DekaBank Deutsche Girozentrale lessened its position in shares of Chegg, Inc. (NYSE:CHGG – Free Report) by 94.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,245 shares of the technology company’s stock after selling 100,000 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Chegg were worth $55,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Chegg by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 11,766,644 shares of the technology company’s stock worth $247,923,000 after purchasing an additional 179,401 shares during the period. Sands Capital Management LLC raised its position in shares of Chegg by 42.0% during the 1st quarter. Sands Capital Management LLC now owns 7,738,094 shares of the technology company’s stock worth $126,131,000 after purchasing an additional 2,288,020 shares during the period. Sylebra Capital Ltd raised its position in shares of Chegg by 301.6% during the 1st quarter. Sylebra Capital Ltd now owns 3,662,649 shares of the technology company’s stock worth $59,701,000 after purchasing an additional 2,750,725 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Chegg by 81.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,940,001 shares of the technology company’s stock worth $47,922,000 after purchasing an additional 1,320,462 shares during the period. Finally, Clearbridge Investments LLC raised its position in shares of Chegg by 8.5% during the 1st quarter. Clearbridge Investments LLC now owns 2,890,786 shares of the technology company’s stock worth $47,120,000 after purchasing an additional 227,106 shares during the period. Institutional investors own 97.15% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts recently commented on the company. BMO Capital Markets raised their target price on Chegg from $10.00 to $12.00 and gave the company a “market perform” rating in a research report on Wednesday, August 9th. JPMorgan Chase & Co. raised their target price on Chegg from $12.00 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, August 8th. Piper Sandler raised their target price on Chegg from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Tuesday, August 8th. Morgan Stanley raised their target price on Chegg from $12.00 to $13.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 8th. Finally, StockNews.com began coverage on Chegg in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Eleven research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $17.83.
Chegg Stock Performance
CHGG opened at $8.44 on Wednesday. The firm has a market cap of $972.73 million, a PE ratio of 7.33, a P/E/G ratio of 2.42 and a beta of 1.14. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 0.74. The business has a fifty day simple moving average of $9.53 and a 200-day simple moving average of $10.78. Chegg, Inc. has a fifty-two week low of $8.08 and a fifty-two week high of $30.05.
Chegg (NYSE:CHGG – Get Free Report) last released its quarterly earnings data on Monday, August 7th. The technology company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01). The company had revenue of $182.85 million for the quarter, compared to the consensus estimate of $176.19 million. Chegg had a return on equity of 2.48% and a net margin of 37.85%. As a group, equities analysts predict that Chegg, Inc. will post 0.28 EPS for the current fiscal year.
Chegg Profile
Chegg, Inc operates direct-to-student learning platform that supports students starting with their academic journey and extending into their careers with products and services to support learner with their academic course materials. The company offers Chegg Services, which include subscription services; and skills and other, including skills, advertising services, print textbooks, and eTextbooks.
Featured Stories
- Five stocks we like better than Chegg
- How to Find Undervalued Stocks
- Analysts Recommend These Stocks To Cushion The Automotive Slump
- What is a Stock Market Index and How Do You Use Them?
- Hyatt Hotels Earning Analysts Love, Buy The Dip?
- Investing in Blue-Chip Stocks
- Business is Good for Lockheed Martin; Shares are Ready to Soar.
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.
