Healthcare of Ontario Pension Plan Trust Fund Acquires New Position in Chegg, Inc. (NYSE:CHGG)

Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Chegg, Inc. (NYSE:CHGGGet Rating) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 161,636 shares of the technology company’s stock, valued at approximately $3,036,000. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.13% of Chegg at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in CHGG. Granahan Investment Management LLC grew its stake in shares of Chegg by 60.5% in the 1st quarter. Granahan Investment Management LLC now owns 2,598,021 shares of the technology company’s stock valued at $94,256,000 after buying an additional 979,467 shares during the period. National Bank of Canada FI grew its stake in shares of Chegg by 133,530.3% in the 2nd quarter. National Bank of Canada FI now owns 600,000 shares of the technology company’s stock valued at $11,268,000 after buying an additional 599,551 shares during the period. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Chegg in the 1st quarter valued at approximately $18,263,000. Lord Abbett & CO. LLC acquired a new position in shares of Chegg in the 1st quarter worth approximately $12,124,000. Finally, Sands Capital Management LLC lifted its holdings in shares of Chegg by 6.9% in the 1st quarter. Sands Capital Management LLC now owns 4,301,885 shares of the technology company’s stock worth $156,072,000 after acquiring an additional 277,333 shares during the last quarter. Hedge funds and other institutional investors own 95.61% of the company’s stock.

Chegg Trading Down 1.0 %

Shares of NYSE:CHGG opened at $28.33 on Wednesday. Chegg, Inc. has a 52 week low of $15.66 and a 52 week high of $37.64. The company’s 50 day moving average is $23.17 and its two-hundred day moving average is $21.01. The company has a current ratio of 7.19, a quick ratio of 7.19 and a debt-to-equity ratio of 1.13. The company has a market cap of $3.55 billion, a PE ratio of 19.14, a P/E/G ratio of 4.54 and a beta of 0.98.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Morgan Stanley upped their price objective on shares of Chegg from $22.00 to $24.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 2nd. TheStreet upgraded shares of Chegg from a “d+” rating to a “c-” rating in a report on Monday, August 22nd. StockNews.com assumed coverage on shares of Chegg in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Piper Sandler upped their price objective on shares of Chegg from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Wednesday, November 2nd. Finally, Citigroup upped their price objective on shares of Chegg from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Wednesday, November 2nd. Eleven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $29.00.

Insider Buying and Selling at Chegg

In other Chegg news, Director Paul Leblanc sold 12,890 shares of the stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $28.00, for a total value of $360,920.00. Following the sale, the director now directly owns 11,861 shares of the company’s stock, valued at approximately $332,108. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.25% of the company’s stock.

Chegg Company Profile

(Get Rating)

Chegg, Inc operates direct-to-student learning platform that supports students starting with their academic journey and extending into their careers with products and services to support and help them better understand their academic course materials. The company offers Chegg Services, which include subscription services; and required materials that comprise its print textbooks and eTextbooks.

Featured Articles

Want to see what other hedge funds are holding CHGG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chegg, Inc. (NYSE:CHGGGet Rating).

Institutional Ownership by Quarter for Chegg (NYSE:CHGG)

Receive News & Ratings for Chegg Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chegg and related companies with MarketBeat.com's FREE daily email newsletter.