Standard Life Aberdeen plc Grows Position in Chegg Inc (NYSE:CHGG)

Standard Life Aberdeen plc increased its holdings in shares of Chegg Inc (NYSE:CHGG) by 1.0% in the fourth quarter, Holdings Channel reports. The firm owned 1,167,711 shares of the technology company’s stock after acquiring an additional 11,524 shares during the period. Standard Life Aberdeen plc’s holdings in Chegg were worth $44,274,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CHGG. Nisa Investment Advisors LLC boosted its position in Chegg by 39.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 995 shares of the technology company’s stock valued at $38,000 after buying an additional 280 shares during the last quarter. Symphony Asset Management LLC acquired a new position in shares of Chegg in the fourth quarter worth about $213,000. We Are One Seven LLC purchased a new position in Chegg in the fourth quarter valued at about $227,000. Banque Cantonale Vaudoise purchased a new position in Chegg in the fourth quarter valued at about $238,000. Finally, Daiwa Securities Group Inc. boosted its holdings in Chegg by 49.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 6,596 shares of the technology company’s stock valued at $250,000 after purchasing an additional 2,189 shares during the last quarter.

In other Chegg news, CFO Andrew J. Brown sold 16,542 shares of the business’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $40.06, for a total value of $662,672.52. Following the sale, the chief financial officer now directly owns 262,268 shares in the company, valued at $10,506,456.08. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Dave Jr. Borders sold 6,657 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $38.33, for a total transaction of $255,162.81. Following the completion of the sale, the general counsel now directly owns 292,332 shares of the company’s stock, valued at $11,205,085.56. The disclosure for this sale can be found here. Insiders have sold 544,248 shares of company stock worth $22,436,654 over the last three months. Corporate insiders own 5.80% of the company’s stock.

A number of brokerages have issued reports on CHGG. First Analysis raised Chegg from an “outperform” rating to a “strong-buy” rating and set a $48.00 target price on the stock in a research report on Sunday, March 1st. Barrington Research reissued a “buy” rating and set a $50.00 price target on shares of Chegg in a research report on Tuesday, February 11th. Lake Street Capital lifted their price target on shares of Chegg from $35.00 to $39.00 and gave the stock a “hold” rating in a research note on Tuesday, February 11th. JPMorgan Chase & Co. reduced their price objective on shares of Chegg from $46.00 to $42.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 18th. Finally, Needham & Company LLC reissued a “buy” rating and set a $40.00 price objective (down from $53.00) on shares of Chegg in a report on Friday, March 20th. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Chegg currently has an average rating of “Buy” and a consensus target price of $43.92.

NYSE CHGG traded up $2.63 during trading hours on Thursday, reaching $36.66. The company’s stock had a trading volume of 2,431,100 shares, compared to its average volume of 1,950,896. The company has a current ratio of 11.31, a quick ratio of 11.31 and a debt-to-equity ratio of 1.80. The business has a 50-day simple moving average of $37.97 and a 200 day simple moving average of $36.66. Chegg Inc has a 52 week low of $25.89 and a 52 week high of $48.22. The stock has a market cap of $4.16 billion, a PE ratio of -366.56, a PEG ratio of 2.49 and a beta of 0.88.

Chegg (NYSE:CHGG) last announced its quarterly earnings results on Monday, February 10th. The technology company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.06. Chegg had a positive return on equity of 11.24% and a negative net margin of 2.34%. The business had revenue of $125.50 million for the quarter, compared to the consensus estimate of $123.05 million. During the same quarter last year, the business posted $0.25 EPS. The business’s revenue was up 31.1% on a year-over-year basis. As a group, equities analysts predict that Chegg Inc will post 0.46 EPS for the current year.

About Chegg

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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Institutional Ownership by Quarter for Chegg (NYSE:CHGG)

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