Wipfli Financial Advisors LLC Acquires New Holdings in Chegg, Inc. (NYSE:CHGG)

Wipfli Financial Advisors LLC bought a new stake in shares of Chegg, Inc. (NYSE:CHGG – Get Rating) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 1,713 shares of the technology company’s stock, valued at approximately $36,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Natixis Advisors L.P. increased its stake in shares of Chegg by 152.3% during the 1st quarter. Natixis Advisors L.P. now owns 33,910 shares of the technology company’s stock worth $1,230,000 after purchasing an additional 20,468 shares in the last quarter. MetLife Investment Management LLC acquired a new position in shares of Chegg in the first quarter worth $265,000. Lord Abbett & CO. LLC acquired a new position in shares of Chegg in the first quarter worth $12,124,000. Canada Pension Plan Investment Board lifted its position in shares of Chegg by 280.3% in the first quarter. Canada Pension Plan Investment Board now owns 19,345 shares of the technology company’s stock valued at $702,000 after acquiring an additional 14,258 shares in the last quarter. Finally, Cetera Investment Advisers acquired a new stake in shares of Chegg during the first quarter valued at $275,000. Institutional investors and hedge funds own 92.88% of the company’s stock.

Insider Activity

In related news, COO Nathan J. Schultz sold 25,000 shares of the company’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $25.35, for a total transaction of $633,750.00. Following the completion of the sale, the chief operating officer now directly owns 237,500 shares of the company’s stock, valued at approximately $6,020,625. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 completion of the sale, the director now owns 11,861 shares of the company’s stock, valued at $332,108. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Nathan J. Schultz sold 25,000 shares of the business’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $25.35, for a total transaction of $633,750.00. Following the transaction, the chief operating officer now directly owns 237,500 shares in the company, valued at $6,020,625. The disclosure for this sale can be found here. Insiders own 2.25% of the company’s stock.

Analyst Ratings Changes

CHGG has been the topic of a number of recent research reports. Morgan Stanley upped their target price on shares of Chegg from $24.00 to $31.00 and gave the company an “equal weight” rating in a report on Thursday, December 15th. Needham & Company LLC lowered shares of Chegg from a “buy” rating to a “hold” rating in a research report on Wednesday. Citigroup boosted their price target on Chegg from $25.00 to $29.00 and gave the company a “neutral” rating in a report on Wednesday, November 2nd. Northland Securities increased their price target on Chegg from $32.00 to $35.00 in a research note on Friday, December 2nd. Finally, Barrington Research lifted their price objective on Chegg from $25.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, November 2nd. Twelve equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $25.90.

Chegg Stock Performance

Chegg stock opened at $20.38 on Thursday. The company has a debt-to-equity ratio of 1.13, a current ratio of 7.19 and a quick ratio of 7.19. Chegg, Inc. has a 12 month low of $15.66 and a 12 month high of $37.64. The company has a market cap of $2.56 billion, a price-to-earnings ratio of 13.77, a price-to-earnings-growth ratio of 3.77 and a beta of 1.11. The stock’s 50-day moving average is $26.96 and its 200-day moving average is $23.25.

Chegg (NYSE:CHGG – Get Rating) last posted its quarterly earnings results on Tuesday, November 1st. The technology company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.04. The firm had revenue of $164.74 million for 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%. Equities analysts anticipate that Chegg, Inc. will post 0.41 earnings per share for the current year.

Chegg Company 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.