Chegg, Inc. (NYSE:CHGG) Shares Purchased by Vontobel Holding Ltd.

Vontobel Holding Ltd. boosted its position in shares of Chegg, Inc. (NYSE:CHGG) by 8.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 55,128 shares of the technology company’s stock after acquiring an additional 4,240 shares during the period. Vontobel Holding Ltd.’s holdings in Chegg were worth $626,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CHGG. Sylebra Capital LLC acquired a new position in shares of Chegg during the third quarter worth $61,286,000. Trexquant Investment LP acquired a new position in shares of Chegg during the 3rd quarter worth about $3,907,000. Algert Global LLC boosted its position in shares of Chegg by 479.9% during the 3rd quarter. Algert Global LLC now owns 409,714 shares of the technology company’s stock worth $3,655,000 after acquiring an additional 339,056 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Chegg by 14.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,663,462 shares of the technology company’s stock valued at $23,758,000 after acquiring an additional 337,680 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Chegg by 75.4% during the 3rd quarter. AQR Capital Management LLC now owns 693,676 shares of the technology company’s stock worth $6,188,000 after acquiring an additional 298,194 shares in the last quarter. 95.18% of the stock is owned by hedge funds and other institutional investors.

Chegg Price Performance

CHGG stock opened at $6.82 on Tuesday. The stock has a market capitalization of $702.12 million, a price-to-earnings ratio of -42.63, a price-to-earnings-growth ratio of 1.38 and a beta of 1.26. The stock’s fifty day simple moving average is $7.94 and its 200-day simple moving average is $9.13. Chegg, Inc. has a 52-week low of $6.63 and a 52-week high of $18.71. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.26.

Chegg (NYSE:CHGG) last issued its quarterly earnings results on Monday, February 5th. The technology company reported $0.36 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.36. Chegg had a return on equity of 1.27% and a net margin of 2.54%. The firm had revenue of $187.99 million for the quarter, compared to analyst estimates of $185.94 million. During the same period last year, the company earned $0.16 EPS. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. Equities research analysts expect that Chegg, Inc. will post 0.26 EPS for the current year.

Analyst Ratings Changes

CHGG has been the topic of a number of research analyst reports. Piper Sandler Companies cut shares of Chegg to an “underweight” rating and cut their price objective for the stock from $9.00 to $8.50 in a report on Tuesday, February 6th. Piper Sandler cut shares of Chegg from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $9.00 to $8.50 in a research note on Tuesday, February 6th. Morgan Stanley cut their price target on shares of Chegg from $8.50 to $7.00 and set an “underweight” rating for the company in a report on Friday. The Goldman Sachs Group dropped their target price on shares of Chegg from $8.00 to $7.00 and set a “sell” rating for the company in a report on Tuesday, February 6th. Finally, StockNews.com raised Chegg from a “hold” rating to a “buy” rating in a research note on Tuesday, January 23rd. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Chegg presently has an average rating of “Hold” and an average price target of $10.00.

Chegg 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.