J. Goldman & Co LP Buys New Holdings in Chegg, Inc. (NYSE:CHGG)

J. Goldman & Co LP acquired a new position in shares of Chegg, Inc. (NYSE:CHGGGet Rating) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 19,693 shares of the technology company’s stock, valued at approximately $714,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. KRS Capital Management LLC acquired a new stake in Chegg during the fourth quarter worth approximately $45,000. Meeder Asset Management Inc. acquired a new stake in Chegg during the first quarter worth approximately $48,000. Commerce Bank raised its holdings in Chegg by 14.4% during the fourth quarter. Commerce Bank now owns 6,683 shares of the technology company’s stock worth $205,000 after purchasing an additional 840 shares in the last quarter. CIBC Asset Management Inc acquired a new stake in Chegg during the first quarter worth approximately $219,000. Finally, Journey Strategic Wealth LLC acquired a new stake in Chegg during the fourth quarter worth approximately $230,000. Institutional investors and hedge funds own 95.61% of the company’s stock.

Wall Street Analyst Weigh In

CHGG has been the topic of a number of research reports. Northland Securities upgraded shares of Chegg from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $27.00 to $30.00 in a research report on Thursday. JPMorgan Chase & Co. lowered their target price on shares of Chegg from $22.00 to $18.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 29th. Piper Sandler lowered their target price on shares of Chegg from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Monday, July 18th. TheStreet upgraded shares of Chegg from a “d+” rating to a “c-” rating in a research report on Monday, August 22nd. Finally, The Goldman Sachs Group initiated coverage on shares of Chegg in a research report on Friday, July 15th. They set a “neutral” rating and a $20.00 target price on the stock. Thirteen research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $36.83.

Chegg Price Performance

Shares of NYSE CHGG opened at $23.07 on Friday. The firm has a market capitalization of $2.92 billion, a P/E ratio of 76.90, a PEG ratio of 4.95 and a beta of 1.11. Chegg, Inc. has a one year low of $15.66 and a one year high of $80.62. The company’s fifty day moving average is $20.56 and its two-hundred day moving average is $23.91. The company has a debt-to-equity ratio of 2.05, a quick ratio of 10.81 and a current ratio of 10.81.

Chegg (NYSE:CHGGGet Rating) last issued its earnings results on Thursday, August 4th. The technology company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.13 by $0.03. The company had revenue of $194.72 million for the quarter, compared to analyst estimates of $189.40 million. Chegg had a net margin of 5.69% and a return on equity of 7.93%. Analysts forecast that Chegg, Inc. will post 0.28 EPS for the current fiscal year.

Chegg Company Profile

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Chegg, Inc operates direct-to-student learning platform that supports students starting with their academic journey and extending into their careers with products and services to support and help them better understand their academic course materials. The company offers Chegg Services, which include subscription services; and required materials that comprise its print textbooks and eTextbooks.

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Institutional Ownership by Quarter for Chegg (NYSE:CHGG)

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