Cetera Investment Advisers Purchases New Position in Chegg, Inc. (NYSE:CHGG)


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Cetera Investment Advisers acquired a new stake in shares of Chegg, Inc. (NYSE:CHGG) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,028 shares of the technology company’s stock, valued at approximately $545,000.

A number of other large investors have also recently modified their holdings of CHGG. FMR LLC raised its position in shares of Chegg by 18,377.4% during the first quarter. FMR LLC now owns 599,961 shares of the technology company’s stock worth $22,871,000 after purchasing an additional 596,714 shares during the period. Polar Capital LLP raised its holdings in shares of Chegg by 88.9% during the third quarter. Polar Capital LLP now owns 1,189,909 shares of the technology company’s stock worth $85,007,000 after acquiring an additional 560,116 shares during the period. Berkshire Capital Holdings Inc. lifted its position in Chegg by 4,878,100.0% in the 4th quarter. Berkshire Capital Holdings Inc. now owns 487,820 shares of the technology company’s stock valued at $44,065,000 after acquiring an additional 487,810 shares in the last quarter. Artisan Partners Limited Partnership lifted its position in Chegg by 6.7% in the 4th quarter. Artisan Partners Limited Partnership now owns 7,472,262 shares of the technology company’s stock valued at $674,969,000 after acquiring an additional 466,328 shares in the last quarter. Finally, Sands Capital Management LLC increased its holdings in Chegg by 37.3% during the 4th quarter. Sands Capital Management LLC now owns 1,589,373 shares of the technology company’s stock worth $143,568,000 after purchasing an additional 431,515 shares in the last quarter. 98.48% of the stock is owned by hedge funds and other institutional investors.

In other Chegg news, insider John Paul Fillmore sold 51,505 shares of Chegg stock in a transaction dated Wednesday, March 3rd. The stock was sold at an average price of $90.15, for a total transaction of $4,643,175.75. Following the transaction, the insider now directly owns 160,159 shares of the company’s stock, valued at approximately $14,438,333.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Esther Lem sold 34,449 shares of the company’s stock in a transaction dated Monday, March 15th. The shares were sold at an average price of $89.34, for a total value of $3,077,673.66. Following the completion of the sale, the chief marketing officer now owns 157,835 shares in the company, valued at approximately $14,100,978.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 385,954 shares of company stock worth $37,585,849. 3.10% of the stock is owned by corporate insiders.

CHGG has been the subject of a number of research reports. Barrington Research reiterated an “outperform” rating and set a $120.00 price objective (up from $110.00) on shares of Chegg in a report on Tuesday, February 9th. They noted that the move was a valuation call. Bank of America lifted their price objective on shares of Chegg from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, January 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $120.00 target price on shares of Chegg in a research report on Monday, March 22nd. Lake Street Capital increased their price objective on shares of Chegg from $85.00 to $98.00 and gave the stock a “hold” rating in a research note on Tuesday, February 9th. Finally, Craig Hallum lifted their target price on Chegg from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 9th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $104.78.

Shares of CHGG opened at $88.39 on Thursday. The company has a quick ratio of 9.09, a current ratio of 9.09 and a debt-to-equity ratio of 2.38. The stock has a market cap of $11.44 billion, a PE ratio of -441.95, a PEG ratio of 3.14 and a beta of 0.99. Chegg, Inc. has a 12-month low of $34.93 and a 12-month high of $115.21. The business has a 50-day simple moving average of $92.32 and a two-hundred day simple moving average of $86.59.

Chegg (NYSE:CHGG) last released its quarterly earnings results on Sunday, February 7th. The technology company reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.06. Chegg had a positive return on equity of 13.35% and a negative net margin of 4.26%. The company had revenue of $205.70 million for the quarter, compared to analysts’ expectations of $153.90 million. During the same period in the previous year, the business posted $0.35 earnings per share. The business’s quarterly revenue was up 63.3% compared to the same quarter last year. On average, equities research analysts expect that Chegg, Inc. will post 0.69 EPS for the current year.

About Chegg

Chegg, Inc engages in the operations of 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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Institutional Ownership by Quarter for Chegg (NYSE:CHGG)

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