Charles Schwab Investment Management Inc. Has $1.50 Million Position in Chegg, Inc. (NYSE:CHGG)

Charles Schwab Investment Management Inc. grew its stake in Chegg, Inc. (NYSE:CHGG) by 2.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 934,160 shares of the technology company’s stock after acquiring an additional 22,827 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Chegg were worth $1,504,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CHGG. XTX Topco Ltd grew its stake in Chegg by 384.4% in the third quarter. XTX Topco Ltd now owns 394,152 shares of the technology company’s stock valued at $698,000 after acquiring an additional 312,780 shares during the period. Firsthand Capital Management Inc. lifted its holdings in shares of Chegg by 1,030.4% during the 3rd quarter. Firsthand Capital Management Inc. now owns 260,000 shares of the technology company’s stock valued at $460,000 after purchasing an additional 237,000 shares in the last quarter. Schechter Investment Advisors LLC acquired a new position in shares of Chegg in the 4th quarter valued at approximately $161,000. BNP Paribas Financial Markets increased its stake in Chegg by 389.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 100,774 shares of the technology company’s stock worth $178,000 after purchasing an additional 80,183 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in Chegg during the 3rd quarter worth approximately $130,000. 95.18% of the stock is currently owned by institutional investors and hedge funds.

Chegg Price Performance

NYSE CHGG opened at $0.66 on Friday. The firm’s 50 day moving average is $1.17 and its 200-day moving average is $1.58. 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 market capitalization of $69.69 million, a PE ratio of -0.08 and a beta of 1.52. Chegg, Inc. has a 12-month low of $0.62 and a 12-month high of $7.75.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Piper Sandler cut their price target on shares of Chegg from $1.50 to $1.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 25th. Needham & Company LLC restated a “hold” rating on shares of Chegg in a report on Tuesday, February 25th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $1.25 target price (down from $2.00) on shares of Chegg in a research note on Tuesday, January 14th. Three analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat, the company has a consensus 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.