Knightsbridge Asset Management LLC Acquires New Holdings in Chegg, Inc. (NYSE:CHGG)

Knightsbridge Asset Management LLC purchased a new stake in shares of Chegg, Inc. (NYSE:CHGG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 1,276,420 shares of the technology company's stock, valued at approximately $2,055,000. Knightsbridge Asset Management LLC owned 1.22% of Chegg at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Caprock Group LLC bought a new position in shares of Chegg during the 4th quarter valued at $28,000. Pallas Capital Advisors LLC raised its holdings in Chegg by 60.5% in the 4th quarter. Pallas Capital Advisors LLC now owns 17,659 shares of the technology company's stock worth $28,000 after purchasing an additional 6,658 shares during the period. Ieq Capital LLC bought a new position in Chegg in the 4th quarter worth $31,000. MetLife Investment Management LLC raised its holdings in Chegg by 107.5% in the 4th quarter. MetLife Investment Management LLC now owns 36,967 shares of the technology company's stock worth $60,000 after purchasing an additional 19,153 shares during the period. Finally, Intech Investment Management LLC raised its holdings in Chegg by 30.1% in the 4th quarter. Intech Investment Management LLC now owns 41,164 shares of the technology company's stock worth $66,000 after purchasing an additional 9,514 shares during the period. 95.18% of the stock is owned by institutional investors.

Chegg Trading Down 3.1 %

NYSE CHGG traded down $0.02 during trading on Wednesday, hitting $0.65. The stock had a trading volume of 576,811 shares, compared to its average volume of 3,786,492. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market capitalization of $68.98 million, a price-to-earnings ratio of -0.08 and a beta of 1.81. Chegg, Inc. has a one year low of $0.44 and a one year high of $6.23. The stock has a 50 day simple moving average of $0.73 and a 200 day simple moving average of $1.39.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CHGG shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Chegg in a report on Tuesday, February 25th. Piper Sandler decreased their price target on Chegg from $1.50 to $1.00 and set an "underweight" rating on the stock in a report on Tuesday, February 25th. Morgan Stanley reissued an "underweight" rating and set a $1.25 price target (down from $2.00) on shares of Chegg in a report on Tuesday, January 14th. JPMorgan Chase & Co. reissued an "underweight" rating on shares of Chegg in a report on Tuesday, April 8th. Finally, StockNews.com initiated coverage on Chegg in a research report on Thursday, April 17th. They set a "hold" rating for the company. Four research analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $2.08.

About Chegg

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.