Arrowstreet Capital Limited Partnership Boosts Holdings in Chegg, Inc. (NYSE:CHGG)

Arrowstreet Capital Limited Partnership raised its position in Chegg, Inc. (NYSE:CHGG - Free Report) by 247.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,464,022 shares of the technology company's stock after purchasing an additional 1,042,136 shares during the quarter. Arrowstreet Capital Limited Partnership owned 1.40% of Chegg worth $2,357,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Pallas Capital Advisors LLC raised its holdings in shares of Chegg by 60.5% in the 4th quarter. Pallas Capital Advisors LLC now owns 17,659 shares of the technology company's stock valued at $28,000 after purchasing an additional 6,658 shares in the last quarter. Intech Investment Management LLC increased its holdings in shares of Chegg by 30.1% in the 4th quarter. Intech Investment Management LLC now owns 41,164 shares of the technology company's stock valued at $66,000 after acquiring an additional 9,514 shares during the period. Caprock Group LLC bought a new position in shares of Chegg in the 4th quarter worth $28,000. Empowered Funds LLC lifted its stake in shares of Chegg by 5.1% during the 4th quarter. Empowered Funds LLC now owns 391,294 shares of the technology company's stock worth $630,000 after purchasing an additional 18,860 shares during the last quarter. Finally, Ieq Capital LLC bought a new stake in Chegg during the fourth quarter valued at about $31,000. Institutional investors own 95.18% of the company's stock.

Chegg Trading Up 1.4 %

Shares of CHGG stock traded up $0.01 on Tuesday, hitting $0.50. The stock had a trading volume of 260,499 shares, compared to its average volume of 3,819,573. The company's 50 day moving average price is $0.92 and its 200-day moving average price is $1.47. Chegg, Inc. has a 1 year low of $0.44 and a 1 year high of $7.26. 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 firm has a market capitalization of $52.24 million, a P/E ratio of -0.06 and a beta of 1.81.

Analyst Ratings Changes

CHGG has been the topic of a number of recent analyst reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Chegg in a research report on Tuesday, February 25th. Piper Sandler decreased their price target on Chegg from $1.50 to $1.00 and set an "underweight" rating for the company in a research note on Tuesday, February 25th. JPMorgan Chase & Co. restated an "underweight" rating on shares of Chegg in a research note on Tuesday, April 8th. Finally, Morgan Stanley restated an "underweight" rating and set a $1.25 price objective (down previously from $2.00) on shares of Chegg in a report on Tuesday, January 14th. Four research analysts have rated the stock with a sell rating and five have issued a hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price 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.