Chegg, Inc. (NYSE:CHGG) Shares Acquired by California Public Employees Retirement System

California Public Employees Retirement System lifted its stake in shares of Chegg, Inc. (NYSE:CHGGGet Rating) by 1.6% during the second quarter, Holdings Channel reports. The firm owned 245,606 shares of the technology company’s stock after purchasing an additional 3,840 shares during the quarter. California Public Employees Retirement System’s holdings in Chegg were worth $4,612,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Commonwealth Equity Services LLC lifted its stake in Chegg by 61.2% during the first quarter. Commonwealth Equity Services LLC now owns 106,471 shares of the technology company’s stock valued at $3,862,000 after buying an additional 40,408 shares in the last quarter. AGF Investments LLC purchased a new stake in shares of Chegg in the 1st quarter valued at approximately $1,016,000. Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of Chegg by 42.5% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,810 shares of the technology company’s stock valued at $34,000 after acquiring an additional 540 shares in the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new position in Chegg in the 1st quarter worth approximately $18,263,000. Finally, G2 Investment Partners Management LLC grew its position in Chegg by 17.8% during the 1st quarter. G2 Investment Partners Management LLC now owns 354,501 shares of the technology company’s stock worth $12,861,000 after purchasing an additional 53,501 shares in the last quarter. 95.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CHGG has been the subject of several recent analyst reports. StockNews.com began coverage on Chegg in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Barrington Research lifted their target price on Chegg from $25.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday, November 2nd. Northland Securities increased their price target on shares of Chegg from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 2nd. TheStreet raised shares of Chegg from a “d+” rating to a “c-” rating in a research report on Monday, August 22nd. Finally, Piper Sandler increased their target price on shares of Chegg from $23.00 to $24.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 2nd. Eleven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Chegg presently has an average rating of “Hold” and an average price target of $29.00.

Chegg Price Performance

Shares of NYSE:CHGG opened at $28.56 on Friday. The stock has a market capitalization of $3.58 billion, a P/E ratio of 19.30, a P/E/G ratio of 4.55 and a beta of 0.98. The business has a 50-day moving average of $23.42 and a two-hundred day moving average of $21.12. Chegg, Inc. has a fifty-two week low of $15.66 and a fifty-two week high of $37.64. The company has a debt-to-equity ratio of 1.13, a current ratio of 7.19 and a quick ratio of 7.19.

Insider Activity at Chegg

In other Chegg news, Director Paul Leblanc sold 12,890 shares of the company’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $28.00, for a total transaction of $360,920.00. Following the completion of the sale, the director now owns 11,861 shares of the company’s stock, valued at $332,108. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.25% of the stock is owned by company insiders.

About Chegg

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Chegg, Inc operates direct-to-student learning platform that supports students starting with their academic journey and extending into their careers with products and services to support and help them better understand their academic course materials. The company offers Chegg Services, which include subscription services; and required materials that comprise its print textbooks and eTextbooks.

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Institutional Ownership by Quarter for Chegg (NYSE:CHGG)

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