Baader Bank Aktiengesellschaft Reduces Stock Holdings in Chegg, Inc. (NYSE:CHGG)

Baader Bank Aktiengesellschaft cut its holdings in Chegg, Inc. (NYSE:CHGG) by 47.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 300,573 shares of the technology company’s stock after selling 269,427 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in Chegg were worth $484,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in shares of Chegg by 10.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,585,055 shares of the technology company’s stock worth $14,488,000 after purchasing an additional 433,709 shares during the last quarter. AQR Capital Management LLC boosted its position in Chegg by 284.9% during the second quarter. AQR Capital Management LLC now owns 2,878,869 shares of the technology company’s stock worth $8,694,000 after acquiring an additional 2,130,998 shares during the last quarter. Geode Capital Management LLC grew its stake in Chegg by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,315,187 shares of the technology company’s stock worth $4,099,000 after acquiring an additional 26,574 shares during the period. Millennium Management LLC raised its holdings in Chegg by 158.4% in the 2nd quarter. Millennium Management LLC now owns 2,221,344 shares of the technology company’s stock valued at $7,019,000 after acquiring an additional 1,361,710 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Chegg by 14.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 911,333 shares of the technology company’s stock worth $1,613,000 after purchasing an additional 118,403 shares during the last quarter. 95.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CHGG has been the subject of several analyst reports. The Goldman Sachs Group dropped their target price on Chegg from $3.75 to $1.75 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Northland Securities decreased their target price on shares of Chegg from $4.00 to $3.00 and set a “market perform” rating on the stock in a research report on Wednesday, November 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of Chegg in a research report on Thursday, January 16th. Morgan Stanley reissued an “underweight” rating and set a $1.25 price objective (down from $2.00) on shares of Chegg in a research note on Tuesday, January 14th. Finally, Craig Hallum reduced their target price on Chegg from $3.00 to $1.50 and set a “hold” rating on the stock in a report on Wednesday, November 13th. Four research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.50.

Chegg Stock Down 12.4 %

NYSE CHGG opened at $1.52 on Friday. The stock has a market cap of $158.03 million, a PE ratio of -0.19 and a beta of 1.40. The business has a 50 day moving average price of $1.87 and a two-hundred day moving average price of $2.01. Chegg, Inc. has a fifty-two week low of $1.34 and a fifty-two week high of $10.29. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.31.

Chegg (NYSE:CHGG) last released its quarterly earnings results on Tuesday, November 12th. The technology company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. Chegg had a negative net margin of 124.05% and a positive return on equity of 2.36%. The business had revenue of $136.59 million during the quarter, compared to analyst estimates of $134.12 million. During the same period last year, the business earned ($0.07) EPS. The business’s revenue was down 13.5% on a year-over-year basis. As a group, sell-side analysts predict that Chegg, Inc. will post 0.12 EPS for the current fiscal year.

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.