Chegg, Inc. (NYSE:CHGG) Holdings Raised by Shell Asset Management Co.

Shell Asset Management Co. increased its position in shares of Chegg, Inc. (NYSE:CHGGGet Rating) by 45.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 11,662 shares of the technology company’s stock after purchasing an additional 3,665 shares during the period. Shell Asset Management Co.’s holdings in Chegg were worth $219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the business. Sands Capital Management LLC boosted its holdings in shares of Chegg by 6.9% in the 1st quarter. Sands Capital Management LLC now owns 4,301,885 shares of the technology company’s stock valued at $156,072,000 after buying an additional 277,333 shares during the period. Clearbridge Investments LLC boosted its stake in Chegg by 0.5% in the first 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 period. Granahan Investment Management LLC grew its holdings in shares of Chegg by 60.5% during the first quarter. Granahan Investment Management LLC now owns 2,598,021 shares of the technology company’s stock valued at $94,256,000 after purchasing an additional 979,467 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Chegg by 19.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 988,720 shares of the technology company’s stock worth $35,871,000 after purchasing an additional 161,720 shares during the period. Finally, Stony Point Capital LLC lifted its holdings in shares of Chegg by 20.6% in the 1st quarter. Stony Point Capital LLC now owns 727,976 shares of the technology company’s stock worth $26,411,000 after purchasing an additional 124,565 shares during the last quarter. Institutional investors and hedge funds own 95.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CHGG shares. Barrington Research increased their target price on Chegg from $25.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 2nd. Northland Securities lifted their price objective on shares of Chegg from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Wednesday, November 2nd. BMO Capital Markets upped their target price on shares of Chegg from $23.00 to $26.00 and gave the stock a “market perform” rating in a research report on Thursday, November 3rd. Morgan Stanley raised their price target on shares of Chegg from $22.00 to $24.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 2nd. Finally, StockNews.com assumed coverage on Chegg in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Eleven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Chegg currently has an average rating of “Hold” and a consensus price target of $29.00.

Insider Activity

In other news, Director Paul Leblanc sold 12,890 shares of Chegg stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $28.00, for a total value of $360,920.00. Following the transaction, the director now directly owns 11,861 shares of the company’s stock, valued at $332,108. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.25% of the company’s stock.

Chegg Trading Down 1.6 %

Shares of NYSE:CHGG opened at $28.29 on Friday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 7.19 and a current ratio of 7.19. The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of 19.11, a PEG ratio of 4.58 and a beta of 0.98. Chegg, Inc. has a 1-year low of $15.66 and a 1-year high of $37.64. The company has a 50 day moving average price of $22.93 and a 200 day moving average price of $20.85.

About Chegg

(Get Rating)

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 and help them better understand their academic course materials. The company offers Chegg Services, which include subscription services; and required materials that comprise its print textbooks and eTextbooks.

Featured Articles

Want to see what other hedge funds are holding CHGG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chegg, Inc. (NYSE:CHGGGet Rating).

Institutional Ownership by Quarter for Chegg (NYSE:CHGG)

Receive News & Ratings for Chegg Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chegg and related companies with MarketBeat.com's FREE daily email newsletter.