Wesbanco Bank Inc. Buys New Position in Chegg Inc (CHGG)
Wesbanco Bank Inc. bought a new stake in Chegg Inc (NYSE:CHGG) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 59,308 shares of the technology company’s stock, valued at approximately $1,686,000. Wesbanco Bank Inc. owned about 0.05% of Chegg as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently bought and sold shares of the business. We Are One Seven LLC acquired a new position in shares of Chegg in the 4th quarter valued at $79,000. PNC Financial Services Group Inc. boosted its position 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 period. Bank of Montreal Can boosted its position in Chegg by 612.4% during the 3rd quarter. Bank of Montreal Can now owns 5,920 shares of the technology company’s stock worth $168,000 after acquiring an additional 5,089 shares during the period. National Asset Management Inc. acquired a new stake in Chegg during the 3rd quarter worth about $223,000. Finally, AXA acquired a new stake in Chegg during the 3rd quarter worth about $225,000. Institutional investors own 99.40% of the company’s stock.
Shares of Chegg stock traded up $0.96 during trading hours on Monday, hitting $35.36. The company’s stock had a trading volume of 17,888 shares, compared to its average volume of 1,323,842. Chegg Inc has a 12 month low of $15.47 and a 12 month high of $36.05. The company has a market capitalization of $3.97 billion, a P/E ratio of -393.50, a price-to-earnings-growth ratio of 7.77 and a beta of 1.21. The company has a debt-to-equity ratio of 0.72, a current ratio of 6.56 and a quick ratio of 6.56.
In other news, insider Andrew J. Brown sold 56,352 shares of the company’s stock in a transaction dated Wednesday, December 12th. The stock was sold at an average price of $30.08, for a total transaction of $1,695,068.16. Following the completion of the transaction, the insider now directly owns 584,097 shares of the company’s stock, valued at $17,569,637.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Andrew J. Brown sold 21,500 shares of the company’s stock in a transaction dated Wednesday, December 19th. The stock was sold at an average price of $30.07, for a total value of $646,505.00. Following the transaction, the insider now directly owns 605,597 shares of the company’s stock, valued at $18,210,301.79. The disclosure for this sale can be found here. Insiders sold 434,802 shares of company stock valued at $13,561,872 over the last 90 days. Corporate insiders own 10.80% of the company’s stock.
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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