4,236 Shares in Chegg, Inc. (NYSE:CHGG) Bought by Headlands Technologies LLC

Headlands Technologies LLC bought a new position in Chegg, Inc. (NYSE:CHGG) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 4,236 shares of the technology company’s stock, valued at approximately $48,000.

A number of other large investors also recently modified their holdings of the company. Moors & Cabot Inc. purchased a new stake in Chegg in the 3rd quarter valued at $98,000. Shell Asset Management Co. raised its position in Chegg by 48.8% in the 3rd quarter. Shell Asset Management Co. now owns 11,423 shares of the technology company’s stock valued at $102,000 after buying an additional 3,748 shares during the last quarter. CI Investments Inc. purchased a new stake in Chegg in the 3rd quarter valued at $139,000. Sherbrooke Park Advisers LLC raised its position in Chegg by 62.7% in the 3rd quarter. Sherbrooke Park Advisers LLC now owns 16,592 shares of the technology company’s stock valued at $148,000 after buying an additional 6,392 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in Chegg by 20.7% in the 3rd quarter. Victory Capital Management Inc. now owns 20,352 shares of the technology company’s stock valued at $182,000 after buying an additional 3,486 shares during the last quarter. 95.18% of the stock is currently owned by institutional investors.

Chegg Stock Up 4.1 %

CHGG stock opened at $5.38 on Thursday. 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 company has a market capitalization of $546.45 million, a price-to-earnings ratio of -28.32, a PEG ratio of 1.39 and a beta of 1.26. Chegg, Inc. has a fifty-two week low of $4.96 and a fifty-two week high of $13.11. The stock has a fifty day moving average of $7.60 and a 200-day moving average of $9.04.

Chegg (NYSE:CHGG) last posted its quarterly earnings results on Monday, February 5th. The technology company reported $0.36 earnings per share for the quarter, hitting the consensus estimate of $0.36. The company had revenue of $187.99 million during the quarter, compared to the consensus estimate of $185.94 million. Chegg had a return on equity of 0.86% and a net margin of 2.07%. The firm’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.16 EPS. As a group, equities research analysts predict that Chegg, Inc. will post 0.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. StockNews.com raised Chegg from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. Craig Hallum reaffirmed a “hold” rating and set a $7.00 target price (down from $13.00) on shares of Chegg in a research report on Tuesday. BMO Capital Markets decreased their target price on Chegg from $11.00 to $10.00 and set a “market perform” rating for the company in a research report on Tuesday, February 6th. Piper Sandler reaffirmed an “underweight” rating and set a $6.00 target price (down from $8.50) on shares of Chegg in a research report on Tuesday. Finally, Morgan Stanley decreased their target price on Chegg from $8.50 to $7.00 and set an “underweight” rating for the company in a research report on Friday, April 19th. Five analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Chegg presently has an average rating of “Hold” and an average price target of $7.72.

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.