Swiss National Bank Sells 25,100 Shares of Chegg, Inc. (NYSE:CHGG)

Swiss National Bank trimmed its position in shares of Chegg, Inc. (NYSE:CHGGGet Rating) by 7.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 317,600 shares of the technology company’s stock after selling 25,100 shares during the quarter. Swiss National Bank’s holdings in Chegg were worth $5,965,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of CHGG. Granahan Investment Management LLC boosted its position in Chegg by 60.5% during the 1st quarter. Granahan Investment Management LLC now owns 2,598,021 shares of the technology company’s stock valued at $94,256,000 after acquiring an additional 979,467 shares in the last quarter. National Bank of Canada FI boosted its position in Chegg by 133,530.3% during the 2nd quarter. National Bank of Canada FI now owns 600,000 shares of the technology company’s stock valued at $11,268,000 after acquiring an additional 599,551 shares in the last quarter. Skandinaviska Enskilda Banken AB publ bought a new stake in Chegg during the 1st quarter valued at approximately $18,263,000. Lord Abbett & CO. LLC bought a new stake in Chegg during the 1st quarter valued at approximately $12,124,000. Finally, Sands Capital Management LLC boosted its position in Chegg by 6.9% during 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 acquiring an additional 277,333 shares in the last quarter. 95.61% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Paul Leblanc sold 12,890 shares of the business’s 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 completion of the transaction, the director now directly owns 11,861 shares in the company, valued at approximately $332,108. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.25% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have weighed in on CHGG shares. Morgan Stanley lifted their price objective on Chegg from $22.00 to $24.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 2nd. StockNews.com assumed coverage on Chegg in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. TheStreet raised Chegg from a “d+” rating to a “c-” rating in a research report on Monday, August 22nd. Needham & Company LLC raised Chegg from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research report on Monday, September 26th. Finally, BMO Capital Markets boosted their price target on Chegg from $23.00 to $26.00 and gave the stock a “market perform” rating in a research report on Thursday, November 3rd. Eleven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $29.00.

Chegg Price Performance

Shares of NYSE CHGG opened at $28.56 on Thursday. Chegg, Inc. has a twelve month low of $15.66 and a twelve month high of $37.64. The firm has a market cap of $3.58 billion, a P/E ratio of 19.30, a PEG ratio of 4.59 and a beta of 0.98. The company has a 50 day moving average of $23.30 and a 200 day moving average of $21.06. The company has a quick ratio of 7.19, a current ratio of 7.19 and a debt-to-equity ratio of 1.13.

Chegg Profile

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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.

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Institutional Ownership by Quarter for Chegg (NYSE:CHGG)

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