Rothschild & Co. Asset Management US Inc. purchased a new stake in shares of Chegg Inc (NYSE:CHGG) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 76,850 shares of the technology company’s stock, valued at approximately $2,185,000. Rothschild & Co. Asset Management US Inc. owned approximately 0.07% of Chegg as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently modified their holdings of CHGG. Riverbridge Partners LLC bought a new position in Chegg during the 3rd quarter valued at $32,262,000. FMR LLC boosted its stake in Chegg by 19.3% during the 2nd quarter. FMR LLC now owns 6,321,121 shares of the technology company’s stock valued at $175,664,000 after purchasing an additional 1,022,400 shares in the last quarter. BlackRock Inc. boosted its stake in Chegg by 17.3% during the 2nd quarter. BlackRock Inc. now owns 6,648,320 shares of the technology company’s stock valued at $184,758,000 after purchasing an additional 978,343 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its stake in Chegg by 13,729.5% during the 3rd quarter. Public Employees Retirement Association of Colorado now owns 645,006 shares of the technology company’s stock valued at $18,338,000 after purchasing an additional 640,342 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in Chegg by 414.8% during the 2nd quarter. Bank of America Corp DE now owns 782,849 shares of the technology company’s stock valued at $21,755,000 after purchasing an additional 630,791 shares in the last quarter.
CHGG has been the subject of several research reports. Citigroup raised Chegg from a “neutral” rating to a “buy” rating in a research note on Thursday, October 25th. Barrington Research reissued a “buy” rating and set a $32.00 price objective on shares of Chegg in a research note on Monday, October 22nd. Zacks Investment Research raised Chegg from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Tuesday, October 9th. Craig Hallum raised Chegg from a “hold” rating to a “buy” rating in a research note on Tuesday, October 2nd. Finally, Jefferies Financial Group reduced their price objective on Chegg from $30.00 to $28.00 and set a “hold” rating for the company in a research note on Tuesday, October 30th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $26.80.
In other news, insider Jenny Brandemuehl sold 75,000 shares of the stock in a transaction on Monday, October 1st. The stock was sold at an average price of $28.50, for a total value of $2,137,500.00. Following the completion of the sale, the insider now owns 516,962 shares in the company, valued at $14,733,417. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John E. York sold 12,500 shares of the stock in a transaction on Wednesday, November 21st. The shares were sold at an average price of $25.03, for a total value of $312,875.00. Following the completion of the sale, the director now owns 20,714 shares of the company’s stock, valued at approximately $518,471.42. The disclosure for this sale can be found here. Insiders sold 552,500 shares of company stock valued at $15,301,025 in the last 90 days. Corporate insiders own 10.80% of the company’s stock.
CHGG opened at $27.95 on Friday. The firm has a market cap of $3.20 billion, a PE ratio of 557.80, a P/E/G ratio of 10.81 and a beta of 1.43. The company has a debt-to-equity ratio of 0.72, a current ratio of 6.56 and a quick ratio of 6.56. Chegg Inc has a fifty-two week low of $13.83 and a fifty-two week high of $32.82.
Chegg (NYSE:CHGG) last released its quarterly earnings data on Monday, October 29th. The technology company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.04. The business had revenue of $74.20 million during the quarter, compared to analyst estimates of $69.02 million. Chegg had a positive return on equity of 1.75% and a negative net margin of 5.55%. The company’s revenue was up 18.5% compared to the same quarter last year. During the same period last year, the company posted $0.01 EPS. Equities research analysts forecast that Chegg Inc will post 0.09 earnings per share for the current fiscal year.
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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 pass their test, pass their class, and save money on required materials. The company offers Chegg Services, which include digital products and services; and required materials that comprise its print textbooks and eTextbooks.
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