Baader Bank Aktiengesellschaft Sells 269,427 Shares of Chegg, Inc. (NYSE:CHGG)

Baader Bank Aktiengesellschaft reduced its holdings in Chegg, Inc. (NYSE:CHGG) by 47.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 300,573 shares of the technology company’s stock after selling 269,427 shares during the quarter. Baader Bank Aktiengesellschaft owned about 0.29% of Chegg worth $484,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in CHGG. American Century Companies Inc. raised its position in shares of Chegg by 11.2% in the 2nd quarter. American Century Companies Inc. now owns 119,325 shares of the technology company’s stock worth $377,000 after purchasing an additional 11,992 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Chegg by 10.4% in the second quarter. Dimensional Fund Advisors LP now owns 4,585,055 shares of the technology company’s stock worth $14,488,000 after buying an additional 433,709 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Chegg by 44.5% in the second quarter. Renaissance Technologies LLC now owns 682,200 shares of the technology company’s stock worth $2,156,000 after buying an additional 210,191 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Chegg by 761.1% during the second quarter. Sei Investments Co. now owns 88,448 shares of the technology company’s stock valued at $279,000 after buying an additional 78,177 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in Chegg by 284.9% in the 2nd 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. 95.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CHGG shares. Needham & Company LLC reissued a “hold” rating on shares of Chegg in a research report on Thursday, January 16th. The Goldman Sachs Group dropped their target price on shares of Chegg from $3.75 to $1.75 and set a “neutral” rating on the stock in a report 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 for the company in a research note on Wednesday, November 13th. Craig Hallum dropped their price target on Chegg from $3.00 to $1.50 and set a “hold” rating on the stock in a research note on Wednesday, November 13th. Finally, Morgan Stanley reiterated an “underweight” rating and set a $1.25 price objective (down previously from $2.00) on shares of Chegg in a research report on Tuesday, January 14th. Four investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $4.50.

Chegg Price Performance

Shares of CHGG opened at $1.52 on Friday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.91 and a current ratio of 0.91. The business’s 50-day moving average is $1.87 and its two-hundred day moving average is $2.01. The company has a market capitalization of $158.03 million, a P/E ratio of -0.19 and a beta of 1.40. Chegg, Inc. has a fifty-two week low of $1.34 and a fifty-two week high of $10.29.

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