Unterberg Capital LLC lowered its position in Chegg, Inc. (NYSE:CHGG) by 35.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 375,000 shares of the technology company’s stock after selling 203,566 shares during the period. Chegg comprises about 5.9% of Unterberg Capital LLC’s holdings, making the stock its 6th largest position. Unterberg Capital LLC owned about 0.39% of Chegg worth $4,609,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. US Bancorp DE raised its position in Chegg by 4.3% in the first quarter. US Bancorp DE now owns 11,868 shares of the technology company’s stock worth $100,000 after buying an additional 488 shares during the last quarter. Parkwood LLC raised its position in Chegg by 26.0% in the first quarter. Parkwood LLC now owns 13,077 shares of the technology company’s stock worth $110,000 after buying an additional 2,701 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in Chegg by 1,829.9% in the second quarter. BNP Paribas Arbitrage SA now owns 9,051 shares of the technology company’s stock worth $111,000 after buying an additional 8,582 shares during the last quarter. Principal Financial Group Inc. raised its position in Chegg by 7.2% in the first quarter. Principal Financial Group Inc. now owns 13,743 shares of the technology company’s stock worth $116,000 after buying an additional 926 shares during the last quarter. Finally, Bank of America Corp DE raised its position in Chegg by 29.0% in the first quarter. Bank of America Corp DE now owns 14,267 shares of the technology company’s stock worth $120,000 after buying an additional 3,205 shares during the last quarter. 84.80% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Chegg, Inc. (CHGG) traded down 0.98% during midday trading on Tuesday, reaching $14.10. The company’s stock had a trading volume of 155,106 shares. Chegg, Inc. has a 12 month low of $6.51 and a 12 month high of $15.95. The company’s market cap is $1.35 billion. The stock has a 50-day moving average of $14.27 and a 200 day moving average of $10.99.

Chegg (NYSE:CHGG) last posted its quarterly earnings data on Tuesday, July 25th. The technology company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by $0.08. Chegg had a negative return on equity of 8.10% and a negative net margin of 11.83%. The business had revenue of $56.30 million during the quarter, compared to the consensus estimate of $53.33 million. During the same period last year, the business posted $0.05 earnings per share. The business’s revenue was up 6.2% on a year-over-year basis. On average, analysts predict that Chegg, Inc. will post $0.24 earnings per share for the current fiscal year.

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A number of equities analysts recently weighed in on the company. Jefferies Group LLC reiterated a “buy” rating and issued a $13.00 price target on shares of Chegg in a research report on Friday, June 23rd. Lake Street Capital reiterated a “buy” rating and issued a $12.00 price target (up previously from $9.00) on shares of Chegg in a research report on Tuesday, May 2nd. Zacks Investment Research upgraded 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. Northland Securities reiterated a “buy” rating and issued a $16.00 price target on shares of Chegg in a research report on Friday, July 28th. Finally, BidaskClub lowered Chegg from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 2nd. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $13.32.

In other news, insider Charles Geiger sold 25,000 shares of Chegg stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $11.66, for a total value of $291,500.00. Following the completion of the transaction, the insider now directly owns 536,500 shares of the company’s stock, valued at approximately $6,255,590. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Andrew J. Brown sold 100,000 shares of Chegg stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $13.00, for a total value of $1,300,000.00. Following the completion of the transaction, the insider now directly owns 678,760 shares of the company’s stock, valued at $8,823,880. The disclosure for this sale can be found here. Over the last three months, insiders sold 556,968 shares of company stock valued at $7,409,166. Corporate insiders own 20.40% of the company’s stock.

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.

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Institutional Ownership by Quarter for Chegg (NYSE:CHGG)

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