Charles Schwab Investment Management Inc. Has $1.50 Million Holdings in Chegg, Inc. (NYSE:CHGG)

Charles Schwab Investment Management Inc. boosted its stake in Chegg, Inc. (NYSE:CHGG) by 2.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 934,160 shares of the technology company’s stock after buying an additional 22,827 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.90% of Chegg worth $1,504,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Intech Investment Management LLC acquired a new position in Chegg in the third quarter valued at about $56,000. FMR LLC raised its stake in shares of Chegg by 12.5% in the third quarter. FMR LLC now owns 323,018 shares of the technology company’s stock valued at $572,000 after acquiring an additional 35,892 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Chegg by 389.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 100,774 shares of the technology company’s stock worth $178,000 after acquiring an additional 80,183 shares in the last quarter. Firsthand Capital Management Inc. grew its position in Chegg by 1,030.4% during the 3rd quarter. Firsthand Capital Management Inc. now owns 260,000 shares of the technology company’s stock worth $460,000 after acquiring an additional 237,000 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. grew its position in Chegg by 272.2% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 25,051 shares of the technology company’s stock worth $44,000 after acquiring an additional 18,320 shares during the last quarter. 95.18% of the stock is currently owned by institutional investors.

Chegg Price Performance

Shares of CHGG stock opened at $0.66 on Friday. The firm has a market cap of $69.69 million, a price-to-earnings ratio of -0.08 and a beta of 1.52. Chegg, Inc. has a 12 month low of $0.62 and a 12 month high of $7.75. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.31. The stock has a 50-day moving average price of $1.17 and a 200 day moving average price of $1.58.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Piper Sandler reduced their price objective on Chegg from $1.50 to $1.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 25th. Morgan Stanley reaffirmed an “underweight” rating and issued a $1.25 price target (down from $2.00) on shares of Chegg in a report on Tuesday, January 14th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Chegg in a report on Tuesday, February 25th. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $2.08.

About Chegg

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.