River & Mercantile Asset Management LLP Sells 5,090 Shares of Chegg, Inc. (NYSE:CHGG)

River & Mercantile Asset Management LLP decreased its position in Chegg, Inc. (NYSE:CHGG – Get Rating) by 8.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 52,302 shares of the technology company’s stock after selling 5,090 shares during the quarter. River & Mercantile Asset Management LLP’s holdings in Chegg were worth $1,103,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wipfli Financial Advisors LLC acquired a new position in Chegg during the 3rd quarter worth about $36,000. Captrust Financial Advisors lifted its position in Chegg by 79.6% during the 1st quarter. Captrust Financial Advisors now owns 2,012 shares of the technology company’s stock valued at $73,000 after purchasing an additional 892 shares during the period. Toroso Investments LLC acquired a new position in Chegg during the 1st quarter valued at about $230,000. Rockefeller Capital Management L.P. lifted its position in Chegg by 149.6% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 6,685 shares of the technology company’s stock valued at $140,000 after purchasing an additional 4,007 shares during the period. Finally, MetLife Investment Management LLC acquired a new position in Chegg during the 1st quarter valued at about $265,000. Institutional investors and hedge funds own 92.88% of the company’s stock.

Insider Buying and Selling at Chegg

In other Chegg news, CMO Esther Lem sold 5,700 shares of the company’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $16.86, for a total value of $96,102.00. Following the completion of the transaction, the chief marketing officer now owns 171,300 shares in the company, valued at approximately $2,888,118. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Nathan J. Schultz sold 4,041 shares of the company’s stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $15.64, for a total transaction of $63,201.24. Following the transaction, the chief operating officer now owns 224,637 shares of the company’s stock, valued at approximately $3,513,322.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Esther Lem sold 5,700 shares of the company’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $16.86, for a total value of $96,102.00. Following the transaction, the chief marketing officer now directly owns 171,300 shares in the company, valued at approximately $2,888,118. The disclosure for this sale can be found here. Insiders sold 34,741 shares of company stock worth $793,053 in the last quarter. 2.25% of the stock is currently owned by company insiders.

Chegg Price Performance

Shares of CHGG opened at $16.13 on Thursday. Chegg, Inc. has a 52-week low of $15.30 and a 52-week high of $37.64. The company has a debt-to-equity ratio of 1.06, a quick ratio of 8.24 and a current ratio of 8.24. The business’s 50 day moving average price is $19.16 and its two-hundred day moving average price is $22.49. The firm has a market cap of $2.04 billion, a PE ratio of 12.04, a price-to-earnings-growth ratio of 4.64 and a beta of 1.13.

Chegg (NYSE:CHGG – Get Rating) last released its quarterly earnings data on Monday, February 6th. The technology company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.38 by $0.02. Chegg had a return on equity of 6.41% and a net margin of 34.77%. The firm had revenue of $205.19 million during the quarter, compared to the consensus estimate of $202.10 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. The company’s quarterly revenue was down 1.1% on a year-over-year basis. On average, equities analysts anticipate that Chegg, Inc. will post 0.28 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Barrington Research cut their target price on shares of Chegg from $30.00 to $22.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 7th. BMO Capital Markets cut their target price on shares of Chegg from $30.00 to $20.00 in a research report on Tuesday, February 7th. KeyCorp raised Chegg from a “sector weight” rating to an “overweight” rating and set a $29.00 price target for the company in a research note on Thursday, January 19th. StockNews.com raised Chegg from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. lowered their target price on Chegg from $23.00 to $19.00 and set a “neutral” rating for the company in a research note on Tuesday, February 7th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $22.00.

Chegg Profile

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Chegg, Inc operates a learning platform for students. It intends to empower students to take control of their education and help the students study, college admissions exams, accomplish their goals, get grades, and test scores. The firm offers required and non-required scholastic materials including textbooks in any format, access to online homework help and textbook solutions, course organization and scheduling, college and university matching tools and scholarship connections.