Schechter Investment Advisors LLC Buys Shares of 100,000 Chegg, Inc. (NYSE:CHGG)

Schechter Investment Advisors LLC bought a new stake in Chegg, Inc. (NYSE:CHGG) during the 4th quarter, Holdings Channel reports. The firm bought 100,000 shares of the technology company’s stock, valued at approximately $161,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in shares of 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 last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Chegg by 14.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 911,333 shares of the technology company’s stock worth $1,613,000 after acquiring an additional 118,403 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Chegg by 15.4% in the 4th quarter. Bank of New York Mellon Corp now owns 437,199 shares of the technology company’s stock worth $704,000 after acquiring an additional 58,452 shares during the last quarter. XTX Topco Ltd lifted its holdings in shares of Chegg by 384.4% in the 3rd quarter. XTX Topco Ltd now owns 394,152 shares of the technology company’s stock worth $698,000 after acquiring an additional 312,780 shares during the last quarter. Finally, Empowered Funds LLC lifted its holdings in shares of 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 acquiring an additional 18,860 shares during the last quarter. 95.18% of the stock is currently owned by institutional investors and hedge funds.

Chegg Trading Down 8.5 %

Shares of NYSE:CHGG opened at $0.87 on Friday. Chegg, Inc. has a 52 week low of $0.86 and a 52 week high of $8.41. The company’s 50 day moving average is $1.47 and its two-hundred day moving average is $1.75. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.31. The company has a market cap of $91.34 million, a PE ratio of -0.11 and a beta of 1.41.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CHGG shares. Needham & Company LLC restated a “hold” rating on shares of Chegg in a report on Tuesday, February 25th. Morgan Stanley restated an “underweight” rating and issued a $1.25 price objective (down from $2.00) on shares of Chegg in a report on Tuesday, January 14th. The Goldman Sachs Group cut their target price on shares of Chegg from $3.75 to $1.75 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Craig Hallum cut their target price on shares of Chegg from $3.00 to $1.50 and set a “hold” rating on the stock in a research note on Wednesday, November 13th. Finally, Northland Securities cut 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 note on Wednesday, November 13th. Three equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $2.08.

Chegg 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.