Private Advisor Group LLC Invests $82,000 in Chegg, Inc. (NYSE:CHGG)

Private Advisor Group LLC bought a new position in Chegg, Inc. (NYSE:CHGG) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 50,983 shares of the technology company’s stock, valued at approximately $82,000.

Several other institutional investors have also made changes to their positions in the company. Pallas Capital Advisors LLC increased its position in shares of Chegg by 60.5% in the fourth quarter. Pallas Capital Advisors LLC now owns 17,659 shares of the technology company’s stock worth $28,000 after acquiring an additional 6,658 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in Chegg by 26.4% during the third quarter. Harbor Capital Advisors Inc. now owns 72,709 shares of the technology company’s stock valued at $129,000 after purchasing an additional 15,180 shares in the last quarter. Caprock Group LLC acquired a new stake in Chegg in the fourth quarter valued at approximately $28,000. Point72 Asia Singapore Pte. Ltd. lifted its stake in Chegg by 272.2% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 25,051 shares of the technology company’s stock valued at $44,000 after acquiring an additional 18,320 shares during the last quarter. Finally, Empowered Funds LLC lifted its stake in Chegg by 5.1% in the fourth quarter. Empowered Funds LLC now owns 391,294 shares of the technology company’s stock valued at $630,000 after acquiring an additional 18,860 shares during the last quarter. 95.18% of the stock is owned by hedge funds and other institutional investors.

Chegg Stock Up 1.8 %

CHGG opened at $0.87 on Friday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.91 and a current ratio of 0.91. Chegg, Inc. has a fifty-two week low of $0.80 and a fifty-two week high of $8.41. The company has a market capitalization of $91.76 million, a P/E ratio of -0.11 and a beta of 1.41. The stock has a fifty day moving average of $1.45 and a 200-day moving average of $1.74.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Morgan Stanley restated an “underweight” rating and issued a $1.25 price objective (down from $2.00) on shares of Chegg in a research note on Tuesday, January 14th. Craig Hallum cut their target price on shares of 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 shares of Chegg from $4.00 to $3.00 and set a “market perform” rating for the company in a research note 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 report on Thursday, November 14th. Finally, Piper Sandler lowered their target price on shares of Chegg from $1.50 to $1.00 and set an “underweight” rating on the stock in a report on Tuesday, February 25th. Three analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price 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.