State of Wyoming Has $48,000 Stake in Chegg, Inc. $CHGG

State of Wyoming decreased its position in Chegg, Inc. (NYSE:CHGG) by 50.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 75,365 shares of the technology company’s stock after selling 77,921 shares during the period. State of Wyoming owned about 0.07% of Chegg worth $48,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. boosted its stake in Chegg by 54.0% in the 4th quarter. Ameriprise Financial Inc. now owns 266,655 shares of the technology company’s stock worth $429,000 after purchasing an additional 93,528 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Chegg by 78.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,670,399 shares of the technology company’s stock worth $1,068,000 after purchasing an additional 736,239 shares during the period. Millennium Management LLC boosted its stake in Chegg by 35.7% in the 4th quarter. Millennium Management LLC now owns 1,874,158 shares of the technology company’s stock worth $3,017,000 after purchasing an additional 492,902 shares during the period. ProShare Advisors LLC boosted its stake in Chegg by 51.2% in the 4th quarter. ProShare Advisors LLC now owns 28,360 shares of the technology company’s stock worth $46,000 after purchasing an additional 9,600 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its stake in Chegg by 54.7% in the 4th quarter. Public Employees Retirement System of Ohio now owns 99,256 shares of the technology company’s stock worth $160,000 after purchasing an additional 35,100 shares during the period. Institutional investors and hedge funds own 95.18% of the company’s stock.

Chegg Stock Performance

Shares of Chegg stock opened at $1.56 on Wednesday. The firm’s 50-day simple moving average is $1.36 and its 200-day simple moving average is $1.06. Chegg, Inc. has a twelve month low of $0.44 and a twelve month high of $2.73. The firm has a market cap of $168.99 million, a P/E ratio of -0.60 and a beta of 1.85.

Analyst Ratings Changes

Separately, Zacks Research upgraded shares of Chegg from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $1.70.

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.