BNP Paribas Arbitrage SA sells 14,752 shares of Chegg Inc (CHGG)



BNP Paribas Arbitrage SA has cut its shareholdings in Chegg Inc (NYSE: CHGG) by 70.0% in the second quarter, according to the company in its most recent application to the Securities and Exchange Commission (SEC). The institutional investor had 6,337 shares from the stock of the technology company after the sale of 14,752 shares during the period. The interests of BNP Paribas Arbitrage SA in Chegg were worth $ 176,000 from the most recent SEC application.

Other institutional investors and hedge funds have also changed their holdings to the company. SG Americas Securities LLC acquired a new position in Chegg's shares in the first quarter of approximately $ 137,000. NewSquare Capital LLC acquired a new position in Chegg's shares in the second quarter with a value of approximately $ 178,000. Xact Kapitalforvaltning AB increased its interest in Chegg shares by 34.8% during the 1st quarter. Xact Kapitalforvaltning AB now owns 13,932 shares of the technology company's company worth $ 288,000 after purchasing another 3,600 shares in the last quarter. Verition Fund Management LLC acquired a new position in Chegg's shares in the first quarter of approximately $ 307,000. Finally, Millennium Management LLC acquired a new position in Chegg shares during the fourth quarter of approximately $ 388,000.

A number of research analysts have recently weighed the stock. Jefferies Financial Group reduced Chegg shares from a & # 39; buy & # 39; credit to a & # 39; hold & # 39; rating and reduced their price target for the shares from $ 27.00 to $ 14.00 in a research note on Thursday, June 21st. They noted that the move was a valuation call. Northland Securities raised Chegg's shares to a "top pick" rating in a research note on Tuesday, June 12. Barrington Research increased its price target on Chegg shares from $ 25.00 to $ 32.00 and gave the share an "outperform" rating in a study letter on Friday, June 22nd. Morgan Stanley raised their target price on Chegg shares from $ 24.00 to $ 28.00 and gave the shares a hold & # 39; credit rating in a study letter on Wednesday, August 1. Finally, Lake Street Capital raised their target price on Chegg shares from $ 20.00 to $ 26.00 and the shares gave a hold & # 39; credit rating in a research note on Tuesday, July 31. One equity research analyst assessed the shares with a sell rating, eight gave a hold rating, three gave a buy rating and two gave a strong buy-rating to the shares. The company has a consensus score of "Hold" and a consensus target price of $ 23.44.

In other Chegg news, director John E. York sold 25,000 Chegg shares in a transaction on Tuesday, August 14th. The shares were sold at an average price of $ 29.10, for a total value of $ 727,500.00. After the transaction, the director now holds 33,214 shares in the company, valued at approximately $ 966,527.40. The sale has been published in a document submitted to the SEC and is accessible via the SEC website. Insider Nathan J. Schultz also sold 6,431 Chegg shares in a transaction on Tuesday 29 May. The shares were sold at an average price of $ 27.00, for a total transaction of $ 173,637.00. After the completion of the transaction, the insider now owns 502,347 shares in the company, valued at approximately $ 13,563,369. The information for this sale can be found here. In the past 90 days, insiders have sold a total of 681,586 shares in the company's shares to the value of $ 19,553,815. 10.80% of the stock is owned by insiders of companies.

CHGG shares opened $ 31.37 on Friday. The company has a market capitalization of $ 3.53 billion, a price-earnings ratio of -348.56, a PEG ratio of 15.63 and a beta of 1.43. The company has a debt-to-equity ratio of 0.71, a current ratio of 10.11 and a quick ratio of 10.11. Chegg Inc has a year low of $ 13.52 and a year of $ 31.65.

Chegg (NYSE: CHGG) last released its results on Monday, July 30. The technology company reported $ 0.12 earnings per share this quarter, on top of Thomson Reuters' consensus estimate of $ 0.08 with $ 0.04. The company posted sales of $ 74.22 million in the quarter compared to analysts' expectations of $ 70.16 million. Chegg had a negative net margin of 5.01% and a positive return on equity of 0.87%. Chegg's turnover for the quarter increased by 31.8% year-on-year. In the same period of the previous year, the company earned $ 0.06 EPS. sell-side analysts expect Chegg Inc to publish 0.07 EPS for the current year.

Chegg Profile

Chegg, Inc. provides a direct-to-student learning platform that supports students during their high school trip to college and to their careers with tools designed to help them pass their test, reach their class and save money. on the necessary materials. The company offers Chegg Services, including digital products and services; and necessary materials containing the printed textbooks and eTextbooks.

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Institutional ownership quarterly for Chegg (NYSE: CHGG)

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