Chegg Inc (CHGG) is P.A.W. Capital Corp’s 7th Largest Position

P.A.W. Capital Corp lessened its stake in Chegg Inc (NYSE:CHGG) by 29.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 95,000 shares of the technology company’s stock after selling 40,000 shares during the quarter. Chegg accounts for about 3.6% of P.A.W. Capital Corp’s holdings, making the stock its 7th biggest position. P.A.W. Capital Corp owned approximately 0.08% of Chegg worth $3,621,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the business. Baillie Gifford & Co. increased its stake in shares of Chegg by 48.3% during the 4th quarter. Baillie Gifford & Co. now owns 8,230,708 shares of the technology company’s stock worth $233,917,000 after purchasing an additional 2,679,867 shares during the last quarter. Brown Advisory Inc. acquired a new position in Chegg in the 4th quarter valued at $47,869,000. Norges Bank acquired a new position in Chegg in the 4th quarter valued at $37,715,000. Vanguard Group Inc. grew its stake in Chegg by 12.8% in the 3rd quarter. Vanguard Group Inc. now owns 10,365,544 shares of the technology company’s stock valued at $294,693,000 after buying an additional 1,174,038 shares during the last quarter. Finally, Vanguard Group Inc grew its stake in Chegg by 12.8% in the 3rd quarter. Vanguard Group Inc now owns 10,365,544 shares of the technology company’s stock valued at $294,693,000 after buying an additional 1,174,038 shares during the last quarter.

A number of research analysts recently issued reports on CHGG shares. Zacks Investment Research upgraded shares of Chegg from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research note on Tuesday, January 1st. Citigroup lowered shares of Chegg from a “buy” rating to a “neutral” rating and set a $36.00 target price on the stock. in a research note on Friday, February 8th. Craig Hallum increased their price target on shares of Chegg from $34.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, February 12th. Lake Street Capital increased their price target on shares of Chegg to $33.00 and gave the company a “hold” rating in a report on Tuesday, February 12th. Finally, Barrington Research reissued an “outperform” rating and issued a $44.00 price target (up from $32.00) on shares of Chegg in a report on Tuesday, February 12th. Six investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. Chegg has an average rating of “Buy” and an average price target of $37.60.

In other news, insider Nathan J. Schultz sold 2,300 shares of the firm’s stock in a transaction dated Tuesday, February 5th. The shares were sold at an average price of $36.02, for a total transaction of $82,846.00. Following the completion of the transaction, the insider now directly owns 505,604 shares of the company’s stock, valued at approximately $18,211,856.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Esther Lem sold 50,000 shares of the firm’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $37.29, for a total transaction of $1,864,500.00. Following the transaction, the chief marketing officer now directly owns 408,325 shares of the company’s stock, valued at $15,226,439.25. The disclosure for this sale can be found here. Insiders have sold a total of 729,651 shares of company stock valued at $28,404,047 over the last ninety days. 10.80% of the stock is owned by insiders.

Shares of Chegg stock opened at $38.38 on Wednesday. The company has a quick ratio of 8.29, a current ratio of 8.29 and a debt-to-equity ratio of 0.69. Chegg Inc has a fifty-two week low of $20.40 and a fifty-two week high of $41.69. The firm has a market capitalization of $4.43 billion, a price-to-earnings ratio of 426.39, a P/E/G ratio of 7.50 and a beta of 1.30.

Chegg (NYSE:CHGG) last issued its quarterly earnings results on Monday, February 11th. The technology company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. Chegg had a negative net margin of 4.64% and a positive return on equity of 4.31%. The firm had revenue of $95.68 million during the quarter, compared to the consensus estimate of $91.74 million. On average, equities research analysts expect that Chegg Inc will post 0.17 earnings per share for the current fiscal year.

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Chegg Company Profile

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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