Chegg Inc (NYSE:CHGG) Institutional Investor Positioning Change

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Sentiment for Chegg Inc (NYSE:CHGG)

Chegg Inc (NYSE:CHGG) institutional sentiment increased to 1.31 in 2019 Q1. Its up 0.22, from 1.09 in 2018Q4. The ratio is positive, as 123 hedge funds opened new or increased equity positions, while 94 decreased and sold stock positions in Chegg Inc. The hedge funds in our partner’s database now possess: 139.63 million shares, up from 111.69 million shares in 2018Q4. Also, the number of hedge funds holding Chegg Inc in their top 10 equity positions decreased from 15 to 11 for a decrease of 4. Sold All: 18 Reduced: 76 Increased: 65 New Position: 58.

Chegg, Inc. operates student-first connected learning platform that help students transition from high school to college to career. The company has market cap of $5.25 billion. The companyÂ’s services and products help students to study for college admission exams, find the right college to accomplish their goals, get better grades and test scores while in school, and find internships that allow them to gain skills to help them enter the workforce after college. It currently has negative earnings. It offers print textbook and eTextbook library for rent and sale; and provides eTextbooks, supplemental materials, Chegg Study service, tutoring service, writing tools, textbook buyback, test preparation service, internships, and college admissions and scholarship services, as well as enrollment marketing and brand advertising services.

The stock decreased 1.05% or $0.47 during the last trading session, reaching $44.26. About 988,386 shares traded. Chegg, Inc. (NYSE:CHGG) has risen 47.99% since July 14, 2018 and is uptrending. It has outperformed by 43.56% the S&P500.

Analysts await Chegg, Inc. (NYSE:CHGG) to report earnings on July, 29. They expect $0.04 earnings per share, up 33.33 % or $0.01 from last year’s $0.03 per share. CHGG’s profit will be $4.74M for 276.63 P/E if the $0.04 EPS becomes a reality. After $0.03 actual earnings per share reported by Chegg, Inc. for the previous quarter, Wall Street now forecasts 33.33 % EPS growth.

Millennium Tvp Management Co. Llc holds 33.59% of its portfolio in Chegg, Inc. for 778,116 shares. Act Ii Management Lp owns 305,258 shares or 9.66% of their US portfolio. Moreover, Sylebra Hk Co Ltd has 7.94% invested in the company for 3.53 million shares. The New Jersey-based Selkirk Management Llc has invested 6.98% in the stock. Firsthand Capital Management Inc., a California-based fund reported 290,000 shares.

Since January 1, 0001, it had 0 insider buys, and 3 sales for $4.54 million activity.

Chegg, Inc. (NYSE:CHGG) Ratings Coverage

Ratings analysis reveals 0 of Chegg’s analysts are positive. Out of 2 Wall Street analysts rating Chegg, 0 give it “Buy”, 0 “Sell” rating, while 2 recommend “Hold”. The lowest target is $3700 while the high is $40. The stock’s average target of $38.50 is -13.01% below today’s ($44.26) share price. CHGG was included in 6 notes of analysts from February 8, 2019. On Thursday, March 21 the stock rating was maintained by Jefferies with “Hold”. The stock of Chegg, Inc. (NYSE:CHGG) earned “Neutral” rating by Citigroup on Friday, February 8.

More notable recent Chegg, Inc. (NYSE:CHGG) news were published by: Seekingalpha.com which released: “Chegg: Great Company, But Too Expensive – Seeking Alpha” on June 05, 2019, also Finance.Yahoo.com with their article: “Chegg Inc (CHGG) PRESIDENT, CEO & CO-CHAIRMAN Daniel Rosensweig Sold $6.6 million of Shares – Yahoo Finance” published on June 21, 2019, Finance.Yahoo.com published: “Hedge Funds Have Never Been This Bullish On Cyberark Software Ltd (CYBR) – Yahoo Finance” on June 20, 2019. More interesting news about Chegg, Inc. (NYSE:CHGG) were released by: Seekingalpha.com and their article: “Chegg Q1 2019 Earnings Preview – Seeking Alpha” published on April 28, 2019 as well as Finance.Yahoo.com‘s news article titled: “Why Chegg, Inc. (NYSE:CHGG) Could Be Worth Watching – Yahoo Finance” with publication date: July 04, 2019.

Chegg, Inc. (NYSE:CHGG) Institutional Positions Chart

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