Aspire Wealth Management Corp Purchases New Position in Chegg, Inc. (NYSE:CHGG)

Aspire Wealth Management Corp acquired a new position in Chegg, Inc. (NYSE:CHGG) during the third quarter, HoldingsChannel reports. The institutional investor acquired 38,795 shares of the technology company’s stock, valued at approximately $69,000.

Other hedge funds have also modified their holdings of the company. Gladius Capital Management LP purchased a new stake in shares of Chegg in the second quarter valued at $27,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Chegg during the first quarter valued at approximately $30,000. Adero Partners LLC bought a new position in shares of Chegg during the second quarter valued at approximately $34,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Chegg in the second quarter worth approximately $60,000. Finally, Entropy Technologies LP bought a new stake in shares of Chegg during the 1st quarter worth approximately $90,000. 95.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on CHGG. StockNews.com lowered Chegg from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Piper Sandler reduced their price target on shares of Chegg from $6.00 to $2.00 and set an “underweight” rating on the stock in a research note on Tuesday, August 6th. The Goldman Sachs Group raised shares of Chegg from a “sell” rating to a “neutral” rating and lowered their price objective for the company from $7.00 to $3.75 in a research report on Tuesday, August 6th. Northland Securities dropped their price objective on Chegg from $6.00 to $4.00 and set a “market perform” rating on the stock in a research note on Monday, October 21st. Finally, Morgan Stanley cut their price target on Chegg from $3.25 to $3.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 6th. Three analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.25.

Chegg Stock Down 0.3 %

Shares of CHGG stock traded down $0.01 during trading hours on Friday, reaching $1.72. 376,494 shares of the company’s stock were exchanged, compared to its average volume of 3,555,585. Chegg, Inc. has a fifty-two week low of $1.48 and a fifty-two week high of $11.48. The stock’s 50 day moving average is $1.74 and its 200-day moving average is $2.92. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.67. The company has a market cap of $175.31 million, a price-to-earnings ratio of -0.28, a P/E/G ratio of 0.59 and a beta of 1.32.

Chegg (NYSE:CHGG) last released its quarterly earnings results on Monday, August 5th. The technology company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. Chegg had a positive return on equity of 2.10% and a negative net margin of 91.74%. The company had revenue of $163.10 million during the quarter, compared to analysts’ expectations of $160.02 million. During the same period last year, the business posted $0.01 earnings per share. The firm’s revenue was down 10.8% compared to the same quarter last year. Analysts predict that Chegg, Inc. will post 0.19 earnings per share 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.