Intech Investment Management LLC Buys New Position in Chegg, Inc. (NYSE:CHGG)

Intech Investment Management LLC purchased a new position in Chegg, Inc. (NYSE:CHGG) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 31,650 shares of the technology company’s stock, valued at approximately $56,000.

A number of other large investors also recently modified their holdings of CHGG. Gladius Capital Management LP acquired a new position in shares of Chegg during the second quarter valued at about $27,000. Adero Partners LLC bought a new position in shares of Chegg during the second quarter valued at $34,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Chegg during the second quarter worth approximately $60,000. Aspire Wealth Management Corp acquired a new stake in Chegg during the 3rd quarter valued at $69,000. Finally, Royce & Associates LP acquired a new position in Chegg in the third quarter worth $91,000. 95.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CHGG shares. Piper Sandler dropped their target price on Chegg from $2.00 to $1.50 and set an “underweight” rating for the company in a research report on Thursday, November 14th. Craig Hallum decreased their price objective on Chegg from $3.00 to $1.50 and set a “hold” rating for the company in a research note on Wednesday, November 13th. Northland Securities cut their target price on Chegg from $4.00 to $3.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 13th. Needham & Company LLC restated a “hold” rating on shares of Chegg in a report on Wednesday, November 13th. Finally, The Goldman Sachs Group decreased their target price on Chegg from $3.75 to $1.75 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Three equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat.com, Chegg presently has a consensus rating of “Hold” and a consensus price target of $4.69.

Chegg Stock Down 2.0 %

CHGG stock opened at $2.40 on Monday. Chegg, Inc. has a twelve month low of $1.34 and a twelve month high of $11.48. The company has a market cap of $250.34 million, a price-to-earnings ratio of -0.30 and a beta of 1.36. 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 business has a 50 day moving average price of $1.81 and a two-hundred day moving average price of $2.40.

Chegg (NYSE:CHGG) last announced its quarterly earnings results on Tuesday, November 12th. The technology company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. The firm had revenue of $136.59 million during the quarter, compared to analysts’ expectations of $134.12 million. Chegg had a negative net margin of 124.05% and a positive return on equity of 2.36%. The company’s revenue for the quarter was down 13.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.07) earnings per share. Analysts anticipate that Chegg, Inc. will post 0.12 EPS for the current fiscal year.

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.