Vanguard Group Inc. Purchases 180,258 Shares of Chegg, Inc. (NYSE:CHGG)

Vanguard Group Inc. increased its stake in shares of Chegg, Inc. (NYSE:CHGG) by 1.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 9,765,268 shares of the technology company’s stock after purchasing an additional 180,258 shares during the quarter. Vanguard Group Inc. owned 0.09% of Chegg worth $15,722,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CHGG. Pallas Capital Advisors LLC grew its position in shares of Chegg by 60.5% during the 4th quarter. Pallas Capital Advisors LLC now owns 17,659 shares of the technology company’s stock worth $28,000 after buying an additional 6,658 shares in the last quarter. Intech Investment Management LLC boosted its position in Chegg by 30.1% in the fourth quarter. Intech Investment Management LLC now owns 41,164 shares of the technology company’s stock valued at $66,000 after buying an additional 9,514 shares during the last quarter. Caprock Group LLC purchased a new stake in Chegg in the fourth quarter valued at $28,000. Empowered Funds LLC boosted its position in Chegg by 5.1% in the 4th quarter. Empowered Funds LLC now owns 391,294 shares of the technology company’s stock worth $630,000 after purchasing an additional 18,860 shares in the last quarter. Finally, Ieq Capital LLC purchased a new position in shares of Chegg in the 4th quarter valued at about $31,000. 95.18% of the stock is owned by hedge funds and other institutional investors.

Chegg Price Performance

Shares of NYSE:CHGG opened at $0.51 on Friday. Chegg, Inc. has a 52 week low of $0.44 and a 52 week high of $7.26. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.31. The company has a 50-day moving average price of $0.86 and a 200 day moving average price of $1.45. The company has a market cap of $53.08 million, a P/E ratio of -0.06 and a beta of 1.81.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. StockNews.com assumed coverage on Chegg in a research report on Thursday. They issued a “hold” rating on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Chegg in a report on Tuesday, February 25th. Morgan Stanley restated an “underweight” rating and set a $1.25 price target (down previously from $2.00) on shares of Chegg in a report on Tuesday, January 14th. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Chegg in a report on Tuesday, April 8th. Finally, Piper Sandler dropped their price objective on Chegg from $1.50 to $1.00 and set an “underweight” rating on the stock in a report on Tuesday, February 25th. Four research analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $2.08.

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.