Chegg, Inc. (NYSE:CHGG) Shares Acquired by AIA Group Ltd

AIA Group Ltd boosted its holdings in Chegg, Inc. (NYSE:CHGGGet Rating) by 2.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 65,270 shares of the technology company’s stock after buying an additional 1,866 shares during the quarter. AIA Group Ltd owned 0.05% of Chegg worth $1,375,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Bank Julius Baer & Co. Ltd Zurich grew its position in Chegg by 42.5% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,810 shares of the technology company’s stock worth $34,000 after buying an additional 540 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Chegg by 1.5% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 39,364 shares of the technology company’s stock worth $739,000 after purchasing an additional 574 shares in the last quarter. Amalgamated Bank grew its position in Chegg by 2.6% during the 1st quarter. Amalgamated Bank now owns 30,099 shares of the technology company’s stock worth $1,092,000 after purchasing an additional 758 shares in the last quarter. Captrust Financial Advisors grew its position in Chegg by 79.6% during the 1st quarter. Captrust Financial Advisors now owns 2,012 shares of the technology company’s stock worth $73,000 after purchasing an additional 892 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd grew its position in Chegg by 5.5% during the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 21,855 shares of the technology company’s stock worth $410,000 after purchasing an additional 1,132 shares in the last quarter. Institutional investors and hedge funds own 92.88% of the company’s stock.

Insider Buying and Selling

In related news, COO Nathan J. Schultz sold 25,000 shares of Chegg stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $25.35, for a total value of $633,750.00. Following the transaction, the chief operating officer now owns 237,500 shares in the company, valued at approximately $6,020,625. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Nathan J. Schultz sold 25,000 shares of Chegg stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $25.35, for a total value of $633,750.00. Following the transaction, the chief operating officer now owns 237,500 shares in the company, valued at approximately $6,020,625. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul Leblanc sold 12,890 shares of Chegg stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $28.00, for a total transaction of $360,920.00. Following the completion of the transaction, the director now owns 11,861 shares in the company, valued at approximately $332,108. The disclosure for this sale can be found here. Insiders own 2.25% of the company’s stock.

Chegg Stock Down 1.7 %

CHGG stock opened at $20.63 on Wednesday. The company has a current ratio of 7.19, a quick ratio of 7.19 and a debt-to-equity ratio of 1.13. Chegg, Inc. has a 1 year low of $15.66 and a 1 year high of $37.64. The company has a fifty day simple moving average of $26.36 and a 200 day simple moving average of $23.32. The firm has a market cap of $2.59 billion, a PE ratio of 13.94, a PEG ratio of 3.21 and a beta of 1.11.

Chegg (NYSE:CHGGGet Rating) last released its quarterly earnings data on Tuesday, November 1st. The technology company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.04. The business had revenue of $164.74 million during the quarter, compared to analyst estimates of $158.20 million. Chegg had a net margin of 37.58% and a return on equity of 7.19%. Sell-side analysts anticipate that Chegg, Inc. will post 0.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CHGG. KeyCorp upgraded shares of Chegg from a “sector weight” rating to an “overweight” rating and set a $29.00 price objective on the stock in a research report on Thursday, January 19th. StockNews.com began coverage on shares of Chegg in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Needham & Company LLC cut shares of Chegg from a “buy” rating to a “hold” rating in a research report on Wednesday, January 18th. Northland Securities lifted their price objective on shares of Chegg from $32.00 to $35.00 in a research report on Friday, December 2nd. Finally, Citigroup lifted their target price on shares of Chegg from $25.00 to $29.00 and gave the company a “neutral” rating in a research note on Wednesday, November 2nd. Eleven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Chegg currently has an average rating of “Hold” and a consensus target price of $26.18.

Chegg Profile

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Chegg, Inc operates a 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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