SEC Form SC 13G filed by Chegg Inc.

2/14/24 4:03:25 PM ET

$CHGG

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SC 13G 1 chgg_13024.htm SYLEBRA CAPITAL LLC chgg_13024.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934

Chegg, Inc

(Name of Issuer)

Common Stock

(Title of Class of Securities)

163092109

(CUSIP Number)

December 31, 2023

(Date of Event which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

[X] Rule 13d-1(b)

[ ] Rule 13d-1(c)

[ ] Rule 13d-1(d)

* The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see Instructions).

CUSIP No.: 163092109


1	NAME OF REPORTING PERSON Sylebra Capital Limited I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ]
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION Hong Kong
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		5	SOLE VOTING POWER
		6	SHARED VOTING POWER 9,410,827
		7	SOLE DISPOSITIVE POWER
		8	SHARED DISPOSITIVE POWER 9,410,827
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 9,410,827
10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ]
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 8.13%
12	TYPE OF REPORTING PERSON HC, IA

CUSIP No.: 163092109


1	NAME OF REPORTING PERSON Sylebra Capital Management I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ]
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		5	SOLE VOTING POWER
		6	SHARED VOTING POWER 9,410,827
		7	SOLE DISPOSITIVE POWER
		8	SHARED DISPOSITIVE POWER 9,410,827
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 9,410,827
10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ]
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 8.13%
12	TYPE OF REPORTING PERSON HC, IA

CUSIP No.: 163092109


1	NAME OF REPORTING PERSON Sylebra Capital LLC I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ]
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION Delaware, US
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		5	SOLE VOTING POWER
		6	SHARED VOTING POWER 9,410,827
		7	SOLE DISPOSITIVE POWER
		8	SHARED DISPOSITIVE POWER 9,410,827
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 9,410,827
10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ]
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 8.13%
12	TYPE OF REPORTING PERSON HC, IA

CUSIP No.: 163092109


1	NAME OF REPORTING PERSON Daniel Patrick Gibson I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ]
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION Antigua and Barbuda
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		5	SOLE VOTING POWER
		6	SHARED VOTING POWER 9,410,827
		7	SOLE DISPOSITIVE POWER
		8	SHARED DISPOSITIVE POWER 9,410,827
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 9,410,827
10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ]
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 8.13%
12	TYPE OF REPORTING PERSON IN

CUSIP No.: 163092109

ITEM 1(a).	NAME OF ISSUER: Chegg, Inc
ITEM 1(b).	ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: 3990 Freedom Circle Santa Clara, CA 95054
ITEM 2(a).	NAME OF PERSON FILING: Sylebra Capital Limited Sylebra Capital Management Sylebra Capital LLC Daniel Patrick Gibson
ITEM 2(b).	ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE: The principal address of the Reporting Persons is c/o Sylebra Capital LLC, 3000 El Camino Real, Building 5, Suite 450, Palo Alto, CA 94306.
ITEM 2(c).	CITIZENSHIP: Hong Kong Cayman Islands Delaware, US Antigua and Barbuda
ITEM 2(d).	TITLE OF CLASS OF SECURITIES: Common Stock
ITEM 2(e).	CUSIP NUMBER: 163092109
ITEM 3.	IF THIS STATEMENT IS FILED PURSUANT TO SECTION 240.13d-1(b), or 13d-2(b) or (c) CHECK WHETHER THE PERSON FILING IS A:
	(a) [ ]	Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78c);
	(b) [ ]	Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c);
	(c) [ ]	Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c);
	(d) [ ]	Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8);
	(e) [X]	An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E);
	(f) [ ]	An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F);
	(g) [ ]	A parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G);
	(h) [ ]	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
	(i) [ ]	A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
	(j) [X]	A non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J);
	(k) [ ]	Group, in accordance with 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with 240.13d1(b)(1)(ii)(J), please specify the type of institution: Sylebra HK is a Hong Kong Investment Adviser licenesd by the SFC.

ITEM 4.	OWNERSHIP

	(a) Amount beneficially owned:
	9,410,827
	(b) Percent of class:
	8.13%
	(c) Number of shares as to which the person has:
	(i) sole power to vote or to direct the vote:

	(ii) shared power to vote or to direct the vote:
	Sylebra Capital Limited : 9,410,827 Sylebra Capital Management : 9,410,827 Sylebra Capital LLC : 9,410,827 Daniel Patrick Gibson : 9,410,827
	(iii) sole power to dispose or direct the disposition of:

	(iv) shared power to dispose or to direct the disposition of:
	Sylebra Capital Limited : 9,410,827 Sylebra Capital Management : 9,410,827 Sylebra Capital LLC : 9,410,827 Daniel Patrick Gibson : 9,410,827
ITEM 5.	OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [ ].
ITEM 6.	OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON: All Shares reported in this Schedule 13G are held by advisory clients of Sylebra US. None of the advisory clients individually hold economic interest of more than 5% of outstanding shares.
ITEM 7.	IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY:
ITEM 8.	IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP:
ITEM 9.	NOTICE OF DISSOLUTION OF GROUP:
ITEM 10.	CERTIFICATION: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were notacquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer ofthe securities and were not acquired and are not held in connection with or as a participant in any transaction havingthat purpose or effect.

CUSIP No.: 163092109

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

January 30 2024

Sylebra Capital LLC

By:

/s/ Matthew Whitehead

Name:

Matthew Whitehead

Title:

Authorized Signatory

January 30 2024

Sylebra Capital Limited

By:

/s/ Matthew Whitehead

Name:

Matthew Whitehead

Title:

Director, COO, Authorized Signatory

January 30 2024

Sylebra Capital Management

By:

/s/ Matthew Whitehead

Name:

Matthew Whitehead

Title:

Director, Authorized Signatory

January 30 2024

Daniel Patrick Gibson

By:

/s/ Daniel Patrick Gibson

Name:

Daniel Patrick Gibson

Title:

Individual

Attention — Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001).

CUSIP No.: 163092109

JOINT FILING AGREEMENT
The undersigned hereby agree that the statement on Schedule 13G with respect to the Common Stock named herein, dated as of page1 of the filing is, and any amendments thereto (including amendments on Schedule 13D) signed by each of the undersigned shall befiled on behalf of each of us pursuant to and in accordance with the provisions of Rule 13d-1(k) under the Securities Exchange Act of1934.

Sylebra Capital LLC
By: /s/ Matthew Whitehead
Name: Matthew Whitehead
Title: Authorised Signatory

Sylebra Capital Limited
By: /s/ Matthew Whitehead
Name: Matthew Whitehead
Title: Director, COO, CCO, Authorised Signatory

Sylebra Capital Management
By: /s/ Matthew Whitehead
Name: Matthew Whitehead
Title: Authorised Signatory

Daniel Patrick Gibson
By: /s/ Daniel Patrick Gibson
Name: Daniel Patrick Gibson
Title: Individual

30 January 2024

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Date	Price Target	Rating	Analyst
4/8/2025		Neutral → Underweight	Analyst
1/14/2025	$2.00 → $1.25	Equal-Weight → Underweight	Morgan Stanley
8/6/2024		Sell → Neutral	Goldman
7/16/2024	$6.50 → $3.25	Underweight → Equal-Weight	Morgan Stanley
4/30/2024	$13.00 → $7.00	Buy → Hold	Craig Hallum
4/30/2024	$7.00 → $4.00	Hold → Underperform	Jefferies
3/11/2024	$9.00	Neutral	JP Morgan
2/6/2024	$9.00 → $8.50	Neutral → Underweight	Piper Sandler

SEC Form SC 13G filed by Chegg Inc.

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Recent Analyst Ratings for
$CHGG

SEC Form SC 13G filed by Chegg Inc.

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Recent Analyst Ratings for $CHGG

Recent Analyst Ratings for
$CHGG