Ghe LLC Sells 30,659 Shares of Chegg, Inc. (NYSE:CHGG)

Ghe LLC reduced its holdings in Chegg, Inc. (NYSE:CHGG) by 60.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,858 shares of the technology company’s stock after selling 30,659 shares during the period. Ghe LLC’s holdings in Chegg were worth $226,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Moors & Cabot Inc. bought a new position in Chegg in the 3rd quarter worth approximately $98,000. Shell Asset Management Co. raised its position in shares of Chegg by 48.8% during the third quarter. Shell Asset Management Co. now owns 11,423 shares of the technology company’s stock worth $102,000 after acquiring an additional 3,748 shares during the last quarter. CI Investments Inc. bought a new stake in Chegg in the third quarter valued at about $139,000. Sherbrooke Park Advisers LLC increased its holdings in Chegg by 62.7% in the third quarter. Sherbrooke Park Advisers LLC now owns 16,592 shares of the technology company’s stock valued at $148,000 after purchasing an additional 6,392 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Chegg by 20.7% in the third quarter. Victory Capital Management Inc. now owns 20,352 shares of the technology company’s stock worth $182,000 after acquiring an additional 3,486 shares in the last quarter. 95.18% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on CHGG. Morgan Stanley reduced their price objective on Chegg from $8.50 to $7.00 and set an “underweight” rating for the company in a research report on Friday, April 19th. The Goldman Sachs Group cut their price objective on Chegg from $8.00 to $7.00 and set a “sell” rating on the stock in a report on Tuesday, February 6th. Piper Sandler downgraded Chegg from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $9.00 to $8.50 in a report on Tuesday, February 6th. JPMorgan Chase & Co. lowered their price objective on Chegg from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Tuesday, February 6th. Finally, BMO Capital Markets dropped their price target on Chegg from $11.00 to $10.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 6th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Chegg has a consensus rating of “Hold” and an average target price of $10.00.

Chegg Stock Down 0.4 %

Shares of Chegg stock traded down $0.03 on Wednesday, hitting $6.81. The company had a trading volume of 2,097,929 shares, compared to its average volume of 2,649,776. The stock has a market capitalization of $691.18 million, a price-to-earnings ratio of -42.50, a P/E/G ratio of 1.33 and a beta of 1.26. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a 50 day moving average of $7.91 and a 200-day moving average of $9.12. Chegg, Inc. has a 1 year low of $6.63 and a 1 year high of $18.71.

Chegg (NYSE:CHGG) last released its earnings results on Monday, February 5th. The technology company reported $0.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.36. The company had revenue of $187.99 million during the quarter, compared to analyst estimates of $185.94 million. Chegg had a return on equity of 1.27% and a net margin of 2.54%. Chegg’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.16 earnings per share. As a group, sell-side analysts forecast that Chegg, Inc. will post 0.26 earnings per share for the current year.

Chegg Company 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.