Harbor Capital Advisors Inc. Has $81,000 Stock Holdings in Chegg, Inc. (NYSE:CHGG)

Harbor Capital Advisors Inc. lessened its holdings in Chegg, Inc. (NYSE:CHGG) by 30.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,502 shares of the technology company’s stock after selling 22,207 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Chegg were worth $81,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. raised its stake in Chegg by 272.2% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 25,051 shares of the technology company’s stock worth $44,000 after buying an additional 18,320 shares during the last quarter. Intech Investment Management LLC purchased a new stake in Chegg during the third quarter valued at about $56,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Chegg in the second quarter worth about $60,000. Aspire Wealth Management Corp bought a new position in shares of Chegg in the 3rd quarter worth approximately $69,000. Finally, Royce & Associates LP purchased a new stake in Chegg during the 3rd quarter valued at about $91,000. 95.18% of the stock is currently owned by institutional investors.

Chegg Trading Up 2.7 %

NYSE CHGG opened at $1.54 on Thursday. The company has a 50-day moving average of $1.92 and a 200-day moving average of $2.11. The company has a market cap of $160.63 million, a P/E ratio of -0.19 and a beta of 1.40. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.91 and a quick ratio of 0.91. Chegg, Inc. has a 12 month low of $1.34 and a 12 month high of $11.25.

Chegg (NYSE:CHGG) last issued its quarterly earnings data on Tuesday, November 12th. The technology company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The firm had revenue of $136.59 million for the quarter, compared to analyst estimates of $134.12 million. Chegg had a negative net margin of 124.05% and a positive return on equity of 2.36%. The firm’s revenue was down 13.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.07) EPS. As a group, equities analysts predict that Chegg, Inc. will post 0.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CHGG. Morgan Stanley restated an “underweight” rating and set a $1.25 target price (down previously from $2.00) on shares of Chegg in a research report on Tuesday. Piper Sandler dropped their price objective on shares of Chegg from $2.00 to $1.50 and set an “underweight” rating on the stock in a research note on Thursday, November 14th. Craig Hallum reduced their price target 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 price target on shares of Chegg from $3.75 to $1.75 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. Finally, Northland Securities lowered their price target on shares of Chegg from $4.00 to $3.00 and set a “market perform” rating on the stock in a research report on Wednesday, November 13th. Four investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat, Chegg has a consensus rating of “Hold” and a consensus price target of $4.50.

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.