Dimensional Fund Advisors LP increased its position in shares of Chegg Inc (NYSE:CHGG) by 229.3% in the 4th quarter, HoldingsChannel reports. The fund owned 280,365 shares of the technology company’s stock after buying an additional 195,221 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Chegg were worth $7,968,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in CHGG. Parallel Advisors LLC raised its holdings in shares of Chegg by 22.8% during the fourth quarter. Parallel Advisors LLC now owns 1,558 shares of the technology company’s stock worth $44,000 after acquiring an additional 289 shares in the last quarter. PRW Wealth Management LLC acquired a new position in Chegg during the fourth quarter worth $56,000. Bessemer Group Inc. acquired a new position in Chegg during the fourth quarter worth $116,000. Bank of Montreal Can increased its position in Chegg by 21.1% during the fourth quarter. Bank of Montreal Can now owns 7,169 shares of the technology company’s stock worth $203,000 after buying an additional 1,249 shares during the last quarter. Finally, LPL Financial LLC acquired a new position in Chegg during the fourth quarter worth $205,000.
CHGG has been the topic of several analyst reports. Zacks Investment Research raised shares of Chegg from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research report on Friday, April 5th. Craig Hallum reissued a “buy” rating and set a $50.00 target price (up from $45.00) on shares of Chegg in a research report on Tuesday, April 30th. Barrington Research reissued a “buy” rating on shares of Chegg in a research report on Wednesday, April 17th. Needham & Company LLC initiated coverage on shares of Chegg in a research report on Wednesday, June 5th. They set a “buy” rating and a $44.00 target price on the stock. Finally, Berenberg Bank initiated coverage on shares of Chegg in a research report on Wednesday, March 6th. They set a “buy” rating and a $48.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $39.82.
Chegg stock opened at $38.84 on Friday. The company has a debt-to-equity ratio of 1.84, a quick ratio of 13.96 and a current ratio of 13.96. The firm has a market cap of $4.62 billion, a price-to-earnings ratio of 431.56, a price-to-earnings-growth ratio of 6.76 and a beta of 1.12. Chegg Inc has a one year low of $22.67 and a one year high of $41.69.
Chegg (NYSE:CHGG) last posted its earnings results on Monday, April 29th. The technology company reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.09). The business had revenue of $97.40 million for the quarter, compared to analyst estimates of $94.69 million. Chegg had a positive return on equity of 4.73% and a negative net margin of 4.86%. The company’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.10 earnings per share. On average, sell-side analysts predict that Chegg Inc will post 0.19 EPS for the current fiscal year.
Chegg Company Profile
Chegg, Inc operates direct-to-student learning platform that supports students on their journey from high school to college and into their career with tools designed to help them pass their test, pass their class, and save money on required materials. The company offers Chegg Services, which include digital products and services; and required materials that comprise its print textbooks and eTextbooks.
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