San Francisco Sentry Investment Group CA bought a new stake in shares of Chegg Inc (NYSE:CHGG) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 359 shares of the technology company’s stock, valued at approximately $26,000.
Other large investors have also bought and sold shares of the company. V Wealth Advisors LLC acquired a new stake in Chegg during the third quarter worth about $221,000. Arthur M. Cohen & Associates LLC purchased a new stake in Chegg in the 3rd quarter worth approximately $505,000. Vivid Financial Management Inc. grew its stake in shares of Chegg by 1.4% during the 3rd quarter. Vivid Financial Management Inc. now owns 9,657 shares of the technology company’s stock worth $690,000 after purchasing an additional 134 shares during the period. Flagship Harbor Advisors LLC increased its holdings in shares of Chegg by 108.7% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 530 shares of the technology company’s stock valued at $37,000 after purchasing an additional 276 shares in the last quarter. Finally, Harbour Capital Advisors LLC lifted its stake in shares of Chegg by 70.6% in the 3rd quarter. Harbour Capital Advisors LLC now owns 6,950 shares of the technology company’s stock valued at $497,000 after purchasing an additional 2,875 shares during the period.
In other Chegg news, CEO Daniel Rosensweig sold 28,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $84.61, for a total transaction of $2,369,080.00. Following the completion of the sale, the chief executive officer now directly owns 2,063,179 shares in the company, valued at $174,565,575.19. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CMO Esther Lem sold 2,263 shares of the firm’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $73.89, for a total transaction of $167,213.07. Following the completion of the transaction, the chief marketing officer now directly owns 160,257 shares in the company, valued at approximately $11,841,389.73. The disclosure for this sale can be found here. Insiders have sold 180,043 shares of company stock worth $14,155,530 over the last quarter. 3.10% of the stock is currently owned by company insiders.
A number of research analysts have weighed in on the stock. Northland Securities lifted their price objective on shares of Chegg from $75.00 to $95.00 in a report on Tuesday, August 4th. Piper Sandler began coverage on Chegg in a research report on Wednesday, August 26th. They set an “overweight” rating and a $90.00 price target on the stock. Barrington Research reissued a “buy” rating and issued a $60.00 price objective on shares of Chegg in a report on Friday, July 31st. Craig Hallum upped their target price on Chegg from $65.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Finally, Jefferies Financial Group lifted their price target on Chegg from $80.00 to $99.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $85.13.
Chegg stock opened at $84.39 on Friday. Chegg Inc has a fifty-two week low of $25.89 and a fifty-two week high of $89.82. The company has a market capitalization of $10.43 billion, a price-to-earnings ratio of -8,430.57, a PEG ratio of 4.07 and a beta of 0.97. The stock has a fifty day moving average of $71.96 and a two-hundred day moving average of $64.24. The company has a debt-to-equity ratio of 1.86, a quick ratio of 8.20 and a current ratio of 8.20.
Chegg (NYSE:CHGG) last announced its earnings results on Monday, August 3rd. The technology company reported $0.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.05. The firm had revenue of $153.01 million for the quarter, compared to analyst estimates of $117.79 million. Chegg had a net margin of 0.32% and a return on equity of 15.48%. Chegg’s revenue was up 63.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.23 earnings per share. On average, analysts forecast that Chegg Inc will post 0.68 EPS for the current fiscal year.
Chegg, Inc operates direct-to-student learning platform that supports students on their journey from high school to college and into their career with tools designed to help them pass their test, pass their class, and save money on required materials. The company offers Chegg Services, which include digital products and services; and required materials that comprise its print textbooks and eTextbooks.
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