Chegg, Inc. (NYSE:CHGG) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lessened its position in shares of Chegg, Inc. (NYSE:CHGG) by 67.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 66,647 shares of the technology company’s stock after selling 135,724 shares during the period. Federated Hermes Inc. owned about 0.06% of Chegg worth $43,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Virtus Fund Advisers LLC acquired a new position in Chegg during the 4th quarter worth approximately $28,000. Cerity Partners LLC grew its holdings in Chegg by 226.6% during the 1st quarter. Cerity Partners LLC now owns 45,208 shares of the technology company’s stock worth $29,000 after acquiring an additional 31,366 shares in the last quarter. Wealthfront Advisers LLC grew its holdings in Chegg by 586.4% during the 1st quarter. Wealthfront Advisers LLC now owns 63,885 shares of the technology company’s stock worth $41,000 after acquiring an additional 54,578 shares in the last quarter. ProShare Advisors LLC grew its holdings in Chegg by 51.2% during the 4th quarter. ProShare Advisors LLC now owns 28,360 shares of the technology company’s stock worth $46,000 after acquiring an additional 9,600 shares in the last quarter. Finally, MetLife Investment Management LLC grew its holdings in Chegg by 107.5% during the 4th quarter. MetLife Investment Management LLC now owns 36,967 shares of the technology company’s stock worth $60,000 after acquiring an additional 19,153 shares in the last quarter. Institutional investors and hedge funds own 95.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CHGG shares. Wall Street Zen started coverage on shares of Chegg in a report on Thursday, April 17th. They issued a “hold” rating for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Chegg in a research report on Monday, May 12th. Three research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $1.70.

Chegg Stock Down 3.1%

Chegg stock opened at $1.11 on Tuesday. Chegg, Inc. has a fifty-two week low of $0.44 and a fifty-two week high of $2.73. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.23 and a current ratio of 1.23. The company has a market capitalization of $117.76 million, a P/E ratio of -0.42 and a beta of 1.77. The stock has a 50-day simple moving average of $1.38 and a 200-day simple moving average of $1.08.

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.