Hamilton Lane Advisors LLC Has $326,000 Holdings in Chegg Inc (CHGG)

Hamilton Lane Advisors LLC reduced its stake in shares of Chegg Inc (NYSE:CHGG) by 64.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 20,000 shares of the technology company’s stock after selling 37,003 shares during the period. Hamilton Lane Advisors LLC’s holdings in Chegg were worth $326,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Great West Life Assurance Co. Can grew its position in Chegg by 106.2% during the 3rd quarter. Great West Life Assurance Co. Can now owns 7,359 shares of the technology company’s stock worth $108,000 after purchasing an additional 3,790 shares during the period. PNC Financial Services Group Inc. acquired a new stake in Chegg during the 2nd quarter worth about $104,000. BNP Paribas Arbitrage SA grew its position in Chegg by 1,829.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,051 shares of the technology company’s stock worth $111,000 after purchasing an additional 8,582 shares during the period. Stifel Financial Corp acquired a new stake in Chegg during the 2nd quarter worth about $116,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in Chegg during the 2nd quarter worth about $132,000.

Chegg Inc (NYSE:CHGG) traded up $0.04 during trading hours on Wednesday, hitting $16.25. The stock had a trading volume of 756,946 shares, compared to its average volume of 596,118. Chegg Inc has a 52-week low of $6.84 and a 52-week high of $17.04. The firm has a market cap of $1,760.00, a PE ratio of -62.50, a PEG ratio of 6.56 and a beta of 1.79.

Chegg (NYSE:CHGG) last posted its earnings results on Monday, October 30th. The technology company reported $0.01 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.02. Chegg had a negative return on equity of 5.06% and a negative net margin of 10.40%. The firm had revenue of $62.60 million for the quarter, compared to analysts’ expectations of $57.75 million. During the same period last year, the firm earned ($0.17) EPS. The company’s quarterly revenue was down 12.2% on a year-over-year basis. equities research analysts anticipate that Chegg Inc will post -0.09 earnings per share for the current year.

In related news, CEO Daniel Rosensweig sold 200,000 shares of Chegg stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $14.03, for a total value of $2,806,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michael A. Osier sold 114,928 shares of Chegg stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $14.69, for a total value of $1,688,292.32. Following the completion of the sale, the insider now owns 591,902 shares in the company, valued at $8,695,040.38. The disclosure for this sale can be found here. Over the last quarter, insiders sold 885,501 shares of company stock worth $13,502,627. 20.40% of the stock is currently owned by insiders.

CHGG has been the topic of several analyst reports. Northland Securities reaffirmed a “buy” rating and set a $18.00 price target on shares of Chegg in a research report on Wednesday, November 1st. BMO Capital Markets restated a “buy” rating and set a $20.00 target price on shares of Chegg in a research report on Wednesday. Citigroup began coverage on Chegg in a research report on Monday, November 20th. They set a “buy” rating and a $19.00 target price on the stock. BidaskClub upgraded Chegg from a “hold” rating to a “buy” rating in a research report on Tuesday, October 31st. Finally, First Analysis cut Chegg from an “overweight” rating to an “equal weight” rating and set a $18.00 target price on the stock. in a research report on Tuesday, October 31st. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Chegg has a consensus rating of “Buy” and a consensus price target of $16.45.

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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.

Institutional Ownership by Quarter for Chegg (NYSE:CHGG)

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