Cambridge Investment Research Advisors Inc. purchased a new position in Chegg, Inc. (NYSE:CHGG – Get Rating) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 38,790 shares of the technology company’s stock, valued at approximately $1,407,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. KRS Capital Management LLC bought a new stake in Chegg during the 4th quarter valued at about $45,000. Meeder Asset Management Inc. purchased a new stake in shares of Chegg during the first quarter valued at approximately $48,000. Commerce Bank increased its position in shares of Chegg by 14.4% during the fourth quarter. Commerce Bank now owns 6,683 shares of the technology company’s stock valued at $205,000 after acquiring an additional 840 shares in the last quarter. CIBC Asset Management Inc purchased a new position in Chegg in the 1st quarter worth approximately $219,000. Finally, Journey Strategic Wealth LLC bought a new position in Chegg in the 4th quarter valued at approximately $230,000. Hedge funds and other institutional investors own 95.61% of the company’s stock.
Chegg Trading Up 5.5 %
NYSE:CHGG opened at $21.45 on Thursday. Chegg, Inc. has a one year low of $15.66 and a one year high of $81.67. The business has a fifty day moving average price of $20.40 and a 200-day moving average price of $24.02. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of 71.50, a price-to-earnings-growth ratio of 4.43 and a beta of 1.11. The company has a debt-to-equity ratio of 2.05, a current ratio of 10.81 and a quick ratio of 10.81.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on the company. Piper Sandler decreased their price target on Chegg from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Monday, July 18th. The Goldman Sachs Group initiated coverage on shares of Chegg in a research note on Friday, July 15th. They set a “neutral” rating and a $20.00 target price on the stock. JPMorgan Chase & Co. reduced their price target on shares of Chegg from $22.00 to $18.00 and set a “neutral” rating for the company in a research note on Wednesday, June 29th. Finally, TheStreet raised shares of Chegg from a “d+” rating to a “c-” rating in a report on Monday, August 22nd. Fourteen analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Chegg presently has a consensus rating of “Hold” and a consensus target price of $36.58.
Chegg Company Profile
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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