As Chegg (CHGG) Share Value Rose, Summit Creek Advisors Has Raised Its Stake; Montrusco Bolton Investments Has Boosted Its Position in Qualcomm (QCOM) by $2.28 Million as Stock Price Declined

April 17, 2018 - By Winifred Garcia

Chegg, Inc. (NYSE:CHGG) Logo

Montrusco Bolton Investments Inc increased its stake in Qualcomm Inc (QCOM) by 670.23% based on its latest 2017Q4 regulatory filing with the SEC. Montrusco Bolton Investments Inc bought 35,690 shares as the company’s stock declined 15.28% with the market. The institutional investor held 41,015 shares of the radio and television broadcasting and communications equipment company at the end of 2017Q4, valued at $2.63M, up from 5,325 at the end of the previous reported quarter. Montrusco Bolton Investments Inc who had been investing in Qualcomm Inc for a number of months, seems to be bullish on the $82.28 billion market cap company. The stock increased 1.48% or $0.81 during the last trading session, reaching $55.58. About 4.13 million shares traded. QUALCOMM Incorporated (NASDAQ:QCOM) has declined 3.21% since April 17, 2017 and is downtrending. It has underperformed by 14.76% the S&P500.

Summit Creek Advisors Llc increased its stake in Chegg Inc. (CHGG) by 200.42% based on its latest 2017Q4 regulatory filing with the SEC. Summit Creek Advisors Llc bought 345,321 shares as the company’s stock rose 31.43% while stock markets declined. The institutional investor held 517,620 shares of the consumer services company at the end of 2017Q4, valued at $8.45M, up from 172,299 at the end of the previous reported quarter. Summit Creek Advisors Llc who had been investing in Chegg Inc. for a number of months, seems to be bullish on the $2.49 billion market cap company. The stock increased 2.87% or $0.63 during the last trading session, reaching $22.62. About 859,931 shares traded. Chegg, Inc. (NYSE:CHGG) has risen 163.02% since April 17, 2017 and is uptrending. It has outperformed by 151.47% the S&P500.

Since October 27, 2017, it had 0 insider purchases, and 6 sales for $6.14 million activity. Another trade for 50,126 shares valued at $3.14 million was sold by THOMPSON JAMES H. ROGERS ALEXANDER H sold $78,989 worth of QUALCOMM Incorporated (NASDAQ:QCOM) on Tuesday, February 27.

Among 37 analysts covering Qualcomm Inc. (NASDAQ:QCOM), 16 have Buy rating, 2 Sell and 19 Hold. Therefore 43% are positive. Qualcomm Inc. had 142 analyst reports since July 23, 2015 according to SRatingsIntel. Susquehanna maintained the shares of QCOM in report on Monday, March 26 with “Buy” rating. The stock has “Underperform” rating by BMO Capital Markets on Friday, July 15. The firm has “Equal-Weight” rating by Morgan Stanley given on Thursday, November 10. Stifel Nicolaus maintained QUALCOMM Incorporated (NASDAQ:QCOM) on Friday, May 26 with “Buy” rating. The firm earned “Hold” rating on Monday, November 6 by Standpoint Research. The rating was upgraded by Mizuho on Friday, September 30 to “Buy”. The stock has “Hold” rating by Oppenheimer on Wednesday, July 19. The firm has “Buy” rating given on Thursday, January 28 by Rosenblatt. On Wednesday, July 19 the stock rating was maintained by BMO Capital Markets with “Hold”. The stock of QUALCOMM Incorporated (NASDAQ:QCOM) has “Outperform” rating given on Wednesday, November 8 by RBC Capital Markets.

Montrusco Bolton Investments Inc, which manages about $6.00 billion and $1.83B US Long portfolio, decreased its stake in Thomson Reuters Corp (NYSE:TRI) by 1.47 million shares to 326,673 shares, valued at $14.29M in 2017Q4, according to the filing. It also reduced its holding in Johnson & Johnson (NYSE:JNJ) by 11,269 shares in the quarter, leaving it with 58,591 shares, and cut its stake in Schein Henry Inc (NASDAQ:HSIC).

Investors sentiment decreased to 0.83 in 2017 Q4. Its down 0.02, from 0.85 in 2017Q3. It turned negative, as 89 investors sold QCOM shares while 518 reduced holdings. 160 funds opened positions while 346 raised stakes. 1.11 billion shares or 0.73% more from 1.10 billion shares in 2017Q3 were reported. Advisor Prtn has 23,003 shares for 0.28% of their portfolio. State Of Wisconsin Investment Board holds 0.35% in QUALCOMM Incorporated (NASDAQ:QCOM) or 2.01 million shares. Philadelphia holds 149,664 shares. Cap Ok accumulated 0.74% or 198,032 shares. Scotia Capital Inc holds 0.18% in QUALCOMM Incorporated (NASDAQ:QCOM) or 215,491 shares. Birinyi, Connecticut-based fund reported 4,000 shares. Papp L Roy Associate holds 0.7% or 55,435 shares in its portfolio. Suntrust Banks Inc has 198,020 shares for 0.07% of their portfolio. Missouri-based Monetary Management Grp has invested 0.34% in QUALCOMM Incorporated (NASDAQ:QCOM). Brighton Jones reported 0.06% of its portfolio in QUALCOMM Incorporated (NASDAQ:QCOM). Jfs Wealth Advisors Limited Liability Com has 480 shares. Burns J W Ny stated it has 0.06% of its portfolio in QUALCOMM Incorporated (NASDAQ:QCOM). Dekabank Deutsche Girozentrale owns 392,692 shares. Texas-based Visionary Asset Inc has invested 0.86% in QUALCOMM Incorporated (NASDAQ:QCOM). New Jersey Better Educational Savings accumulated 10,000 shares.

Among 14 analysts covering Chegg Inc (NYSE:CHGG), 11 have Buy rating, 0 Sell and 3 Hold. Therefore 79% are positive. Chegg Inc had 40 analyst reports since August 5, 2015 according to SRatingsIntel. The company was maintained on Wednesday, November 1 by JP Morgan. The firm earned “Outperform” rating on Tuesday, May 2 by Raymond James. Northland Capital maintained the shares of CHGG in report on Monday, January 8 with “Buy” rating. The rating was maintained by BMO Capital Markets with “Buy” on Thursday, August 31. The firm has “Market Perform” rating given on Tuesday, February 23 by Raymond James. BMO Capital Markets maintained it with “Buy” rating and $18.0 target in Friday, November 17 report. The stock of Chegg, Inc. (NYSE:CHGG) has “Buy” rating given on Wednesday, January 17 by BMO Capital Markets. The rating was maintained by Lake Street on Tuesday, February 23 with “Buy”. The stock of Chegg, Inc. (NYSE:CHGG) has “Buy” rating given on Tuesday, August 29 by Northland Capital. Citigroup downgraded Chegg, Inc. (NYSE:CHGG) on Tuesday, March 13 to “Neutral” rating.

Summit Creek Advisors Llc, which manages about $971.18M and $532.50 million US Long portfolio, decreased its stake in Grubhub Inc. (NYSE:GRUB) by 45,015 shares to 154,705 shares, valued at $11.11 million in 2017Q4, according to the filing. It also reduced its holding in Callidus Software (NASDAQ:CALD) by 107,015 shares in the quarter, leaving it with 302,540 shares, and cut its stake in Echo Global Logistics (NASDAQ:ECHO).

Investors sentiment decreased to 1.55 in 2017 Q4. Its down 0.34, from 1.89 in 2017Q3. It dropped, as 20 investors sold CHGG shares while 38 reduced holdings. 27 funds opened positions while 63 raised stakes. 112.03 million shares or 9.19% more from 102.60 million shares in 2017Q3 were reported. S Squared Tech Ltd Liability Corporation has invested 5.05% in Chegg, Inc. (NYSE:CHGG). Destination Wealth Management has invested 0.2% of its portfolio in Chegg, Inc. (NYSE:CHGG). Kbc Group Inc Nv reported 104,482 shares stake. 43,339 were accumulated by Citadel Advsrs Limited Liability Corp. Cim Invest Mangement Inc reported 24,157 shares. Ashford Cap Management invested 5.95% in Chegg, Inc. (NYSE:CHGG). Essex Invest Mngmt Limited Liability Co, a Massachusetts-based fund reported 132,207 shares. Bnp Paribas Arbitrage has 0% invested in Chegg, Inc. (NYSE:CHGG) for 19,747 shares. Service Automobile Association reported 0% of its portfolio in Chegg, Inc. (NYSE:CHGG). Metropolitan Life Insurance Company Ny reported 28,588 shares or 0.01% of all its holdings. Ameritas Invest Prtnrs holds 8,114 shares. G2 Invest Prns Mgmt Limited Liability Company owns 1.8% invested in Chegg, Inc. (NYSE:CHGG) for 286,350 shares. Timpani Capital Mngmt Limited Company invested in 2.59% or 441,841 shares. Millennium Mgmt Ltd Llc reported 0% stake. Columbus Circle Invsts has invested 0.47% of its portfolio in Chegg, Inc. (NYSE:CHGG).

Since December 13, 2017, it had 0 insider buys, and 23 insider sales for $26.00 million activity. Osier Michael A. sold $2.00M worth of stock or 107,636 shares. HOUSENBOLD JEFFREY T sold $1.09 million worth of stock. ROSENSWEIG DANIEL sold $3.60M worth of Chegg, Inc. (NYSE:CHGG) on Tuesday, February 13. Another trade for 15,000 shares valued at $303,900 was sold by BORDERS DAVE JR.. $175,000 worth of stock was sold by Lem Esther on Tuesday, February 13. Schultz Nathan J. sold $324,126 worth of stock or 14,733 shares.

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

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