Chegg, Inc. (NYSE:CHGG) Stock Position Decreased by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its stake in shares of Chegg, Inc. (NYSE:CHGG) by 3.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 475,211 shares of the technology company’s stock after selling 18,245 shares during the quarter. Russell Investments Group Ltd.’s holdings in Chegg were worth $5,398,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Sylebra Capital LLC bought a new stake in shares of Chegg during the 3rd quarter worth $61,286,000. Jacobs Levy Equity Management Inc. boosted its position in shares of Chegg by 14.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,663,462 shares of the technology company’s stock worth $23,758,000 after buying an additional 337,680 shares during the period. Federated Hermes Inc. boosted its position in shares of Chegg by 229.8% in the fourth quarter. Federated Hermes Inc. now owns 1,254,339 shares of the technology company’s stock worth $14,249,000 after buying an additional 873,984 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Chegg by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 898,407 shares of the technology company’s stock worth $8,014,000 after buying an additional 6,655 shares during the period. Finally, AQR Capital Management LLC boosted its position in shares of Chegg by 75.4% in the third quarter. AQR Capital Management LLC now owns 693,676 shares of the technology company’s stock worth $6,188,000 after buying an additional 298,194 shares during the period. 95.18% of the stock is owned by institutional investors.

Chegg Trading Down 0.6 %

Chegg stock opened at $4.93 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market capitalization of $503.93 million, a price-to-earnings ratio of -25.95, a PEG ratio of 0.98 and a beta of 1.35. Chegg, Inc. has a one year low of $4.87 and a one year high of $13.11. The company’s fifty day moving average price is $7.15 and its two-hundred day moving average price is $8.89.

Chegg (NYSE:CHGG) last posted its earnings results on Monday, February 5th. The technology company reported $0.36 EPS for the quarter, hitting the consensus estimate of $0.36. The firm had revenue of $187.99 million for the quarter, compared to the consensus estimate of $185.94 million. Chegg had a net margin of 2.07% and a return on equity of 0.87%. The business’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.16 earnings per share. On average, analysts forecast that Chegg, Inc. will post 0.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Piper Sandler Companies cut Chegg to an “underweight” rating and decreased their target price for the stock from $9.00 to $8.50 in a research report on Tuesday, February 6th. Piper Sandler reissued an “underweight” rating and set a $6.00 price objective (down previously from $8.50) on shares of Chegg in a research report on Tuesday, April 30th. Craig Hallum reaffirmed a “hold” rating and issued a $7.00 target price (down from $13.00) on shares of Chegg in a research report on Tuesday, April 30th. The Goldman Sachs Group reduced their price target on Chegg from $8.00 to $7.00 and set a “sell” rating for the company in a report on Tuesday, February 6th. Finally, Morgan Stanley cut their price objective on shares of Chegg from $8.50 to $7.00 and set an “underweight” rating on the stock in a research report on Friday, April 19th. Five analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $7.31.

Chegg 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.