Chegg, Inc. (CHGG) Can’t Be More Hot. Just Reaches 52-Week High

June 12, 2018 - By Maria Brooks

Chegg, Inc. (NYSE:CHGG) Logo

Investors sentiment decreased to 1.09 in Q1 2018. Its down 0.46, from 1.55 in 2017Q4. It dived, as 12 investors sold Chegg, Inc. shares while 66 reduced holdings. 43 funds opened positions while 42 raised stakes. 115.68 million shares or 3.26% more from 112.03 million shares in 2017Q4 were reported.
The Wisconsin-based Timpani Limited Liability Co has invested 3.17% in Chegg, Inc. (NYSE:CHGG). Moreover, G2 Invest Prns Management Limited has 1.5% invested in Chegg, Inc. (NYSE:CHGG). Schwab Charles Invest Mngmt stated it has 0.01% in Chegg, Inc. (NYSE:CHGG). Nj State Employees Deferred Compensation Plan invested in 0.11% or 31,000 shares. Bluecrest Mngmt holds 0.16% or 250,186 shares in its portfolio. Par Capital Inc reported 6.24 million shares. Waddell And Reed Financial reported 0% of its portfolio in Chegg, Inc. (NYSE:CHGG). 15,300 were reported by Dimensional Fund Advsrs Limited Partnership. Macquarie Grp Limited accumulated 202,795 shares or 0.01% of the stock. Aristeia Llc reported 0.08% stake. Tower Capital Limited Liability Com (Trc) owns 300 shares. Manufacturers Life Insur The, Ontario – Canada-based fund reported 72,096 shares. Neuberger Berman Limited Liability Co holds 0% of its portfolio in Chegg, Inc. (NYSE:CHGG) for 59,914 shares. First Tru Limited Partnership holds 0% of its portfolio in Chegg, Inc. (NYSE:CHGG) for 84,138 shares. Products Prtn Limited Liability reported 0.04% stake.

Since December 13, 2017, it had 0 insider purchases, and 35 selling transactions for $49.89 million activity. $472,714 worth of Chegg, Inc. (NYSE:CHGG) was sold by Osier Michael A. on Wednesday, January 3. BRANDEMUEHL JENNY also sold $783,500 worth of Chegg, Inc. (NYSE:CHGG) shares. ROSENSWEIG DANIEL had sold 150,000 shares worth $3.72 million on Monday, May 14. On Tuesday, May 8 the insider BROWN ANDREW J sold $5.01M. 9,400 Chegg, Inc. (NYSE:CHGG) shares with value of $159,800 were sold by Lem Esther. BUDIG RENEE VARNI sold 58,175 shares worth $1.61 million.

The stock of Chegg, Inc. (NYSE:CHGG) hit a new 52-week high and has $31.11 target or 6.00 % above today’s $29.35 share price. The 6 months bullish chart indicates low risk for the $3.29 billion company. The 1-year high was reported on Jun, 12 by Barchart.com. If the $31.11 price target is reached, the company will be worth $197.52M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 1.54% or $0.44 during the last trading session, reaching $29.35. About 671,525 shares traded. Chegg, Inc. (NYSE:CHGG) has risen 125.55% since June 12, 2017 and is uptrending. It has outperformed by 112.98% the S&P500.

Chegg, Inc. (NYSE:CHGG) Ratings Coverage

Among 10 analysts covering Chegg Inc (NYSE:CHGG), 5 have Buy rating, 0 Sell and 5 Hold. Therefore 50% are positive. Chegg Inc has $2600 highest and $2000 lowest target. $22.72’s average target is -22.59% below currents $29.35 stock price. Chegg Inc had 13 analyst reports since January 8, 2018 according to SRatingsIntel. The rating was downgraded by Raymond James on Friday, April 27 to “Hold”. The rating was maintained by Barrington on Friday, April 27 with “Buy”. The stock of Chegg, Inc. (NYSE:CHGG) has “Buy” rating given on Tuesday, February 13 by Jefferies. As per Friday, April 27, the company rating was downgraded by Craig Hallum. The stock of Chegg, Inc. (NYSE:CHGG) earned “Overweight” rating by JP Morgan on Tuesday, February 13. Citigroup maintained Chegg, Inc. (NYSE:CHGG) rating on Monday, April 30. Citigroup has “Neutral” rating and $23.5 target. The stock has “Hold” rating by Lake Street on Friday, April 27. The rating was maintained by BMO Capital Markets on Tuesday, April 10 with “Buy”. The rating was maintained by BMO Capital Markets with “Buy” on Wednesday, January 17. Northland Capital maintained Chegg, Inc. (NYSE:CHGG) on Monday, January 8 with “Buy” rating.

Another recent and important Chegg, Inc. (NYSE:CHGG) news was published by Seekingalpha.com which published an article titled: “Chegg May Be Overvalued. So What?” on May 16, 2018.

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 $3.29 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.

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

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