Oppenheimer Asset Management Inc. Has $1.09 Million Holding in Chegg Inc (CHGG)

Oppenheimer Asset Management Inc. Has $1.09 Million Holding in Chegg Inc (CHGG)

Oppenheimer Asset Management Inc. lessened its holdings in Chegg Inc (NYSE:CHGG) by 4.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 38,459 shares of the technology company’s stock after selling 1,822 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Chegg were worth $1,093,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CHGG. Vanguard Group Inc lifted its position in shares of Chegg by 12.8% in the 3rd quarter. Vanguard Group Inc now owns 10,365,544 shares of the technology company’s stock worth $294,693,000 after purchasing an additional 1,174,038 shares during the period. Vanguard Group Inc. lifted its position in Chegg by 12.8% during the third quarter. Vanguard Group Inc. now owns 10,365,544 shares of the technology company’s stock valued at $294,693,000 after acquiring an additional 1,174,038 shares during the last quarter. FMR LLC lifted its position in Chegg by 19.3% during the second quarter. FMR LLC now owns 6,321,121 shares of the technology company’s stock valued at $175,664,000 after acquiring an additional 1,022,400 shares during the last quarter. Baillie Gifford & Co. lifted its position in Chegg by 19.0% during the third quarter. Baillie Gifford & Co. now owns 5,550,841 shares of the technology company’s stock valued at $157,810,000 after acquiring an additional 887,402 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its position in Chegg by 13,729.5% during the third quarter. Public Employees Retirement Association of Colorado now owns 645,006 shares of the technology company’s stock valued at $18,338,000 after acquiring an additional 640,342 shares during the last quarter. 99.39% of the stock is owned by hedge funds and other institutional investors.

NYSE:CHGG opened at $34.40 on Friday. Chegg Inc has a 52 week low of $15.47 and a 52 week high of $36.05. The company has a debt-to-equity ratio of 0.72, a current ratio of 6.56 and a quick ratio of 6.56. The company has a market cap of $4.05 billion, a P/E ratio of 704.20, a PEG ratio of 7.96 and a beta of 1.21.

In other Chegg news, CEO Daniel Rosensweig sold 150,000 shares of the company’s stock in a transaction that occurred on Monday, November 12th. The shares were sold at an average price of $26.34, for a total transaction of $3,951,000.00. Following the transaction, the chief executive officer now owns 2,435,450 shares in the company, valued at approximately $64,149,753. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nathan J. Schultz sold 2,300 shares of the company’s stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $36.02, for a total transaction of $82,846.00. Following the transaction, the insider now owns 505,604 shares in the company, valued at approximately $18,211,856.08. The disclosure for this sale can be found here. Insiders have sold a total of 584,802 shares of company stock worth $17,512,872 in the last 90 days. 10.80% of the stock is currently owned by company insiders.

CHGG has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Chegg from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research report on Tuesday, January 1st. Barrington Research reissued a “buy” rating and set a $32.00 target price on shares of Chegg in a research report on Monday, October 22nd. Jefferies Financial Group decreased their target price on shares of Chegg from $30.00 to $28.00 and set a “hold” rating for the company in a research report on Tuesday, October 30th. First Analysis raised shares of Chegg from a “neutral” rating to an “outperform” rating and set a $30.00 target price for the company in a research report on Tuesday, October 30th. Finally, Citigroup raised shares of Chegg from a “neutral” rating to a “buy” rating in a research report on Thursday, October 25th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. Chegg currently has an average rating of “Buy” and an average target price of $28.56.

Chegg 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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