Shell Asset Management Co. Has $102,000 Stock Holdings in Chegg, Inc. (NYSE:CHGG)

Shell Asset Management Co. increased its stake in Chegg, Inc. (NYSE:CHGGFree Report) by 48.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,423 shares of the technology company’s stock after purchasing an additional 3,748 shares during the period. Shell Asset Management Co.’s holdings in Chegg were worth $102,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Chegg by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 11,766,644 shares of the technology company’s stock valued at $247,923,000 after acquiring an additional 179,401 shares during the last quarter. Sylebra Capital Ltd raised its position in shares of Chegg by 144.8% during the 2nd quarter. Sylebra Capital Ltd now owns 8,967,899 shares of the technology company’s stock valued at $79,635,000 after acquiring an additional 5,305,250 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Chegg by 81.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,940,001 shares of the technology company’s stock valued at $47,922,000 after acquiring an additional 1,320,462 shares during the last quarter. Clearbridge Investments LLC raised its position in shares of Chegg by 0.5% during the 1st quarter. Clearbridge Investments LLC now owns 2,628,689 shares of the technology company’s stock valued at $95,369,000 after acquiring an additional 13,278 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Chegg by 5.4% during the 1st quarter. Geode Capital Management LLC now owns 2,342,228 shares of the technology company’s stock valued at $38,178,000 after acquiring an additional 120,429 shares during the last quarter. Institutional investors own 97.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. StockNews.com upgraded shares of Chegg from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. The Goldman Sachs Group lowered their price objective on shares of Chegg from $8.00 to $7.00 and set a “sell” rating for the company in a research report on Tuesday, February 6th. JPMorgan Chase & Co. lowered their price objective on shares of Chegg from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Tuesday, February 6th. Morgan Stanley cut shares of Chegg from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $10.00 to $9.00 in a research report on Monday, November 20th. Finally, Piper Sandler cut shares of Chegg from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $9.00 to $8.50 in a research report on Tuesday, February 6th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $10.22.

Check Out Our Latest Report on Chegg

Chegg Price Performance

Shares of NYSE CHGG opened at $8.83 on Tuesday. The firm has a market cap of $1.02 billion, a PE ratio of -55.19, a PEG ratio of 1.80 and a beta of 1.33. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 0.58. Chegg, Inc. has a 1-year low of $7.32 and a 1-year high of $18.77. The company has a fifty day moving average price of $10.45 and a 200 day moving average price of $9.79.

Chegg (NYSE:CHGGGet Free Report) last announced its earnings results on Monday, February 5th. The technology company reported $0.36 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.36. The firm had revenue of $187.99 million during the quarter, compared to analyst estimates of $185.94 million. Chegg had a net margin of 2.54% and a return on equity of 1.24%. The company’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.16 EPS. Research analysts predict that Chegg, Inc. will post 0.24 earnings per share for the current fiscal year.

Insider Transactions at Chegg

In other news, CFO Andrew J. Brown sold 16,921 shares of the firm’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $10.02, for a total value of $169,548.42. Following the completion of the transaction, the chief financial officer now owns 91,922 shares in the company, valued at approximately $921,058.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 18,901 shares of company stock worth $189,984 in the last three months. Insiders own 2.60% of the company’s stock.

Chegg Profile

(Free Report)

Chegg, Inc operates direct-to-student learning platform that supports students starting with their academic journey and extending into their careers with products and services to support learner with their academic course materials. The company offers Chegg Services, which include subscription services; and skills and other, including skills, advertising services, print textbooks, and eTextbooks.

See Also

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Institutional Ownership by Quarter for Chegg (NYSE:CHGG)

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