NBW Capital LLC decreased its stake in shares of Chegg Inc (NYSE:CHGG) by 16.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 110,355 shares of the technology company’s stock after selling 21,356 shares during the quarter. NBW Capital LLC owned approximately 0.10% of Chegg worth $1,801,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of CHGG. California Public Employees Retirement System purchased a new position in shares of Chegg in the 2nd quarter valued at about $408,000. Parametric Portfolio Associates LLC increased its holdings in shares of Chegg by 4.2% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 45,058 shares of the technology company’s stock valued at $554,000 after acquiring an additional 1,823 shares during the last quarter. State Street Corp increased its holdings in shares of Chegg by 10.5% in the 2nd quarter. State Street Corp now owns 1,471,490 shares of the technology company’s stock valued at $18,086,000 after acquiring an additional 139,563 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Chegg by 3.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 65,306 shares of the technology company’s stock valued at $802,000 after acquiring an additional 2,074 shares during the last quarter. Finally, Nationwide Fund Advisors increased its holdings in shares of Chegg by 9.7% in the 3rd quarter. Nationwide Fund Advisors now owns 51,610 shares of the technology company’s stock valued at $766,000 after acquiring an additional 4,563 shares during the last quarter.
CHGG has been the topic of a number of recent analyst reports. Citigroup initiated coverage on Chegg in a report on Monday, November 20th. They issued a “buy” rating and a $19.00 price objective on the stock. Northland Securities reiterated a “buy” rating and issued a $20.00 price objective on shares of Chegg in a report on Tuesday, January 9th. BMO Capital Markets reissued a “buy” rating and issued a $20.00 target price on shares of Chegg in a research report on Wednesday, January 17th. Lake Street Capital upped their target price on Chegg from $15.00 to $16.00 and gave the company a “hold” rating in a research report on Tuesday, February 13th. Finally, JPMorgan Chase & Co. upped their target price on Chegg from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. Chegg has a consensus rating of “Buy” and an average price target of $17.58.
Shares of Chegg Inc (NYSE CHGG) opened at $22.23 on Monday. Chegg Inc has a 1 year low of $7.84 and a 1 year high of $23.22. The stock has a market capitalization of $2,444.47, a PE ratio of -105.85, a P/E/G ratio of 7.54 and a beta of 1.49.
Chegg (NYSE:CHGG) last posted its quarterly earnings data on Monday, February 12th. The technology company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. Chegg had a negative return on equity of 2.37% and a negative net margin of 7.95%. The company had revenue of $73.51 million during the quarter, compared to analysts’ expectations of $70.61 million. During the same period last year, the firm earned $0.10 EPS. The firm’s revenue for the quarter was up 16.5% on a year-over-year basis. research analysts anticipate that Chegg Inc will post 0.12 EPS for the current year.
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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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