P.A.W. Capital Corp Lowers Stake in Chegg Inc (CHGG)

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P.A.W. Capital Corp decreased its holdings in shares of Chegg Inc (NYSE:CHGG) by 29.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 95,000 shares of the technology company’s stock after selling 40,000 shares during the quarter. Chegg comprises approximately 3.6% of P.A.W. Capital Corp’s investment portfolio, making the stock its 7th biggest holding. P.A.W. Capital Corp’s holdings in Chegg were worth $3,621,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Parallel Advisors LLC boosted its stake in Chegg by 22.8% during the 4th quarter. Parallel Advisors LLC now owns 1,558 shares of the technology company’s stock worth $44,000 after acquiring an additional 289 shares during the last quarter. PRW Wealth Management LLC bought a new position in Chegg during the 4th quarter worth approximately $56,000. We Are One Seven LLC bought a new position in Chegg during the 4th quarter worth approximately $79,000. Bessemer Group Inc. bought a new position in Chegg during the 4th quarter worth approximately $116,000. Finally, PNC Financial Services Group Inc. boosted its stake in Chegg by 213.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,678 shares of the technology company’s stock worth $162,000 after acquiring an additional 3,865 shares during the last quarter.

Shares of CHGG opened at $38.38 on Wednesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 8.29 and a current ratio of 8.29. The company has a market capitalization of $4.43 billion, a price-to-earnings ratio of 426.39, a P/E/G ratio of 7.50 and a beta of 1.30. Chegg Inc has a twelve month low of $20.40 and a twelve month high of $41.69.

Chegg (NYSE:CHGG) last announced its quarterly earnings data on Monday, February 11th. The technology company reported $0.13 EPS for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.03. The business had revenue of $95.68 million for the quarter, compared to analyst estimates of $91.74 million. Chegg had a negative net margin of 4.64% and a positive return on equity of 4.31%. Analysts anticipate that Chegg Inc will post 0.17 earnings per share for the current year.

Several research analysts recently weighed in on CHGG shares. Zacks Investment Research raised shares of Chegg from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research note on Tuesday, January 1st. Citigroup lowered shares of Chegg from a “buy” rating to a “neutral” rating and set a $36.00 price target on the stock. in a research note on Friday, February 8th. Craig Hallum lifted their price target on shares of Chegg from $34.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, February 12th. Lake Street Capital lifted their price target on shares of Chegg to $33.00 and gave the company a “hold” rating in a research note on Tuesday, February 12th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $44.00 price target (up previously from $32.00) on shares of Chegg in a research note on Tuesday, February 12th. Six analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. Chegg presently has a consensus rating of “Buy” and a consensus price target of $37.60.

In other news, insider Nathan J. Schultz sold 2,300 shares of the business’s stock in a transaction on Tuesday, February 5th. The shares were sold at an average price of $36.02, for a total value of $82,846.00. Following the sale, the insider now owns 505,604 shares of the company’s stock, valued at $18,211,856.08. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CMO Esther Lem sold 50,000 shares of the business’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $37.29, for a total transaction of $1,864,500.00. Following the completion of the sale, the chief marketing officer now directly owns 408,325 shares in the company, valued at approximately $15,226,439.25. The disclosure for this sale can be found here. In the last three months, insiders sold 729,651 shares of company stock worth $28,404,047. 10.80% of the stock is currently owned by insiders.

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About Chegg

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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