Bordeaux Wealth Advisors LLC Acquires 5,390 Shares of Chegg, Inc. (NYSE:CHGG)

Bordeaux Wealth Advisors LLC increased its stake in Chegg, Inc. (NYSE:CHGG) by 9.9% during the 4th quarter, Holdings Channel reports. The firm owned 59,924 shares of the technology company’s stock after purchasing an additional 5,390 shares during the quarter. Bordeaux Wealth Advisors LLC’s holdings in Chegg were worth $681,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. SG Americas Securities LLC purchased a new position in shares of Chegg in the 3rd quarter worth about $437,000. Commonwealth Equity Services LLC raised its stake in shares of Chegg by 2.6% during the third quarter. Commonwealth Equity Services LLC now owns 70,415 shares of the technology company’s stock worth $628,000 after acquiring an additional 1,768 shares in the last quarter. Robeco Institutional Asset Management B.V. bought a new position in shares of Chegg during the 3rd quarter valued at $1,261,000. Mackenzie Financial Corp purchased a new position in shares of Chegg in the third quarter worth about $549,000. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in Chegg by 5.3% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 51,276 shares of the technology company’s stock valued at $457,000 after purchasing an additional 2,600 shares during the last quarter. 95.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on CHGG. Craig Hallum restated a “hold” rating and issued a $7.00 price objective (down previously from $13.00) on shares of Chegg in a research report on Tuesday. JPMorgan Chase & Co. dropped their price objective on Chegg from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Tuesday, February 6th. Piper Sandler restated an “underweight” rating and set a $6.00 target price (down previously from $8.50) on shares of Chegg in a report on Tuesday. The Goldman Sachs Group cut their price target on shares of Chegg from $8.00 to $7.00 and set a “sell” rating on the stock in a report on Tuesday, February 6th. Finally, Morgan Stanley decreased their price objective on shares of Chegg from $8.50 to $7.00 and set an “underweight” rating for the company in a report on Friday, April 19th. Five investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Chegg currently has an average rating of “Hold” and a consensus target price of $7.72.

Chegg Stock Up 0.6 %

NYSE CHGG traded up $0.03 during trading hours on Friday, reaching $5.24. 4,174,926 shares of the company’s stock traded hands, compared to its average volume of 2,941,064. Chegg, Inc. has a 52-week low of $4.96 and a 52-week high of $13.11. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.92 and a quick ratio of 0.80. The firm has a 50-day simple moving average of $7.45 and a 200 day simple moving average of $8.99. The firm has a market cap of $535.62 million, a PE ratio of -27.58, a PEG ratio of 1.05 and a beta of 1.35.

Chegg (NYSE:CHGG) last announced its quarterly earnings data on Monday, February 5th. The technology company reported $0.36 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.36. Chegg had a return on equity of 0.87% and a net margin of 2.07%. The business had revenue of $187.99 million during the quarter, compared to analysts’ expectations of $185.94 million. During the same quarter in the previous year, the business earned $0.16 earnings per share. The firm’s quarterly revenue was down 8.4% compared to the same quarter last year. Sell-side analysts anticipate that Chegg, Inc. will post 0.26 EPS for the current fiscal year.

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.