Baader Bank Aktiengesellschaft Has $327,000 Position in Chegg, Inc. $CHGG

Baader Bank Aktiengesellschaft lessened its stake in shares of Chegg, Inc. (NYSE:CHGG - Free Report) by 54.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 273,714 shares of the technology company's stock after selling 326,287 shares during the period. Baader Bank Aktiengesellschaft owned 0.26% of Chegg worth $327,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. grew its holdings in Chegg by 54.0% during the fourth quarter. Ameriprise Financial Inc. now owns 266,655 shares of the technology company's stock valued at $429,000 after purchasing an additional 93,528 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Chegg by 78.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,670,399 shares of the technology company's stock valued at $1,068,000 after purchasing an additional 736,239 shares during the last quarter. Millennium Management LLC grew its holdings in Chegg by 35.7% during the fourth quarter. Millennium Management LLC now owns 1,874,158 shares of the technology company's stock valued at $3,017,000 after purchasing an additional 492,902 shares during the last quarter. ProShare Advisors LLC grew its holdings in Chegg by 51.2% during the fourth quarter. ProShare Advisors LLC now owns 28,360 shares of the technology company's stock valued at $46,000 after purchasing an additional 9,600 shares during the last quarter. Finally, Public Employees Retirement System of Ohio grew its holdings in Chegg by 54.7% during the fourth quarter. Public Employees Retirement System of Ohio now owns 99,256 shares of the technology company's stock valued at $160,000 after purchasing an additional 35,100 shares during the last quarter. Institutional investors and hedge funds own 95.18% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded Chegg from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Reduce" and a consensus price target of $1.70.

Chegg Stock Performance

Shares of NYSE CHGG opened at $1.67 on Friday. The stock has a market cap of $180.37 million, a PE ratio of -0.64 and a beta of 1.85. The business has a fifty day moving average of $1.39 and a two-hundred day moving average of $1.09. Chegg, Inc. has a 52-week low of $0.44 and a 52-week high of $2.73.

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.

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