Ashford Capital Management Inc. decreased its position in Chegg, Inc. (NYSE:CHGG) by 0.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,299,542 shares of the technology company’s stock after selling 20,992 shares during the quarter. Chegg accounts for about 5.5% of Ashford Capital Management Inc.’s investment portfolio, making the stock its 2nd largest holding. Ashford Capital Management Inc. owned approximately 2.12% of Chegg worth $34,125,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the business. Legal & General Group Plc grew its position in Chegg by 2.6% in the second quarter. Legal & General Group Plc now owns 20,648 shares of the technology company’s stock valued at $254,000 after acquiring an additional 525 shares in the last quarter. Amalgamated Bank boosted its stake in shares of Chegg by 9.0% during the 2nd quarter. Amalgamated Bank now owns 10,916 shares of the technology company’s stock valued at $134,000 after buying an additional 905 shares during the last quarter. Nationwide Fund Advisors boosted its stake in shares of Chegg by 2.2% during the 2nd quarter. Nationwide Fund Advisors now owns 47,047 shares of the technology company’s stock valued at $578,000 after buying an additional 1,005 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Chegg by 1.2% during the 2nd quarter. Rhumbline Advisers now owns 92,001 shares of the technology company’s stock valued at $1,131,000 after buying an additional 1,092 shares during the last quarter. Finally, Parametric Portfolio Associates LLC boosted its stake in shares of Chegg by 4.2% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 45,058 shares of the technology company’s stock valued at $554,000 after buying an additional 1,823 shares during the last quarter.
Chegg, Inc. (NYSE:CHGG) opened at $15.31 on Wednesday. Chegg, Inc. has a one year low of $6.84 and a one year high of $16.50.
Chegg (NYSE:CHGG) last announced its quarterly earnings data on Monday, October 30th. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. Chegg had a negative return on equity of 5.06% and a negative net margin of 10.40%. The firm had revenue of $62.60 million for the quarter, compared to analysts’ expectations of $57.75 million. During the same period last year, the business posted ($0.17) earnings per share. The firm’s revenue for the quarter was down 12.2% on a year-over-year basis. research analysts predict that Chegg, Inc. will post -0.09 EPS for the current year.
Several research firms have recently commented on CHGG. Citigroup began coverage on Chegg in a research note on Monday, November 20th. They set a “buy” rating and a $19.00 target price for the company. BidaskClub cut Chegg from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Zacks Investment Research upgraded Chegg from a “sell” rating to a “hold” rating in a research note on Friday, November 3rd. J P Morgan Chase & Co increased their target price on Chegg from $15.00 to $18.00 and gave the company an “overweight” rating in a research note on Wednesday, November 1st. Finally, Northland Securities restated a “buy” rating and set a $18.00 price objective on shares of Chegg in a research note on Wednesday, November 1st. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Chegg has a consensus rating of “Buy” and an average price target of $15.42.
In other Chegg news, insider Esther Lem sold 10,000 shares of the firm’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $14.36, for a total value of $143,600.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michael A. Osier sold 200,000 shares of the firm’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $15.25, for a total value of $3,050,000.00. Following the completion of the sale, the insider now owns 653,061 shares in the company, valued at $9,959,180.25. The disclosure for this sale can be found here. Insiders sold 645,154 shares of company stock worth $9,466,299 over the last quarter. 20.40% of the stock is currently owned by company insiders.
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Chegg Company Profile
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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