Dimensional Fund Advisors LP Purchases 195,221 Shares of Chegg Inc (NYSE:CHGG)

Share on StockTwits

Dimensional Fund Advisors LP increased its position in shares of Chegg Inc (NYSE:CHGG) by 229.3% in the 4th quarter, HoldingsChannel reports. The fund owned 280,365 shares of the technology company’s stock after buying an additional 195,221 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Chegg were worth $7,968,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CHGG. Parallel Advisors LLC raised its holdings in shares of Chegg by 22.8% during the fourth quarter. Parallel Advisors LLC now owns 1,558 shares of the technology company’s stock worth $44,000 after acquiring an additional 289 shares in the last quarter. PRW Wealth Management LLC acquired a new position in Chegg during the fourth quarter worth $56,000. Bessemer Group Inc. acquired a new position in Chegg during the fourth quarter worth $116,000. Bank of Montreal Can increased its position in Chegg by 21.1% during the fourth quarter. Bank of Montreal Can now owns 7,169 shares of the technology company’s stock worth $203,000 after buying an additional 1,249 shares during the last quarter. Finally, LPL Financial LLC acquired a new position in Chegg during the fourth quarter worth $205,000.

CHGG has been the topic of several analyst reports. Zacks Investment Research raised shares of Chegg from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research report on Friday, April 5th. Craig Hallum reissued a “buy” rating and set a $50.00 target price (up from $45.00) on shares of Chegg in a research report on Tuesday, April 30th. Barrington Research reissued a “buy” rating on shares of Chegg in a research report on Wednesday, April 17th. Needham & Company LLC initiated coverage on shares of Chegg in a research report on Wednesday, June 5th. They set a “buy” rating and a $44.00 target price on the stock. Finally, Berenberg Bank initiated coverage on shares of Chegg in a research report on Wednesday, March 6th. They set a “buy” rating and a $48.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $39.82.

In other news, insider Andrew J. Brown sold 40,516 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $41.12, for a total value of $1,666,017.92. Following the sale, the insider now directly owns 84,204 shares of the company’s stock, valued at $3,462,468.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Daniel Rosensweig sold 150,000 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $41.06, for a total value of $6,159,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,322,754 shares in the company, valued at $95,372,279.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,063,514 shares of company stock worth $40,405,671. 5.80% of the stock is currently owned by company insiders.

Chegg stock opened at $38.84 on Friday. The company has a debt-to-equity ratio of 1.84, a quick ratio of 13.96 and a current ratio of 13.96. The firm has a market cap of $4.62 billion, a price-to-earnings ratio of 431.56, a price-to-earnings-growth ratio of 6.76 and a beta of 1.12. Chegg Inc has a one year low of $22.67 and a one year high of $41.69.

Chegg (NYSE:CHGG) last posted its earnings results on Monday, April 29th. The technology company reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.09). The business had revenue of $97.40 million for the quarter, compared to analyst estimates of $94.69 million. Chegg had a positive return on equity of 4.73% and a negative net margin of 4.86%. The company’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.10 earnings per share. On average, sell-side analysts predict that Chegg Inc will post 0.19 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: This report was originally reported by Ticker Report and is the sole property of of Ticker Report. If you are accessing this report on another site, it was stolen and reposted in violation of US and international trademark & copyright law. The legal version of this report can be accessed at https://www.tickerreport.com/banking-finance/4370966/dimensional-fund-advisors-lp-purchases-195221-shares-of-chegg-inc-nysechgg.html.

Chegg Company Profile

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.

Further Reading: What is the balance sheet?

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).

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.



Latest News

Alliance Data Systems Co.  Receives Average Rating of “Hold” from Brokerages
Alliance Data Systems Co. Receives Average Rating of “Hold” from Brokerages
Host Hotels and Resorts Inc  Receives Consensus Recommendation of “Buy” from Analysts
Host Hotels and Resorts Inc Receives Consensus Recommendation of “Buy” from Analysts
Weir Group PLC  Given Consensus Rating of “Buy” by Analysts
Weir Group PLC Given Consensus Rating of “Buy” by Analysts
ViaSat, Inc.  Receives $96.99 Average Target Price from Analysts
ViaSat, Inc. Receives $96.99 Average Target Price from Analysts
Carrefour SA  Given Consensus Rating of “Hold” by Brokerages
Carrefour SA Given Consensus Rating of “Hold” by Brokerages
RTL Group S.A.  Receives €53.23 Consensus Target Price from Analysts
RTL Group S.A. Receives €53.23 Consensus Target Price from Analysts


© 2006-2019 Ticker Report