UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $332,000 Holdings in Chegg, Inc. (NYSE:CHGG)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in shares of Chegg, Inc. (NYSE:CHGG - Free Report) by 95.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 187,643 shares of the technology company's stock after selling 4,096,455 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.18% of Chegg worth $332,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CHGG. Adero Partners LLC acquired a new stake in Chegg in the 2nd quarter valued at approximately $34,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Chegg in the 2nd quarter worth approximately $60,000. SG Americas Securities LLC bought a new stake in Chegg in the second quarter valued at $99,000. Intech Investment Management LLC bought a new stake in shares of Chegg in the 3rd quarter worth about $56,000. Finally, Headlands Technologies LLC increased its position in shares of Chegg by 6,994.3% during the 2nd quarter. Headlands Technologies LLC now owns 32,563 shares of the technology company's stock worth $103,000 after purchasing an additional 32,104 shares in the last quarter. Institutional investors own 95.18% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on CHGG shares. Piper Sandler cut their price objective on Chegg from $2.00 to $1.50 and set an "underweight" rating for the company in a research report on Thursday, November 14th. Needham & Company LLC reaffirmed a "hold" rating on shares of Chegg in a report on Wednesday, November 13th. Craig Hallum cut their price target on shares of Chegg from $3.00 to $1.50 and set a "hold" rating on the stock in a research report on Wednesday, November 13th. The Goldman Sachs Group reduced their price target on shares of Chegg from $3.75 to $1.75 and set a "neutral" rating on the stock in a research report on Thursday, November 14th. Finally, Northland Securities lowered their target price on Chegg from $4.00 to $3.00 and set a "market perform" rating for the company in a research note on Wednesday, November 13th. Three analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company's stock. According to MarketBeat.com, Chegg presently has a consensus rating of "Hold" and a consensus target price of $4.69.

Chegg Stock Down 4.3 %

CHGG traded down $0.08 on Friday, hitting $1.77. 3,928,826 shares of the company were exchanged, compared to its average volume of 3,682,756. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.91 and a current ratio of 0.91. The stock's fifty day moving average is $1.92 and its 200-day moving average is $2.29. The company has a market cap of $184.62 million, a PE ratio of -0.22 and a beta of 1.36. Chegg, Inc. has a 12 month low of $1.34 and a 12 month high of $11.48.

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