Dimensional Fund Advisors LP Boosts Holdings in Chegg, Inc. (NYSE:CHGG)

Dimensional Fund Advisors LP grew its holdings in shares of Chegg, Inc. (NYSE:CHGG - Free Report) by 10.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,585,055 shares of the technology company's stock after purchasing an additional 433,709 shares during the quarter. Dimensional Fund Advisors LP owned approximately 4.49% of Chegg worth $14,488,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. American Century Companies Inc. lifted its position in Chegg by 11.2% during the second quarter. American Century Companies Inc. now owns 119,325 shares of the technology company's stock worth $377,000 after buying an additional 11,992 shares in the last quarter. Headlands Technologies LLC boosted its holdings in Chegg by 6,994.3% in the 2nd quarter. Headlands Technologies LLC now owns 32,563 shares of the technology company's stock valued at $103,000 after purchasing an additional 32,104 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of Chegg by 11,517.3% during the 2nd quarter. Acadian Asset Management LLC now owns 2,154,885 shares of the technology company's stock valued at $6,807,000 after buying an additional 2,136,336 shares during the period. Victory Capital Management Inc. grew its position in Chegg by 939.4% in the second quarter. Victory Capital Management Inc. now owns 495,450 shares of the technology company's stock worth $1,566,000 after acquiring an additional 447,784 shares during the period. Finally, Rhumbline Advisers increased its stake in Chegg by 7.1% during the second quarter. Rhumbline Advisers now owns 183,347 shares of the technology company's stock worth $579,000 after acquiring an additional 12,153 shares during the last quarter. 95.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CHGG shares. Needham & Company LLC reiterated a "hold" rating on shares of Chegg in a research report on Tuesday, August 6th. Craig Hallum dropped their price objective on Chegg from $7.00 to $3.00 and set a "hold" rating for the company in a research note on Wednesday, August 7th. StockNews.com lowered Chegg from a "buy" rating to a "hold" rating in a research note on Tuesday, August 6th. The Goldman Sachs Group upgraded shares of Chegg from a "sell" rating to a "neutral" rating and cut their price target for the stock from $7.00 to $3.75 in a research note on Tuesday, August 6th. Finally, Morgan Stanley reduced their target price on shares of Chegg from $3.25 to $3.00 and set an "equal weight" rating on the stock in a report on Tuesday, August 6th. Three research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat.com, Chegg has an average rating of "Hold" and an average target price of $5.47.

Chegg Stock Up 3.1 %

Shares of Chegg stock traded up $0.05 during trading on Friday, hitting $1.68. 2,876,580 shares of the stock were exchanged, compared to its average volume of 3,541,234. The stock has a market cap of $171.72 million, a price-to-earnings ratio of -8.84, a price-to-earnings-growth ratio of 0.58 and a beta of 1.31. The firm's 50-day moving average price is $2.12 and its 200 day moving average price is $3.81. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.89 and a quick ratio of 0.89. Chegg, Inc. has a 12-month low of $1.61 and a 12-month high of $11.48.

Chegg (NYSE:CHGG - Get Free Report) last posted its earnings results on Monday, August 5th. The technology company reported $0.24 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $163.10 million during the quarter, compared to analysts' expectations of $160.02 million. During the same quarter in the previous year, the business earned $0.01 earnings per share. The firm's revenue was down 10.8% compared to the same quarter last year. As a group, analysts forecast that Chegg, Inc. will post 0.19 earnings per share for the current fiscal year.

About Chegg

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.