Cambridge Investment Research Advisors Inc. Has $787,000 Holdings in Chegg, Inc. (NYSE:CHGG)

Cambridge Investment Research Advisors Inc. lowered its position in Chegg, Inc. (NYSE:CHGG – Get Rating) by 20.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 31,130 shares of the technology company’s stock after selling 8,234 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Chegg were worth $787,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Captrust Financial Advisors lifted its holdings in Chegg by 79.6% in the first quarter. Captrust Financial Advisors now owns 2,012 shares of the technology company’s stock valued at $73,000 after buying an additional 892 shares during the period. Harvest Fund Management Co. Ltd boosted its position in shares of Chegg by 20,880.0% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 4,196 shares of the technology company’s stock valued at $106,000 after purchasing an additional 4,176 shares in the last quarter. Hollencrest Capital Management acquired a new stake in Chegg during the fourth quarter worth approximately $119,000. Rockefeller Capital Management L.P. grew its stake in Chegg by 149.6% during the third 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 period. Finally, Counterpoint Mutual Funds LLC acquired a new position in Chegg in the fourth quarter valued at approximately $146,000. 92.88% of the stock is owned by institutional investors.

Insider Transactions at Chegg

In related news, 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 completion of the sale, the chief operating officer now directly owns 224,637 shares of the company’s stock, valued at $3,513,322.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Nathan J. Schultz sold 4,041 shares of the business’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $15.64, for a total value of $63,201.24. Following the transaction, the chief operating officer now directly owns 224,637 shares of the company’s stock, valued at approximately $3,513,322.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CMO Esther Lem sold 5,700 shares of the firm’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $16.86, for a total transaction of $96,102.00. Following the sale, the chief marketing officer now owns 171,300 shares of the company’s stock, valued at approximately $2,888,118. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Chegg Stock Down 2.2 %

Chegg stock opened at $9.22 on Monday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 4.56 and a current ratio of 4.56. The stock has a market cap of $1.10 billion, a PE ratio of 6.98, a price-to-earnings-growth ratio of 22.39 and a beta of 1.15. Chegg, Inc. has a fifty-two week low of $8.72 and a fifty-two week high of $30.05. The firm’s 50-day simple moving average is $14.81 and its 200 day simple moving average is $20.31.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CHGG. Morgan Stanley lowered their price objective on shares of Chegg from $18.00 to $12.00 in a research note on Tuesday, May 2nd. JPMorgan Chase & Co. cut their price objective on shares of Chegg from $23.00 to $19.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 7th. Piper Sandler decreased their target price on Chegg from $17.00 to $11.00 in a research report on Tuesday, May 2nd. Northland Securities downgraded Chegg from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 2nd. Finally, 888 reissued a “maintains” rating on shares of Chegg in a research note on Wednesday, May 3rd. Eleven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $18.77.

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.