Standard Life Aberdeen plc Raises Holdings in Chegg Inc (NYSE:CHGG)

Standard Life Aberdeen plc increased its stake in shares of Chegg Inc (NYSE:CHGG) by 1.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 owned about 0.97% of Chegg worth $44,274,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of CHGG. Nisa Investment Advisors LLC increased its position in shares of Chegg by 39.2% in the fourth 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 in the last quarter. Symphony Asset Management LLC acquired a new stake in shares of Chegg in the fourth quarter valued at about $213,000. We Are One Seven LLC acquired a new stake in shares of Chegg in the fourth quarter valued at about $227,000. Banque Cantonale Vaudoise purchased a new stake in shares of Chegg during the fourth quarter worth about $238,000. Finally, Daiwa Securities Group Inc. increased its stake in shares of Chegg by 49.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 6,596 shares of the technology company’s stock worth $250,000 after purchasing an additional 2,189 shares in the last quarter.

CHGG traded up $2.63 during trading 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 market cap of $4.16 billion, a price-to-earnings ratio of -366.56, a PEG ratio of 2.49 and a beta of 0.88. The firm has a fifty day simple moving average of $37.97 and a two-hundred day simple moving average of $36.66. Chegg Inc has a 1 year low of $25.89 and a 1 year high of $48.22. The company has a quick ratio of 11.31, a current ratio of 11.31 and a debt-to-equity ratio of 1.80.

Chegg (NYSE:CHGG) last released its quarterly earnings data on Monday, February 10th. The technology company reported $0.35 earnings per share for the quarter, topping the Zacks’ 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 company had revenue of $125.50 million for the quarter, compared to analyst estimates of $123.05 million. During the same quarter in the previous year, the company posted $0.25 earnings per share. The firm’s revenue for the quarter was up 31.1% compared to the same quarter last year. As a group, equities analysts forecast that Chegg Inc will post 0.46 EPS for the current fiscal year.

CHGG has been the topic of a number of research reports. First Analysis raised shares of Chegg from an “outperform” rating to a “strong-buy” rating and set a $48.00 price target on the stock in a research note on Sunday, March 1st. Morgan Stanley cut their price objective on Chegg from $49.00 to $43.00 and set an “overweight” rating for the company in a research note on Wednesday. BMO Capital Markets increased their target price on Chegg from $37.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Barrington Research reissued a “buy” rating and set a $50.00 target price on shares of Chegg in a report on Tuesday, February 11th. Finally, Needham & Company LLC restated a “buy” rating and issued a $40.00 target price (down previously from $53.00) on shares of Chegg in a research report on Friday, March 20th. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $43.92.

In related news, insider Michael A. Osier sold 6,115 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $40.26, for a total value of $246,189.90. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Dave Jr. Borders sold 6,657 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $38.33, for a total value of $255,162.81. Following the completion of the transaction, the general counsel now owns 292,332 shares in the company, valued at $11,205,085.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 544,248 shares of company stock worth $22,436,654. Corporate insiders own 5.80% of the company’s stock.

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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