Chegg, Inc. (NYSE:CHGG) Shares Acquired by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC increased its stake in shares of Chegg, Inc. (NYSE:CHGG – Get Rating) by 5.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 121,593 shares of the technology company’s stock after purchasing an additional 6,262 shares during the period. Commonwealth Equity Services LLC owned 0.10% of Chegg worth $2,561,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Wipfli Financial Advisors LLC acquired a new position in shares of Chegg during the 3rd quarter worth about $36,000. Captrust Financial Advisors raised its position in shares of 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 during the last quarter. Toroso Investments LLC acquired a new position in shares of Chegg during the 1st quarter worth about $230,000. Rockefeller Capital Management L.P. raised its position in shares of Chegg by 149.6% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 6,685 shares of the technology company’s stock worth $140,000 after purchasing an additional 4,007 shares during the last quarter. Finally, MetLife Investment Management LLC purchased a new stake in Chegg during the 1st quarter valued at about $265,000. Institutional investors and hedge funds own 92.88% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CHGG. JPMorgan Chase & Co. dropped their price objective on shares of Chegg from $23.00 to $19.00 and set a “neutral” rating for the company in a research note on Tuesday, February 7th. Needham & Company LLC cut shares of Chegg from a “buy” rating to a “hold” rating in a research note on Wednesday, January 18th. Barrington Research dropped their price objective on shares of Chegg from $30.00 to $22.00 and set an “outperform” rating for the company in a research note on Tuesday, February 7th. The Goldman Sachs Group dropped their price objective on shares of Chegg from $24.00 to $18.00 and set a “neutral” rating for the company in a research note on Wednesday, February 8th. Finally, StockNews.com cut shares of Chegg from a “buy” rating to a “hold” rating in a research note on Saturday, March 4th. Ten research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Chegg presently has a consensus rating of “Hold” and an average price target of $22.00.

Insider Buying and Selling

In related news, COO Nathan J. Schultz sold 4,041 shares of the stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $15.64, for a total transaction of $63,201.24. Following the completion of the transaction, the chief operating officer now owns 224,637 shares of the company’s stock, valued at approximately $3,513,322.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Chegg news, COO Nathan J. Schultz sold 25,000 shares of the stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 237,500 shares in the company, valued at approximately $6,020,625. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Nathan J. Schultz sold 4,041 shares of the stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $15.64, for a total transaction of $63,201.24. Following the sale, the chief operating officer now owns 224,637 shares in the company, valued at $3,513,322.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,741 shares of company stock valued at $793,053. Company insiders own 2.25% of the company’s stock.

Chegg Stock Performance

Chegg stock opened at $15.89 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 8.24 and a quick ratio of 8.24. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 11.86, a price-to-earnings-growth ratio of 4.72 and a beta of 1.13. The firm has a 50 day simple moving average of $19.73 and a 200-day simple moving average of $22.57. Chegg, Inc. has a 1-year low of $15.30 and a 1-year high of $37.64.

Chegg (NYSE:CHGG – Get Rating) last posted its quarterly earnings data on Monday, February 6th. The technology company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. The firm had revenue of $205.19 million during the quarter, compared to analysts’ expectations of $202.10 million. Chegg had a net margin of 34.77% and a return on equity of 6.41%. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the company posted $0.19 EPS. On average, analysts expect that Chegg, Inc. will post 0.28 EPS for the current year.

About Chegg

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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.