Victory Capital Management Inc. Has $852,000 Position in Chegg, Inc. (NYSE:CHGG)

Victory Capital Management Inc. lowered its position in Chegg, Inc. (NYSE:CHGG) by 2.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 481,259 shares of the technology company’s stock after selling 14,191 shares during the period. Victory Capital Management Inc. owned 0.47% of Chegg worth $852,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its holdings in Chegg by 6.3% during 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 purchasing an additional 4,250 shares during the last quarter. Quent Capital LLC grew its holdings in Chegg by 35.0% during 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 acquired a new position in Chegg during the second quarter valued at approximately $27,000. Adero Partners LLC acquired a new position in Chegg during the second quarter valued at approximately $34,000. Finally, American Century Companies Inc. grew its holdings in Chegg by 11.2% during the second quarter. American Century Companies Inc. now owns 119,325 shares of the technology company’s stock valued at $377,000 after purchasing an additional 11,992 shares during the last quarter. Institutional investors and hedge funds own 95.18% of the company’s stock.

Chegg Price Performance

Chegg stock opened at $2.30 on Thursday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market capitalization of $239.91 million, a PE ratio of -0.28, a price-to-earnings-growth ratio of 1.24 and a beta of 1.32. Chegg, Inc. has a one year low of $1.34 and a one year high of $11.48. The business has a 50 day simple moving average of $1.71 and a 200 day simple moving average of $2.51.

Chegg (NYSE:CHGG) last posted its earnings results on Tuesday, November 12th. The technology company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.06 by $0.03. The business had revenue of $136.59 million during the quarter, compared to the consensus estimate of $134.12 million. Chegg had a positive return on equity of 2.36% and a negative net margin of 124.05%. Chegg’s revenue was down 13.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.07) EPS. On average, sell-side analysts forecast that Chegg, Inc. will post 0.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. StockNews.com downgraded shares of Chegg from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Piper Sandler decreased their price target on shares of Chegg from $2.00 to $1.50 and set an “underweight” rating on the stock in a research report on Thursday, November 14th. Northland Securities cut their price objective on shares of Chegg from $4.00 to $3.00 and set a “market perform” rating for the company in a research report on Wednesday, November 13th. The Goldman Sachs Group decreased their price objective on Chegg from $3.75 to $1.75 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Finally, Morgan Stanley decreased their price objective on Chegg from $3.25 to $3.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 6th. Three research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $4.69.

Chegg 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.