Dimensional Fund Advisors LP Sells 1,302,151 Shares of Chegg, Inc. (NYSE:CHGG)

Dimensional Fund Advisors LP trimmed its position in Chegg, Inc. (NYSE:CHGG - Free Report) by 37.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,138,524 shares of the technology company's stock after selling 1,302,151 shares during the period. Dimensional Fund Advisors LP owned about 2.05% of Chegg worth $3,443,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CHGG. Pallas Capital Advisors LLC boosted its stake in Chegg by 60.5% in the fourth quarter. Pallas Capital Advisors LLC now owns 17,659 shares of the technology company's stock valued at $28,000 after acquiring an additional 6,658 shares during the last quarter. Intech Investment Management LLC lifted its stake in shares of Chegg by 30.1% during the 4th quarter. Intech Investment Management LLC now owns 41,164 shares of the technology company's stock valued at $66,000 after buying an additional 9,514 shares in the last quarter. Caprock Group LLC purchased a new stake in shares of Chegg during the 4th quarter valued at approximately $28,000. Empowered Funds LLC lifted its stake in shares of Chegg by 5.1% during the 4th quarter. Empowered Funds LLC now owns 391,294 shares of the technology company's stock valued at $630,000 after buying an additional 18,860 shares in the last quarter. Finally, Ieq Capital LLC purchased a new stake in shares of Chegg during the 4th quarter valued at approximately $31,000. 95.18% of the stock is owned by institutional investors.

Chegg Price Performance

Shares of NYSE:CHGG traded up $0.01 during trading on Monday, reaching $0.90. The company had a trading volume of 4,217,855 shares, compared to its average volume of 3,676,713. The company has a fifty day moving average of $0.65 and a two-hundred day moving average of $1.31. The stock has a market capitalization of $96.09 million, a P/E ratio of -0.11 and a beta of 1.75. Chegg, Inc. has a 12 month low of $0.44 and a 12 month high of $4.39. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.31.

Analysts Set New Price Targets

A number of brokerages recently commented on CHGG. Needham & Company LLC restated a "hold" rating on shares of Chegg in a research note on Monday, May 12th. JPMorgan Chase & Co. reiterated an "underweight" rating on shares of Chegg in a research note on Tuesday, April 8th. Piper Sandler lowered their target price on shares of Chegg from $1.50 to $1.00 and set an "underweight" rating on the stock in a research note on Tuesday, February 25th. Finally, StockNews.com began coverage on shares of Chegg in a research note on Thursday, April 17th. They issued a "hold" rating on the stock. Three investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $1.70.

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.