Phoenix Holdings Ltd. bought a new position in Chegg, Inc. (NYSE:CHGG) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 3,647 shares of the technology company’s stock, valued at approximately $247,000.

A number of other large investors have also bought and sold shares of the business. Sigma Planning Corp purchased a new position in Chegg in the second quarter worth about $270,000. Advisory Services Network LLC boosted its position in shares of Chegg by 9,969.5% during the second quarter. Advisory Services Network LLC now owns 21,448 shares of the technology company’s stock valued at $1,443,000 after buying an additional 21,235 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Chegg during the third quarter valued at approximately $2,001,000. Arizona State Retirement System boosted its position in shares of Chegg by 7.6% during the second quarter. Arizona State Retirement System now owns 27,511 shares of the technology company’s stock valued at $1,850,000 after buying an additional 1,949 shares during the period. Finally, Swiss National Bank boosted its position in shares of Chegg by 28.8% during the second quarter. Swiss National Bank now owns 272,100 shares of the technology company’s stock valued at $18,301,000 after buying an additional 60,900 shares during the period. 90.87% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider John Paul Fillmore sold 1,321 shares of the business’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $77.73, for a total transaction of $102,681.33. Following the sale, the insider now directly owns 138,147 shares of the company’s stock, valued at $10,738,166.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John E. York sold 10,000 shares of the business’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $73.38, for a total transaction of $733,800.00. Following the sale, the director now directly owns 26,792 shares in the company, valued at $1,965,996.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 97,584 shares of company stock worth $7,139,614. Insiders own 3.10% of the company’s stock.

Shares of CHGG stock opened at $71.02 on Friday. The business’s fifty day simple moving average is $77.47 and its 200-day simple moving average is $71.11. The company has a market cap of $9.15 billion, a PE ratio of -355.10, a PEG ratio of 3.29 and a beta of 1.07. The company has a current ratio of 9.09, a quick ratio of 9.09 and a debt-to-equity ratio of 2.38. Chegg, Inc. has a 12-month low of $25.89 and a 12-month high of $89.99.

Chegg (NYSE:CHGG) last issued its quarterly earnings results on Monday, October 26th. The technology company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.07. The business had revenue of $154.00 million for the quarter, compared to the consensus estimate of $111.16 million. Chegg had a positive return on equity of 13.35% and a negative net margin of 4.26%. The business’s quarterly revenue was up 63.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.18 earnings per share. On average, equities analysts forecast that Chegg, Inc. will post 0.69 earnings per share for the current year.

Several research analysts have issued reports on the company. BNP Paribas assumed coverage on Chegg in a research report on Friday, November 6th. They set an “underperform” rating and a $55.00 target price for the company. Craig Hallum boosted their target price on Chegg from $65.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Raymond James lifted their price target on shares of Chegg from $93.00 to $96.00 and gave the company an “outperform” rating in a research note on Tuesday, October 27th. Needham & Company LLC lifted their price target on shares of Chegg from $70.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Finally, Zacks Investment Research downgraded shares of Chegg from a “buy” rating to a “hold” rating in a research note on Friday, October 30th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Chegg has an average rating of “Buy” and a consensus target price of $83.00.

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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