Chegg, Inc. (NYSE:CHGG) Shares Sold by US Bancorp DE

US Bancorp DE decreased its position in Chegg, Inc. (NYSE:CHGG) by 24.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,521 shares of the technology company’s stock after selling 7,964 shares during the quarter. US Bancorp DE’s holdings in Chegg were worth $43,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new stake in Chegg in the first quarter valued at approximately $30,000. Price T Rowe Associates Inc. MD raised its holdings in Chegg by 6.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 71,990 shares of the technology company’s stock valued at $545,000 after acquiring an additional 4,250 shares in the last quarter. Quent Capital LLC increased its stake in Chegg by 35.0% in the second quarter. Quent Capital LLC now owns 30,460 shares of the technology company’s stock valued at $96,000 after purchasing an additional 7,892 shares during the last quarter. Gladius Capital Management LP purchased a new position in Chegg in the second quarter valued at approximately $27,000. Finally, Adero Partners LLC purchased a new position in Chegg in the second quarter valued at approximately $34,000. Institutional investors and hedge funds own 95.18% of the company’s stock.

Chegg Price Performance

Shares of NYSE CHGG opened at $1.72 on Monday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.91 and a quick ratio of 0.89. The stock has a fifty day moving average price of $1.70 and a 200 day moving average price of $2.66. Chegg, Inc. has a 1-year low of $1.34 and a 1-year high of $11.48. The company has a market cap of $179.41 million, a PE ratio of -0.22, a P/E/G ratio of 0.61 and a beta of 1.32.

Chegg (NYSE:CHGG) last issued its quarterly earnings results on Tuesday, November 12th. The technology company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.03. Chegg had a positive return on equity of 2.36% and a negative net margin of 124.05%. The firm had revenue of $136.59 million during the quarter, compared to the consensus estimate of $134.12 million. During the same period last year, the company earned ($0.07) earnings per share. The company’s revenue for the quarter was down 13.5% on a year-over-year basis. Sell-side analysts forecast that Chegg, Inc. will post 0.19 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CHGG shares. StockNews.com lowered shares of Chegg from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. The Goldman Sachs Group dropped their price target on shares of Chegg from $3.75 to $1.75 and set a “neutral” rating on the stock in a research note on Thursday. Craig Hallum dropped their price target on shares of Chegg from $3.00 to $1.50 and set a “hold” rating on the stock in a research note on Wednesday, November 13th. Needham & Company LLC reiterated a “hold” rating on shares of Chegg in a research note on Wednesday, November 13th. Finally, Northland Securities lowered their target price on shares of Chegg from $4.00 to $3.00 and set a “market perform” rating on the stock in a research report on Wednesday, November 13th. Three investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $4.69.

About Chegg

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.