Daiwa Securities Group Inc. Acquires 2,500 Shares of Chegg, Inc. (NYSE:CHGG)

Daiwa Securities Group Inc. boosted its holdings in shares of Chegg, Inc. (NYSE:CHGG) by 6.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,595 shares of the technology company’s stock after purchasing an additional 2,500 shares during the period. Daiwa Securities Group Inc.’s holdings in Chegg were worth $473,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Mackenzie Financial Corp lifted its stake in Chegg by 123.1% during the fourth quarter. Mackenzie Financial Corp now owns 141,400 shares of the technology company’s stock worth $1,606,000 after purchasing an additional 78,024 shares during the last quarter. Vontobel Holding Ltd. lifted its stake in shares of Chegg by 8.3% in the 4th quarter. Vontobel Holding Ltd. now owns 55,128 shares of the technology company’s stock valued at $626,000 after acquiring an additional 4,240 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Chegg by 4.5% in the 4th quarter. SG Americas Securities LLC now owns 51,205 shares of the technology company’s stock valued at $582,000 after acquiring an additional 2,216 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Chegg by 100.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 67,751 shares of the technology company’s stock valued at $604,000 after acquiring an additional 34,001 shares during the last quarter. Finally, Sylebra Capital LLC bought a new position in shares of Chegg in the 3rd quarter valued at $61,286,000. 95.18% of the stock is currently owned by institutional investors.

Chegg Stock Performance

Shares of Chegg stock opened at $7.10 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.26. The business has a 50-day moving average price of $7.81 and a two-hundred day moving average price of $9.09. Chegg, Inc. has a 1-year low of $6.63 and a 1-year high of $18.71. The company has a market cap of $721.15 million, a P/E ratio of -44.69, a PEG ratio of 1.32 and a beta of 1.26.

Chegg (NYSE:CHGG) last issued its quarterly earnings results on Monday, February 5th. The technology company reported $0.36 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.36. Chegg had a return on equity of 1.27% and a net margin of 2.54%. The firm had revenue of $187.99 million during the quarter, compared to the consensus estimate of $185.94 million. During the same period last year, the business posted $0.16 EPS. The business’s revenue was down 8.4% compared to the same quarter last year. As a group, analysts anticipate that Chegg, Inc. will post 0.26 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CHGG. The Goldman Sachs Group dropped their price target on Chegg from $8.00 to $7.00 and set a “sell” rating for the company in a research note on Tuesday, February 6th. JPMorgan Chase & Co. decreased 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. StockNews.com upgraded Chegg from a “hold” rating to a “buy” rating in a report on Tuesday, January 23rd. Morgan Stanley decreased their price objective on Chegg from $8.50 to $7.00 and set an “underweight” rating for the company in a report on Friday, April 19th. Finally, BMO Capital Markets decreased their price objective on Chegg from $11.00 to $10.00 and set a “market perform” rating for the company in a report on Tuesday, February 6th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $10.00.

Chegg 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.