UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $332,000 Position in Chegg, Inc. (NYSE:CHGG)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in shares of Chegg, Inc. (NYSE:CHGG) by 95.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 187,643 shares of the technology company’s stock after selling 4,096,455 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.18% of Chegg worth $332,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CHGG. Millennium Management LLC raised its position in shares of Chegg by 158.4% in the 2nd quarter. Millennium Management LLC now owns 2,221,344 shares of the technology company’s stock valued at $7,019,000 after acquiring an additional 1,361,710 shares during the period. AQR Capital Management LLC boosted its position in shares of Chegg by 284.9% during the second quarter. AQR Capital Management LLC now owns 2,878,869 shares of the technology company’s stock worth $8,694,000 after buying an additional 2,130,998 shares during the period. Charles Schwab Investment Management Inc. grew its position in Chegg by 14.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 911,333 shares of the technology company’s stock valued at $1,613,000 after purchasing an additional 118,403 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Chegg by 389.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 100,774 shares of the technology company’s stock worth $178,000 after purchasing an additional 80,183 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Chegg by 242.5% in the 3rd quarter. SG Americas Securities LLC now owns 106,993 shares of the technology company’s stock valued at $189,000 after purchasing an additional 75,751 shares during the period. 95.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Craig Hallum cut their price objective on shares of Chegg from $3.00 to $1.50 and set a “hold” rating for the company in a research report on Wednesday, November 13th. The Goldman Sachs Group lowered their target price on Chegg from $3.75 to $1.75 and set a “neutral” rating for the company in a report on Thursday, November 14th. Northland Securities cut their price objective 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, Piper Sandler reduced their price objective on Chegg from $2.00 to $1.50 and set an “underweight” rating for the company in a research note on Thursday, November 14th. Three analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $4.69.

Chegg Price Performance

Chegg stock opened at $1.77 on Friday. The company’s 50 day moving average price is $1.92 and its two-hundred day moving average price is $2.31. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.31. Chegg, Inc. has a 52 week low of $1.34 and a 52 week high of $11.48. The stock has a market cap of $184.62 million, a P/E ratio of -0.22 and a beta of 1.36.

Chegg (NYSE:CHGG) last released its earnings results on Tuesday, November 12th. The technology company reported $0.09 earnings per share 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 the consensus estimate 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 was down 13.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.07) EPS. On average, equities analysts predict that Chegg, Inc. will post 0.12 earnings per share for the current year.

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.