Symmetry Peak Management LLC trimmed its holdings in Chegg Inc (NYSE:CHGG) by 90.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,000 shares of the technology company’s stock after selling 98,492 shares during the period. Symmetry Peak Management LLC’s holdings in Chegg were worth $163,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Gilder Gagnon Howe & Co. LLC lifted its holdings in Chegg by 4.2% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 7,337,758 shares of the technology company’s stock valued at $119,752,000 after purchasing an additional 294,847 shares in the last quarter. Sylebra HK Co Ltd lifted its holdings in Chegg by 3.8% in the 3rd quarter. Sylebra HK Co Ltd now owns 6,956,896 shares of the technology company’s stock valued at $103,240,000 after purchasing an additional 257,847 shares in the last quarter. BlackRock Inc. lifted its holdings in Chegg by 1.3% in the 4th quarter. BlackRock Inc. now owns 5,566,601 shares of the technology company’s stock valued at $90,847,000 after purchasing an additional 71,515 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in Chegg by 14.0% in the 4th quarter. Alliancebernstein L.P. now owns 3,331,046 shares of the technology company’s stock valued at $54,363,000 after purchasing an additional 409,956 shares in the last quarter. Finally, TimesSquare Capital Management LLC lifted its holdings in Chegg by 2.7% in the 4th quarter. TimesSquare Capital Management LLC now owns 3,106,385 shares of the technology company’s stock valued at $50,696,000 after purchasing an additional 80,480 shares in the last quarter.
Chegg Inc (CHGG) opened at $21.74 on Friday. Chegg Inc has a 1-year low of $7.91 and a 1-year high of $23.22. The company has a market cap of $2,404.89, a P/E ratio of -103.52, a P/E/G ratio of 7.41 and a beta of 1.49.
Chegg (NYSE:CHGG) last posted its quarterly earnings results on Monday, February 12th. The technology company reported $0.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.02. Chegg had a negative net margin of 7.95% and a negative return on equity of 2.37%. The firm had revenue of $73.51 million for the quarter, compared to analyst estimates of $70.61 million. During the same quarter last year, the firm posted $0.10 earnings per share. Chegg’s revenue for the quarter was up 16.5% compared to the same quarter last year. analysts forecast that Chegg Inc will post 0.12 earnings per share for the current fiscal year.
In other Chegg news, CEO Daniel Rosensweig sold 199,611 shares of the stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $16.00, for a total value of $3,193,776.00. Following the completion of the sale, the chief executive officer now owns 2,207,689 shares of the company’s stock, valued at $35,323,024. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Andrew J. Brown sold 87,500 shares of the stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $22.57, for a total transaction of $1,974,875.00. Following the completion of the sale, the insider now directly owns 709,572 shares of the company’s stock, valued at approximately $16,015,040.04. The disclosure for this sale can be found here. Insiders sold 950,207 shares of company stock worth $17,482,072 in the last 90 days. 20.40% of the stock is currently owned by insiders.
A number of research firms have issued reports on CHGG. JPMorgan Chase & Co. upped their target price on shares of Chegg from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Tuesday, February 13th. ValuEngine lowered shares of Chegg from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Barrington Research reiterated an “outperform” rating and set a $22.00 price objective (up from $19.00) on shares of Chegg in a report on Tuesday, February 13th. Lake Street Capital increased their price objective on shares of Chegg from $15.00 to $16.00 and gave the stock a “hold” rating in a report on Tuesday, February 13th. Finally, Morgan Stanley initiated coverage on shares of Chegg in a report on Monday, February 26th. They set an “equal weight” rating and a $23.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. Chegg currently has an average rating of “Hold” and an average target price of $17.92.
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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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