Russell Investments Group Ltd. reduced its position in shares of Chegg, Inc. (NYSE:CHGG – Get Rating) by 23.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 519,128 shares of the technology company’s stock after selling 154,748 shares during the period. Russell Investments Group Ltd. owned about 0.41% of Chegg worth $13,126,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Arizona State Retirement System increased its position in Chegg by 4.2% in the fourth quarter. Arizona State Retirement System now owns 35,666 shares of the technology company’s stock worth $901,000 after buying an additional 1,454 shares during the period. Hollencrest Capital Management bought a new position in shares of Chegg in the fourth quarter worth $119,000. Envestnet Asset Management Inc. grew its stake in shares of Chegg by 13.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 151,420 shares of the technology company’s stock worth $3,826,000 after purchasing an additional 17,661 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Chegg by 29.9% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 43,232 shares of the technology company’s stock worth $1,092,000 after purchasing an additional 9,962 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its stake in shares of Chegg by 41.8% in the fourth quarter. Los Angeles Capital Management LLC now owns 35,733 shares of the technology company’s stock worth $903,000 after purchasing an additional 10,527 shares in the last quarter. 92.88% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Chegg
In other Chegg news, CMO Esther Lem sold 5,700 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $16.86, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Chegg news, COO Nathan J. Schultz sold 4,041 shares of the firm’s stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $15.64, for a total value of $63,201.24. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Esther Lem sold 5,700 shares of Chegg stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $16.86, for a total value of $96,102.00. Following the sale, the chief marketing officer now directly owns 171,300 shares in the company, valued at approximately $2,888,118. The disclosure for this sale can be found here. Insiders own 2.25% of the company’s stock.
Analyst Ratings Changes
Chegg Stock Performance
Shares of NYSE CHGG opened at $9.47 on Friday. 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 firm has a market cap of $1.13 billion, a price-to-earnings ratio of 7.17, a P/E/G ratio of 24.07 and a beta of 1.15. The business’s 50-day simple moving average is $15.66 and its 200-day simple moving average is $20.87. Chegg, Inc. has a 52 week low of $8.72 and a 52 week high of $30.05.
Chegg (NYSE:CHGG – Get Rating) last issued its quarterly earnings data on Monday, February 6th. The technology company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. The business had revenue of $205.19 million for the quarter, compared to analyst estimates of $202.10 million. Chegg had a return on equity of 4.82% and a net margin of 34.97%. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.19 EPS. As a group, equities research analysts expect that Chegg, Inc. will post 0.03 earnings per share for the current fiscal year.
Chegg Company Profile
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.
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