Alliancebernstein L.P. raised its position in Chegg Inc (NYSE:CHGG) by 14.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,331,046 shares of the technology company’s stock after buying an additional 409,956 shares during the quarter. Alliancebernstein L.P. owned about 3.07% of Chegg worth $54,363,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Swiss National Bank grew its holdings in shares of Chegg by 30.9% during the 3rd quarter. Swiss National Bank now owns 150,100 shares of the technology company’s stock valued at $2,227,000 after purchasing an additional 35,400 shares during the last quarter. Columbus Circle Investors bought a new stake in shares of Chegg during the 3rd quarter valued at approximately $14,234,000. 1492 Capital Management LLC bought a new stake in shares of Chegg during the 3rd quarter valued at approximately $453,000. California Public Employees Retirement System bought a new stake in shares of Chegg during the 2nd quarter valued at approximately $408,000. Finally, Granahan Investment Management Inc. MA grew its holdings in shares of Chegg by 31.1% during the 3rd quarter. Granahan Investment Management Inc. MA now owns 714,949 shares of the technology company’s stock valued at $10,610,000 after purchasing an additional 169,709 shares during the last quarter.
CHGG has been the topic of a number of research reports. Zacks Investment Research lowered shares of Chegg from a “hold” rating to a “sell” rating in a report on Thursday, February 22nd. Citigroup initiated coverage on shares of Chegg in a report on Monday, November 20th. They set a “buy” rating and a $19.00 target price on the stock. Morgan Stanley initiated coverage on shares of Chegg in a report on Monday, February 26th. They set an “equal weight” rating and a $23.00 target price on the stock. Northland Securities reissued a “buy” rating and set a $20.00 target price on shares of Chegg in a report on Tuesday, January 9th. Finally, ValuEngine lowered shares of Chegg from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $17.58.
Chegg Inc (NYSE:CHGG) opened at $22.27 on Tuesday. The stock has a market cap of $2,450.00, a P/E ratio of -106.05, a PEG ratio of 7.54 and a beta of 1.49. Chegg Inc has a 1 year low of $7.84 and a 1 year high of $23.22.
Chegg (NYSE:CHGG) last issued its quarterly earnings results on Monday, February 12th. The technology company reported $0.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.02. The firm had revenue of $73.51 million for the quarter, compared to the consensus estimate of $70.61 million. Chegg had a negative net margin of 7.95% and a negative return on equity of 2.37%. The company’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.10 EPS. equities research analysts forecast that Chegg Inc will post 0.12 earnings per share for the current year.
Chegg, Inc is a student-first connected learning platform. The Company helps students study for college admission exams, find the colleges, get grades and test scores while in school, and find internships that allow them to gain skills to help them enter the workforce after college. The Company matches domestic and international students with colleges, universities and other academic institutions (collectively referred to as colleges) in the United States.
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