31,242 Shares in Chegg, Inc. (NYSE:CHGG) Bought by SG Americas Securities LLC

SG Americas Securities LLC purchased a new stake in Chegg, Inc. (NYSE:CHGG) during the second quarter, Holdings Channel reports. The institutional investor purchased 31,242 shares of the technology company’s stock, valued at approximately $99,000.

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Chegg by 7.5% during the fourth quarter. Vanguard Group Inc. now owns 11,630,011 shares of the technology company’s stock worth $132,117,000 after buying an additional 809,530 shares during the period. Jacobs Levy Equity Management Inc. increased its position in shares of Chegg by 4.0% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 2,747,406 shares of the technology company’s stock valued at $20,798,000 after purchasing an additional 105,511 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Chegg by 39.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,648,182 shares of the technology company’s stock valued at $30,084,000 after purchasing an additional 750,677 shares in the last quarter. Boston Partners purchased a new stake in shares of Chegg during the 4th quarter worth $12,091,000. Finally, Norges Bank acquired a new position in shares of Chegg during the fourth quarter worth $8,168,000. Institutional investors and hedge funds own 95.18% of the company’s stock.

Chegg Trading Up 2.9 %

Shares of Chegg stock opened at $2.29 on Tuesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market capitalization of $233.57 million, a P/E ratio of -12.03, a PEG ratio of 0.56 and a beta of 1.35. Chegg, Inc. has a 1 year low of $1.95 and a 1 year high of $11.48. The company’s fifty day moving average is $2.81 and its two-hundred day moving average is $5.17.

Chegg (NYSE:CHGG) last released its quarterly earnings results on Monday, August 5th. The technology company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.03. The firm had revenue of $163.10 million for the quarter, compared to analyst estimates of $160.02 million. Chegg had a return on equity of 0.87% and a net margin of 2.07%. The business’s revenue was down 10.8% on a year-over-year basis. During the same quarter last year, the company posted $0.01 earnings per share. Analysts forecast that Chegg, Inc. will post 0.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CHGG shares. Craig Hallum decreased their price target on Chegg from $7.00 to $3.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Chegg in a report on Tuesday, August 6th. The Goldman Sachs Group upgraded shares of Chegg from a “sell” rating to a “neutral” rating and dropped their price target for the company from $7.00 to $3.75 in a research note on Tuesday, August 6th. Piper Sandler reduced their price objective on shares of Chegg from $6.00 to $2.00 and set an “underweight” rating for the company in a research report on Tuesday, August 6th. Finally, Morgan Stanley dropped their target price on shares of Chegg from $3.25 to $3.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 6th. Three analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $5.47.

About Chegg

Chegg, Inc operates a direct-to-student learning platform that helps learners build essential life and job skills to accelerate their path from learning programs in the United States and internationally. Its subscription services include Chegg Study, which offers personalized step-by-step learning support from AI, computational engines, and subject matter experts, as well as Tinger Gold and DashPash Student services; Chegg Writing that provides students with a suite of tools, such as plagiarism detection scans, grammar and writing fluency checking, expert personalized writing feedback, and premium citation generation; Chegg Math, a step-by-step math problem solver and calculator that helps students to solve problems; Chegg Study Pack, a bundle of various subscription product offerings, including Chegg Study, Chegg Writing, and Chegg Math services; and Busuu, an online language learning platform that offers comprehensive support through self-paced lessons, live classes with expert tutors, and a community of members to practice alongside.