Knightsbridge Asset Management LLC Takes Position in Chegg, Inc. (NYSE:CHGG)

Knightsbridge Asset Management LLC bought a new position in shares of Chegg, Inc. (NYSE:CHGG - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,276,420 shares of the technology company's stock, valued at approximately $2,055,000. Knightsbridge Asset Management LLC owned 1.22% of Chegg at the end of the most recent quarter.

Several other large investors also recently modified their holdings of CHGG. Hsbc Holdings PLC boosted its stake in shares of Chegg by 41.8% during the 4th quarter. Hsbc Holdings PLC now owns 50,206 shares of the technology company's stock valued at $81,000 after purchasing an additional 14,801 shares in the last quarter. Voss Capital LP bought a new position in shares of Chegg in the 4th quarter worth approximately $2,874,000. MetLife Investment Management LLC raised its position in shares of Chegg by 107.5% in the 4th quarter. MetLife Investment Management LLC now owns 36,967 shares of the technology company's stock worth $60,000 after acquiring an additional 19,153 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Chegg by 30.7% in the 4th quarter. Canada Pension Plan Investment Board now owns 151,400 shares of the technology company's stock valued at $244,000 after purchasing an additional 35,600 shares during the period. Finally, Townsquare Capital LLC bought a new stake in shares of Chegg during the fourth quarter valued at approximately $86,000. 95.18% of the stock is owned by institutional investors.

Chegg Trading Up 3.3 %

Shares of NYSE:CHGG traded up $0.02 on Tuesday, hitting $0.68. 1,916,071 shares of the company's stock were exchanged, compared to its average volume of 3,048,967. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $71.13 million, a price-to-earnings ratio of -0.08 and a beta of 1.81. The business's 50 day simple moving average is $0.74 and its two-hundred day simple moving average is $1.40. Chegg, Inc. has a 12 month low of $0.44 and a 12 month high of $6.23.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. JPMorgan Chase & Co. restated an "underweight" rating on shares of Chegg in a report on Tuesday, April 8th. Morgan Stanley reissued an "underweight" rating and set a $1.25 price objective (down previously from $2.00) on shares of Chegg in a research note on Tuesday, January 14th. Piper Sandler decreased their target price on shares of Chegg from $1.50 to $1.00 and set an "underweight" rating for the company in a research note on Tuesday, February 25th. StockNews.com assumed coverage on Chegg in a research report on Thursday, April 17th. They issued a "hold" rating on the stock. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Chegg in a research report on Tuesday, February 25th. Four research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat, Chegg presently has a consensus rating of "Hold" and an average 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.