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

Dimensional Fund Advisors LP raised its stake in Chegg, Inc. (NYSE:CHGG) by 10.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,585,055 shares of the technology company’s stock after purchasing an additional 433,709 shares during the period. Dimensional Fund Advisors LP owned 4.49% of Chegg worth $14,488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Chegg during the 1st quarter worth approximately $30,000. Gladius Capital Management LP purchased a new position in Chegg in the second quarter valued at $27,000. Adero Partners LLC acquired a new position in Chegg during the 2nd quarter worth approximately $34,000. Entropy Technologies LP acquired a new position in shares of Chegg during the first quarter worth $90,000. Finally, Par Capital Management Inc. purchased a new position in Chegg in the fourth quarter valued at approximately $204,000. Hedge funds and other institutional investors own 95.18% of the company’s stock.

Chegg Stock Performance

NYSE:CHGG opened at $1.68 on Friday. The firm has a market capitalization of $171.72 million, a PE ratio of -8.84, a PEG ratio of 0.58 and a beta of 1.31. Chegg, Inc. has a 1 year low of $1.61 and a 1 year high of $11.48. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.67. The firm’s fifty day simple moving average is $2.12 and its 200 day simple moving average is $3.84.

Chegg (NYSE:CHGG) last posted its quarterly earnings data 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. The business had revenue of $163.10 million during the quarter, compared to analysts’ expectations of $160.02 million. Chegg had a positive return on equity of 2.10% and a negative net margin of 91.74%. The firm’s revenue was down 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.01 EPS. On average, sell-side analysts anticipate that Chegg, Inc. will post 0.19 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Morgan Stanley decreased their price target on Chegg from $3.25 to $3.00 and set an “equal weight” rating for the company in a report on Tuesday, August 6th. StockNews.com downgraded Chegg from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Craig Hallum decreased their target price on Chegg from $7.00 to $3.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. Needham & Company LLC restated a “hold” rating on shares of Chegg in a research note on Tuesday, August 6th. Finally, The Goldman Sachs Group raised shares of Chegg from a “sell” rating to a “neutral” rating and decreased their price target for the stock from $7.00 to $3.75 in a research report on Tuesday, August 6th. Three equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $5.47.

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.