3,905 Shares in Chegg, Inc. (NYSE:CHGG) Purchased by Virtu Financial LLC


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Virtu Financial LLC acquired a new position in Chegg, Inc. (NYSE:CHGG) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 3,905 shares of the technology company’s stock, valued at approximately $353,000.

Other hedge funds have also recently made changes to their positions in the company. AGF Investments LLC boosted its holdings in Chegg by 59.6% during the fourth quarter. AGF Investments LLC now owns 308 shares of the technology company’s stock worth $28,000 after buying an additional 115 shares during the last quarter. Ellevest Inc. lifted its holdings in shares of Chegg by 269.7% during the 4th quarter. Ellevest Inc. now owns 329 shares of the technology company’s stock valued at $30,000 after purchasing an additional 240 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Chegg by 75.1% during the 4th quarter. Signaturefd LLC now owns 443 shares of the technology company’s stock valued at $40,000 after purchasing an additional 190 shares in the last quarter. Capstone Triton Financial Group LLC bought a new position in shares of Chegg during the 4th quarter valued at about $48,000. Finally, HM Payson & Co. bought a new position in shares of Chegg during the 3rd quarter valued at about $60,000. Hedge funds and other institutional investors own 98.48% of the company’s stock.

Shares of NYSE:CHGG opened at $88.39 on Thursday. The business’s 50 day simple moving average is $92.32 and its two-hundred day simple moving average is $86.59. The firm has a market cap of $11.44 billion, a P/E ratio of -441.95, a PEG ratio of 3.14 and a beta of 0.99. The company has a debt-to-equity ratio of 2.38, a quick ratio of 9.09 and a current ratio of 9.09. Chegg, Inc. has a 52-week low of $34.93 and a 52-week high of $115.21.

Chegg (NYSE:CHGG) last posted its earnings results on Sunday, February 7th. The technology company reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.06. Chegg had a positive return on equity of 13.35% and a negative net margin of 4.26%. The company had revenue of $205.70 million for the quarter, compared to analyst estimates of $153.90 million. During the same quarter last year, the company earned $0.35 earnings per share. The company’s revenue for the quarter was up 63.3% on a year-over-year basis. On average, equities analysts forecast that Chegg, Inc. will post 0.69 earnings per share for the current fiscal year.

In other Chegg news, CEO Daniel Rosensweig sold 300,000 shares of the firm’s stock in a transaction on Monday, February 22nd. The stock was sold at an average price of $99.55, for a total value of $29,865,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,607,090 shares of the company’s stock, valued at $159,985,809.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Paul Fillmore sold 51,505 shares of the firm’s stock in a transaction on Wednesday, March 3rd. The stock was sold at an average price of $90.15, for a total value of $4,643,175.75. Following the completion of the sale, the insider now directly owns 160,159 shares of the company’s stock, valued at $14,438,333.85. The disclosure for this sale can be found here. Insiders sold 385,954 shares of company stock worth $37,585,849 in the last 90 days. Corporate insiders own 3.10% of the company’s stock.

Several research firms have recently weighed in on CHGG. Morgan Stanley lifted their price objective on Chegg from $105.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, February 9th. Jefferies Financial Group lifted their target price on Chegg from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, February 9th. JPMorgan Chase & Co. lifted their target price on Chegg from $79.00 to $82.00 and gave the company a “neutral” rating in a research report on Wednesday, December 16th. They noted that the move was a valuation call. Zacks Investment Research lowered Chegg from a “hold” rating to a “sell” rating in a research report on Friday, February 12th. Finally, Bank of America lifted their target price on Chegg from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, January 14th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $104.78.

About Chegg

Chegg, Inc engages in the operations of 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.

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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)

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