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

Baader Bank Aktiengesellschaft lowered its holdings in Chegg, Inc. (NYSE:CHGG - Free Report) by 47.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 300,573 shares of the technology company's stock after selling 269,427 shares during the period. Baader Bank Aktiengesellschaft owned about 0.29% of Chegg worth $484,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Pallas Capital Advisors LLC grew its holdings in Chegg by 60.5% during the fourth 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 during the period. American Century Companies Inc. lifted its holdings in Chegg by 11.2% during the second quarter. American Century Companies Inc. now owns 119,325 shares of the technology company's stock valued at $377,000 after purchasing an additional 11,992 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in Chegg by 26.4% during the third quarter. Harbor Capital Advisors Inc. now owns 72,709 shares of the technology company's stock worth $129,000 after purchasing an additional 15,180 shares during the period. Point72 Asia Singapore Pte. Ltd. increased its stake in shares of Chegg by 272.2% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 25,051 shares of the technology company's stock worth $44,000 after purchasing an additional 18,320 shares in the last quarter. Finally, Empowered Funds LLC raised its position in shares of Chegg by 5.3% in the third quarter. Empowered Funds LLC now owns 372,434 shares of the technology company's stock valued at $659,000 after purchasing an additional 18,894 shares during the period. Institutional investors own 95.18% of the company's stock.

Chegg Price Performance

Shares of Chegg stock traded down $0.10 on Monday, hitting $1.45. 1,743,528 shares of the company traded hands, compared to its average volume of 2,653,458. Chegg, Inc. has a 12-month low of $1.34 and a 12-month high of $9.75. 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 $150.73 million, a P/E ratio of -0.18 and a beta of 1.41. The firm's 50-day simple moving average is $1.86 and its 200 day simple moving average is $1.98.

Chegg (NYSE:CHGG - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.03. The firm had revenue of $136.59 million during the quarter, compared to analysts' expectations of $134.12 million. Chegg had a positive return on equity of 2.36% and a negative net margin of 124.05%. The company's revenue for the quarter was down 13.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.07) EPS. Analysts expect that Chegg, Inc. will post 0.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CHGG shares. Needham & Company LLC reiterated a "hold" rating on shares of Chegg in a research note on Thursday, January 16th. The Goldman Sachs Group reduced their price target on Chegg from $3.75 to $1.75 and set a "neutral" rating for the company in a research report on Thursday, November 14th. Morgan Stanley reissued 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. Northland Securities reduced their target price on Chegg from $4.00 to $3.00 and set a "market perform" rating for the company in a report on Wednesday, November 13th. Finally, Piper Sandler lowered their price target on shares of Chegg from $2.00 to $1.50 and set an "underweight" rating on the stock in a report on Thursday, November 14th. Four research analysts have rated the stock with a sell rating and seven have given a hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $4.50.

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.