completion of the sale, the insider now owns 678,760 shares in the company, valued at $9,502,640. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Nathan J. Schultz sold 15,276 shares of the firm’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $12.00, for a total transaction of $183,312.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 522,244 shares of company stock valued at $6,828,478. 20.40% of the stock is owned by insiders.
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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