Chegg, Inc. (CHGG) Shares Sold by Trexquant Investment LP

Trexquant Investment LP cut its stake in shares of Chegg, Inc. (NYSE:CHGG) by 28.8% during the first quarter, Holdings Channel reports. The firm owned 19,851 shares of the technology company’s stock after selling 8,043 shares during the period. Trexquant Investment LP’s holdings in Chegg were worth $168,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of CHGG. US Bancorp DE increased its stake in shares of Chegg by 4.3% in the first quarter. US Bancorp DE now owns 11,868 shares of the technology company’s stock valued at $100,000 after buying an additional 488 shares during the period. Parkwood LLC increased its stake in shares of Chegg by 26.0% in the first quarter. Parkwood LLC now owns 13,077 shares of the technology company’s stock valued at $110,000 after buying an additional 2,701 shares during the period. NBW Capital LLC increased its stake in shares of Chegg by 1.1% in the first quarter. NBW Capital LLC now owns 275,906 shares of the technology company’s stock valued at $2,329,000 after buying an additional 2,963 shares during the period. Boothbay Fund Management LLC increased its stake in shares of Chegg by 16.3% in the fourth quarter. Boothbay Fund Management LLC now owns 27,529 shares of the technology company’s stock valued at $203,000 after buying an additional 3,859 shares during the period. Finally, Dynamic Technology Lab Private Ltd increased its stake in shares of Chegg by 83.5% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 23,747 shares of the technology company’s stock valued at $175,000 after buying an additional 10,804 shares during the period. Institutional investors and hedge funds own 79.29% of the company’s stock.

Institutional Ownership by Quarter for Chegg (NYSE:CHGG)

Chegg, Inc. (NYSE CHGG) opened at 11.82 on Thursday. The company’s market cap is $1.12 billion. Chegg, Inc. has a 12-month low of $4.57 and a 12-month high of $13.00. The stock’s 50 day moving average is $11.60 and its 200-day moving average is $8.80.

Chegg (NYSE:CHGG) last announced its quarterly earnings data on Thursday, May 4th. The technology company reported $0.06 EPS for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.03. The business had revenue of $62.60 million for the quarter, compared to analyst estimates of $58.46 million. Chegg had a negative net margin of 13.18% and a negative return on equity of 9.88%. The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. Analysts predict that Chegg, Inc. will post $0.22 earnings per share for the current fiscal year.

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Several equities research analysts recently commented on CHGG shares. Jefferies Group LLC upped their price target on shares of Chegg from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, May 2nd. Craig Hallum upgraded shares of Chegg from a “hold” rating to a “buy” rating in a research report on Tuesday, April 4th. Zacks Investment Research upgraded shares of Chegg from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research report on Friday, May 5th. First Analysis upped their price target on shares of Chegg from $12.00 to $14.00 and gave the company an “overweight” rating in a research report on Monday, May 22nd. Finally, ValuEngine upgraded shares of Chegg from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $11.08.

In other Chegg news, insider Andrew J. Brown sold 100,000 shares of the company’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $13.00, for a total transaction of $1,300,000.00. Following the sale, the insider now directly owns 678,760 shares of the company’s stock, valued at $8,823,880. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nathan J. Schultz sold 15,276 shares of the company’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $12.00, for a total transaction of $183,312.00. The disclosure for this sale can be found here. In the last three months, insiders sold 352,763 shares of company stock worth $4,100,540. 20.40% of the stock is currently owned by insiders.

Chegg Company Profile

Chegg, Inc is a student-first connected learning platform. The Company helps students study for college admission exams, find the colleges, get grades and test scores while in school, and find internships that allow them to gain skills to help them enter the workforce after college. The Company matches domestic and international students with colleges, universities and other academic institutions (collectively referred to as colleges) in the United States.

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:CHGG).

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