Vanguard Group Inc. Has $15.72 Million Stock Position in Chegg, Inc. (NYSE:CHGG)

Vanguard Group Inc. lifted its holdings in Chegg, Inc. (NYSE:CHGG) by 1.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,765,268 shares of the technology company’s stock after acquiring an additional 180,258 shares during the period. Vanguard Group Inc. owned approximately 9.36% of Chegg worth $15,722,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Caprock Group LLC acquired a new position in Chegg during the 4th quarter valued at about $28,000. Pallas Capital Advisors LLC grew its stake in shares of Chegg by 60.5% during the 4th quarter. Pallas Capital Advisors LLC now owns 17,659 shares of the technology company’s stock worth $28,000 after acquiring an additional 6,658 shares during the period. Ieq Capital LLC purchased a new position in Chegg in the 4th quarter valued at approximately $31,000. Intech Investment Management LLC boosted its stake in Chegg by 30.1% in the 4th quarter. Intech Investment Management LLC now owns 41,164 shares of the technology company’s stock worth $66,000 after purchasing an additional 9,514 shares during the period. Finally, Private Advisor Group LLC purchased a new stake in Chegg in the 4th quarter worth approximately $82,000. Institutional investors and hedge funds own 95.18% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. StockNews.com assumed coverage on shares of Chegg in a research report on Thursday. They set a “hold” rating on the stock. Needham & Company LLC restated a “hold” rating on shares of Chegg in a report on Tuesday, February 25th. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Chegg in a research report on Tuesday, April 8th. Morgan Stanley reaffirmed an “underweight” rating and issued a $1.25 target price (down from $2.00) on shares of Chegg in a report on Tuesday, January 14th. Finally, Piper Sandler reduced their price target on shares of Chegg from $1.50 to $1.00 and set an “underweight” rating for the company in a research note on Tuesday, February 25th. Four analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $2.08.

Chegg Price Performance

NYSE:CHGG opened at $0.51 on Friday. The business’s 50-day simple moving average is $0.86 and its two-hundred day simple moving average is $1.45. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.31. Chegg, Inc. has a 52 week low of $0.44 and a 52 week high of $7.26. The stock has a market cap of $53.08 million, a PE ratio of -0.06 and a beta of 1.81.

Chegg Company 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.