1,276,420 Shares in Chegg, Inc. (NYSE:CHGG) Bought by Knightsbridge Asset Management LLC

Knightsbridge Asset Management LLC purchased a new stake in Chegg, Inc. (NYSE:CHGG) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 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 reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Chegg by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 9,765,268 shares of the technology company’s stock valued at $15,722,000 after purchasing an additional 180,258 shares in the last quarter. Quinn Opportunity Partners LLC increased its position in Chegg by 48.6% during the fourth quarter. Quinn Opportunity Partners LLC now owns 2,879,937 shares of the technology company’s stock worth $4,637,000 after buying an additional 941,410 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Chegg by 1.2% in the third quarter. Geode Capital Management LLC now owns 2,315,187 shares of the technology company’s stock worth $4,099,000 after acquiring an additional 26,574 shares during the last quarter. Renaissance Technologies LLC increased its position in Chegg by 29.6% during the 4th quarter. Renaissance Technologies LLC now owns 1,826,100 shares of the technology company’s stock worth $2,940,000 after purchasing an additional 417,000 shares in the last quarter. Finally, Voss Capital LP purchased a new position in Chegg in the 4th quarter valued at about $2,874,000. Institutional investors and hedge funds own 95.18% of the company’s stock.

Chegg Stock Performance

Shares of CHGG opened at $0.62 on Friday. Chegg, Inc. has a 52-week low of $0.44 and a 52-week high of $7.22. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $65.55 million, a PE ratio of -0.08 and a beta of 1.81. The firm has a 50-day moving average price of $0.78 and a 200 day moving average price of $1.41.

Wall Street Analysts Forecast Growth

CHGG has been the subject of several analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Chegg in a research note on Tuesday, February 25th. JPMorgan Chase & Co. restated an “underweight” rating on shares of Chegg in a report on Tuesday, April 8th. Morgan Stanley reiterated an “underweight” rating and issued a $1.25 price target (down previously from $2.00) on shares of Chegg in a report on Tuesday, January 14th. StockNews.com assumed coverage on Chegg in a report on Thursday, April 17th. They issued a “hold” rating on the stock. Finally, Piper Sandler decreased their target price on Chegg from $1.50 to $1.00 and set an “underweight” rating for the company in a report on Tuesday, February 25th. Four investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, Chegg currently has a consensus rating of “Hold” and an average price target of $2.08.

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.