Chegg, Inc. (NYSE:CHGG) Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D grew its stake in Chegg, Inc. (NYSE:CHGGGet Rating) by 27.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 106,121 shares of the technology company’s stock after purchasing an additional 22,769 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.07% of Chegg worth $3,258,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Stephens Inc. AR boosted its stake in shares of Chegg by 14.3% in the third quarter. Stephens Inc. AR now owns 1,699 shares of the technology company’s stock valued at $116,000 after buying an additional 212 shares in the last quarter. CastleArk Alternatives LLC purchased a new stake in shares of Chegg in the third quarter valued at approximately $147,000. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Chegg by 83.0% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 2,242 shares of the technology company’s stock valued at $153,000 after buying an additional 1,017 shares in the last quarter. Pearl River Capital LLC purchased a new stake in shares of Chegg in the third quarter valued at approximately $213,000. Finally, Signaturefd LLC boosted its stake in shares of Chegg by 501.9% in the fourth quarter. Signaturefd LLC now owns 3,202 shares of the technology company’s stock valued at $98,000 after buying an additional 2,670 shares in the last quarter. 87.98% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:CHGG opened at $35.20 on Monday. The firm has a market capitalization of $4.75 billion, a PE ratio of -391.07, a P/E/G ratio of 3.24 and a beta of 0.92. The company has a debt-to-equity ratio of 1.52, a current ratio of 14.19 and a quick ratio of 14.19. The business has a 50-day moving average of $31.78 and a two-hundred day moving average of $36.44. Chegg, Inc. has a 12 month low of $23.23 and a 12 month high of $96.94.

Chegg (NYSE:CHGGGet Rating) last announced its quarterly earnings results on Monday, February 7th. The technology company reported $0.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.06. The company had revenue of $207.47 million during the quarter, compared to analyst estimates of $195.20 million. Chegg had a positive return on equity of 8.17% and a negative net margin of 0.19%. The firm’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.37 earnings per share. As a group, research analysts anticipate that Chegg, Inc. will post 0.44 earnings per share for the current year.

A number of analysts have commented on the company. Craig Hallum decreased their target price on Chegg from $50.00 to $35.00 and set a “hold” rating on the stock in a research report on Tuesday, February 8th. Jefferies Financial Group decreased their target price on Chegg from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, December 13th. Piper Sandler boosted their target price on Chegg from $43.00 to $44.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 8th. StockNews.com assumed coverage on Chegg in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Zacks Investment Research upgraded Chegg from a “sell” rating to a “hold” rating in a research report on Friday, February 11th. Ten analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $66.92.

Chegg Profile (Get Rating)

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.

See Also

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Institutional Ownership by Quarter for Chegg (NYSE:CHGG)

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