Chegg, Inc. (NYSE:CHGG) Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC grew its holdings in shares of Chegg, Inc. (NYSE:CHGG) by 242.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 106,993 shares of the technology company’s stock after purchasing an additional 75,751 shares during the period. SG Americas Securities LLC’s holdings in Chegg were worth $189,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC acquired a new position in Chegg during the 1st quarter valued at about $30,000. Gladius Capital Management LP purchased a new stake in shares of Chegg during the second quarter worth about $27,000. Adero Partners LLC acquired a new position in shares of Chegg during the second quarter valued at about $34,000. Entropy Technologies LP acquired a new position in shares of Chegg during the first quarter valued at about $90,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in shares of Chegg in the 2nd quarter valued at approximately $60,000. Institutional investors and hedge funds own 95.18% of the company’s stock.

Chegg Stock Performance

NYSE CHGG opened at $1.65 on Thursday. Chegg, Inc. has a fifty-two week low of $1.48 and a fifty-two week high of $11.48. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market capitalization of $168.15 million, a P/E ratio of -8.66, a PEG ratio of 0.55 and a beta of 1.31. The stock has a 50-day simple moving average of $1.85 and a two-hundred day simple moving average of $3.31.

Chegg (NYSE:CHGG) last announced its quarterly earnings results on Monday, August 5th. The technology company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.03. Chegg had a positive return on equity of 2.10% and a negative net margin of 91.74%. The company had revenue of $163.10 million during the quarter, compared to analysts’ expectations of $160.02 million. During the same period last year, the business earned $0.01 earnings per share. Chegg’s quarterly revenue was down 10.8% on a year-over-year basis. On average, equities analysts forecast that Chegg, Inc. will post 0.19 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on CHGG. Piper Sandler dropped their target price on shares of Chegg from $6.00 to $2.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 6th. StockNews.com lowered shares of Chegg from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. The Goldman Sachs Group upgraded Chegg from a “sell” rating to a “neutral” rating and reduced their target price for the stock from $7.00 to $3.75 in a research note on Tuesday, August 6th. Morgan Stanley dropped their price target on Chegg from $3.25 to $3.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 6th. Finally, Craig Hallum reduced their price objective on Chegg from $7.00 to $3.00 and set a “hold” rating for the company in a research note on Wednesday, August 7th. Three analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $5.25.

Chegg Profile

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.