AGF Investments Inc. purchased a new position in shares of Chegg Inc (NYSE:CHGG) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 150,000 shares of the technology company’s stock, valued at approximately $4,265,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of Montreal Can increased its position in Chegg by 612.4% during the third quarter. Bank of Montreal Can now owns 5,920 shares of the technology company’s stock worth $168,000 after buying an additional 5,089 shares during the period. NewSquare Capital LLC acquired a new position in Chegg during the second quarter worth approximately $178,000. BB&T Securities LLC acquired a new position in Chegg during the second quarter worth approximately $209,000. Strs Ohio acquired a new position in Chegg during the second quarter worth approximately $241,000. Finally, HM Payson & Co. acquired a new position in Chegg during the second quarter worth approximately $245,000.

NYSE:CHGG opened at $26.48 on Friday. The company has a market capitalization of $3.01 billion, a PE ratio of -294.22, a P/E/G ratio of 10.16 and a beta of 1.43. The company has a current ratio of 6.56, a quick ratio of 6.56 and a debt-to-equity ratio of 0.72. Chegg Inc has a 12-month low of $13.83 and a 12-month high of $32.82.

Chegg (NYSE:CHGG) last released its earnings results on Monday, October 29th. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.04. The business had revenue of $74.20 million for the quarter, compared to analyst estimates of $69.02 million. Chegg had a positive return on equity of 1.75% and a negative net margin of 5.55%. The company’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.01 earnings per share. Equities analysts predict that Chegg Inc will post 0.09 earnings per share for the current year.

In other news, CEO Daniel Rosensweig sold 150,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $31.07, for a total value of $4,660,500.00. Following the transaction, the chief executive officer now owns 2,435,450 shares of the company’s stock, valued at $75,669,431.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jenny Brandemuehl sold 75,000 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $28.50, for a total value of $2,137,500.00. Following the completion of the transaction, the insider now directly owns 516,962 shares in the company, valued at approximately $14,733,417. The disclosure for this sale can be found here. In the last three months, insiders sold 540,000 shares of company stock worth $14,988,150. Corporate insiders own 10.80% of the company’s stock.

CHGG has been the topic of several research analyst reports. Zacks Investment Research raised Chegg from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research report on Thursday, November 8th. Citigroup raised Chegg from a “neutral” rating to a “buy” rating in a research report on Thursday, October 25th. Barrington Research reaffirmed a “buy” rating and set a $32.00 price target on shares of Chegg in a research report on Monday, October 22nd. Craig Hallum raised Chegg from a “hold” rating to a “buy” rating in a research report on Tuesday, October 2nd. Finally, Morgan Stanley lifted their price target on Chegg from $24.00 to $28.00 and gave the stock a “hold” rating in a research report on Wednesday, August 1st. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $26.80.

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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.

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Institutional Ownership by Quarter for Chegg (NYSE:CHGG)

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