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

Norges Bank acquired a new position in Chegg, Inc. (NYSE:CHGGFree Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 719,000 shares of the technology company’s stock, valued at approximately $8,168,000. Norges Bank owned approximately 0.62% of Chegg as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Headlands Technologies LLC bought a new position in Chegg in the fourth quarter worth approximately $48,000. Moors & Cabot Inc. purchased a new stake in Chegg during the third quarter worth $98,000. Shell Asset Management Co. boosted its position in Chegg by 48.8% during the 3rd quarter. Shell Asset Management Co. now owns 11,423 shares of the technology company’s stock valued at $102,000 after acquiring an additional 3,748 shares in the last quarter. CI Investments Inc. purchased a new position in shares of Chegg in the 3rd quarter valued at $139,000. Finally, Sherbrooke Park Advisers LLC raised its position in shares of Chegg by 62.7% in the 3rd quarter. Sherbrooke Park Advisers LLC now owns 16,592 shares of the technology company’s stock worth $148,000 after acquiring an additional 6,392 shares in the last quarter. Institutional investors own 95.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Needham & Company LLC restated a “hold” rating on shares of Chegg in a research note on Tuesday, April 30th. Morgan Stanley decreased their price objective on Chegg from $8.50 to $7.00 and set an “underweight” rating for the company in a research note on Friday, April 19th. Piper Sandler restated an “underweight” rating and set a $6.00 price objective (down from $8.50) on shares of Chegg in a research note on Tuesday, April 30th. Jefferies Financial Group cut Chegg from a “hold” rating to an “underperform” rating and decreased their price objective for the stock from $7.00 to $4.00 in a research note on Tuesday, April 30th. Finally, Craig Hallum restated a “hold” rating and set a $7.00 price objective (down from $13.00) on shares of Chegg in a research note on Tuesday, April 30th. Five investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $7.31.

View Our Latest Research Report on Chegg

Chegg Trading Up 1.8 %

Chegg stock opened at $3.75 on Friday. The stock has a 50-day moving average of $5.64 and a two-hundred day moving average of $8.28. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.92 and a current ratio of 0.92. Chegg, Inc. has a one year low of $3.51 and a one year high of $13.11. The stock has a market cap of $382.80 million, a PE ratio of -19.71, a price-to-earnings-growth ratio of 0.68 and a beta of 1.37.

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

About Chegg

(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

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.