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

Dimensional Fund Advisors LP cut its holdings in Chegg, Inc. (NYSE:CHGG - Free Report) by 37.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership increased its holdings in Chegg by 247.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,464,022 shares of the technology company's stock worth $2,357,000 after buying an additional 1,042,136 shares during the last quarter. Quinn Opportunity Partners LLC increased its holdings in Chegg by 48.6% during the fourth quarter. Quinn Opportunity Partners LLC now owns 2,879,937 shares of the technology company's stock worth $4,637,000 after buying an additional 941,410 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Chegg by 29.6% during the fourth quarter. Renaissance Technologies LLC now owns 1,826,100 shares of the technology company's stock worth $2,940,000 after buying an additional 417,000 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Chegg by 20.8% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,694,522 shares of the technology company's stock worth $2,728,000 after purchasing an additional 291,902 shares during the period. Finally, Vanguard Group Inc. boosted its position in Chegg by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 9,765,268 shares of the technology company's stock worth $15,722,000 after purchasing an additional 180,258 shares during the period. 95.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. reaffirmed an "underweight" rating on shares of Chegg in a research report on Tuesday, April 8th. StockNews.com assumed coverage on shares of Chegg in a research report on Thursday, April 17th. They set a "hold" rating for the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Chegg in a research report on Monday, May 12th. Finally, Piper Sandler reduced their price objective on shares of Chegg from $1.50 to $1.00 and set an "underweight" rating for the company in a research report on Tuesday, February 25th. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat.com, Chegg has a consensus rating of "Hold" and a consensus target price of $1.70.

Chegg Stock Performance

Shares of Chegg stock traded up $0.08 during trading on Friday, reaching $0.90. The company's stock had a trading volume of 2,380,597 shares, compared to its average volume of 3,676,285. The business's 50-day moving average price is $0.65 and its 200-day moving average price is $1.32. The firm has a market cap of $95.59 million, a PE ratio of -0.11 and a beta of 1.75. Chegg, Inc. has a 52 week low of $0.44 and a 52 week high of $4.56. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.31.

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.