Chegg Inc (NYSE:CHGG) Holdings Reduced by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC trimmed its holdings in Chegg Inc (NYSE:CHGG) by 3.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 28,917 shares of the technology company’s stock after selling 897 shares during the period. Segall Bryant & Hamill LLC’s holdings in Chegg were worth $822,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Parallel Advisors LLC raised its stake in shares of Chegg by 22.8% in the fourth quarter. Parallel Advisors LLC now owns 1,558 shares of the technology company’s stock valued at $44,000 after acquiring an additional 289 shares in the last quarter. PRW Wealth Management LLC purchased a new position in Chegg in the fourth quarter valued at $56,000. We Are One Seven LLC purchased a new position in Chegg in the fourth quarter valued at $79,000. Bessemer Group Inc. purchased a new position in Chegg in the fourth quarter valued at $116,000. Finally, PNC Financial Services Group Inc. increased its holdings in Chegg by 213.2% in the third quarter. PNC Financial Services Group Inc. now owns 5,678 shares of the technology company’s stock valued at $162,000 after buying an additional 3,865 shares during the last quarter.

Shares of NYSE CHGG traded up $0.16 during midday trading on Friday, reaching $37.80. 945,418 shares of the company were exchanged, compared to its average volume of 2,731,764. 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 1 year low of $20.40 and a 1 year high of $41.69. The firm has a market cap of $4.38 billion, a P/E ratio of 420.00, a P/E/G ratio of 7.41 and a beta of 1.30.

Chegg (NYSE:CHGG) last released its quarterly earnings results on Monday, February 11th. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.03. Chegg had a positive return on equity of 4.31% and a negative net margin of 4.64%. The firm had revenue of $95.68 million for the quarter, compared to analyst estimates of $91.74 million. As a group, analysts anticipate that Chegg Inc will post 0.17 earnings per share for the current year.

Several equities analysts recently commented on CHGG shares. Craig Hallum increased their target price on Chegg from $34.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, February 12th. Zacks Investment Research raised Chegg from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a report on Tuesday, January 1st. Berenberg Bank started coverage on Chegg in a report on Wednesday, March 6th. They issued a “buy” rating and a $48.00 target price on the stock. Barrington Research reissued a “buy” rating on shares of Chegg in a report on Wednesday. Finally, Lake Street Capital increased their target price on Chegg to $33.00 and gave the company a “hold” rating 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 assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $37.60.

In related news, insider Andrew J. Brown sold 40,516 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $41.12, for a total value of $1,666,017.92. Following the completion of the sale, the insider now owns 84,204 shares in the company, valued at $3,462,468.48. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 sale, the insider now owns 505,604 shares of the company’s stock, valued at approximately $18,211,856.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 798,604 shares of company stock valued at $31,024,261. 10.80% of the stock is owned by insiders.

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Chegg 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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