719,000 Shares in Chegg, Inc. (NYSE:CHGG) Bought by Norges Bank

Norges Bank acquired a new position in shares of Chegg, Inc. (NYSE:CHGGFree Report) in the 4th quarter, HoldingsChannel reports. The fund acquired 719,000 shares of the technology company’s stock, valued at approximately $8,168,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Jump Financial LLC boosted its position in shares of Chegg by 64.8% during the 4th quarter. Jump Financial LLC now owns 48,200 shares of the technology company’s stock worth $548,000 after acquiring an additional 18,944 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Chegg by 221.5% during the 4th quarter. BNP Paribas Financial Markets now owns 572,918 shares of the technology company’s stock worth $6,508,000 after acquiring an additional 394,714 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Chegg by 39.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,648,182 shares of the technology company’s stock worth $30,084,000 after acquiring an additional 750,677 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Chegg by 30.0% during the 4th quarter. Principal Financial Group Inc. now owns 89,569 shares of the technology company’s stock worth $1,018,000 after acquiring an additional 20,682 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of Chegg by 185.5% during the 3rd quarter. Acadian Asset Management LLC now owns 294,208 shares of the technology company’s stock worth $2,621,000 after acquiring an additional 191,165 shares in the last quarter. 95.18% of the stock is owned by institutional investors and hedge funds.

Chegg Stock Up 1.8 %

CHGG opened at $3.75 on Friday. The business has a 50 day moving average price of $5.64 and a two-hundred day moving average price of $8.28. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.25. The company has a market cap of $382.80 million, a PE ratio of -19.71, a P/E/G ratio of 0.68 and a beta of 1.37. Chegg, Inc. has a 52 week low of $3.51 and a 52 week high of $13.11.

Chegg (NYSE:CHGGGet Free Report) last posted its quarterly earnings data on Monday, April 29th. The technology company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.03). The company had revenue of $174.35 million for the quarter, compared to analysts’ expectations of $174.05 million. Chegg had a net margin of 2.07% and a return on equity of 0.87%. As a group, research analysts anticipate that Chegg, Inc. will post 0.27 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CHGG shares. Craig Hallum reaffirmed a “hold” rating and set a $7.00 price objective (down from $13.00) on shares of Chegg in a research report on Tuesday, April 30th. Piper Sandler reissued an “underweight” rating and issued a $6.00 target price (down from $8.50) on shares of Chegg in a report on Tuesday, April 30th. Morgan Stanley reduced their target price on Chegg from $8.50 to $7.00 and set an “underweight” rating for the company in a report on Friday, April 19th. Jefferies Financial Group downgraded Chegg from a “hold” rating to an “underperform” rating and reduced their target price for the company from $7.00 to $4.00 in a report on Tuesday, April 30th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Chegg in a report on Tuesday, April 30th. Five equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $7.31.

Read Our Latest Report on Chegg

Chegg Company Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding CHGG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chegg, Inc. (NYSE:CHGGFree Report).

Institutional Ownership by Quarter for Chegg (NYSE:CHGG)

Receive News & Ratings for Chegg Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chegg and related companies with MarketBeat.com's FREE daily email newsletter.