Mackenzie Financial Corp Sells 313,542 Shares of Chegg, Inc. (NYSE:CHGG)

Mackenzie Financial Corp decreased its position in shares of Chegg, Inc. (NYSE:CHGG - Free Report) by 51.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 290,588 shares of the technology company's stock after selling 313,542 shares during the quarter. Mackenzie Financial Corp owned about 0.28% of Chegg worth $468,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CHGG. Vanguard Group Inc. grew its position in shares of Chegg by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 9,765,268 shares of the technology company's stock valued at $15,722,000 after purchasing an additional 180,258 shares during the period. Quinn Opportunity Partners LLC lifted its stake in Chegg by 48.6% in the fourth quarter. Quinn Opportunity Partners LLC now owns 2,879,937 shares of the technology company's stock valued at $4,637,000 after buying an additional 941,410 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Chegg by 6.8% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 2,307,264 shares of the technology company's stock valued at $3,715,000 after buying an additional 147,441 shares during the period. Two Sigma Investments LP boosted its holdings in shares of Chegg by 8.2% in the fourth quarter. Two Sigma Investments LP now owns 2,254,234 shares of the technology company's stock valued at $3,629,000 after buying an additional 170,077 shares during the period. Finally, Two Sigma Advisers LP increased its position in shares of Chegg by 1.1% during the fourth quarter. Two Sigma Advisers LP now owns 2,088,900 shares of the technology company's stock worth $3,363,000 after acquiring an additional 22,100 shares in the last quarter. Institutional investors and hedge funds own 95.18% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Wall Street Zen started coverage on shares of Chegg in a research note on Thursday, April 17th. They issued a "hold" rating for the company. JPMorgan Chase & Co. restated an "underweight" rating on shares of Chegg in a report on Tuesday, April 8th. Piper Sandler reduced their price objective on Chegg from $1.50 to $1.00 and set an "underweight" rating for the company in a research report on Tuesday, February 25th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Chegg in a research report on Monday, May 12th. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $1.70.

Chegg Stock Up 33.5%

NYSE:CHGG traded up $0.41 on Friday, hitting $1.62. 22,703,804 shares of the company's stock were exchanged, compared to its average volume of 3,722,636. The firm has a 50-day moving average price of $0.74 and a 200-day moving average price of $1.25. Chegg, Inc. has a 52 week low of $0.44 and a 52 week high of $3.81. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market cap of $172.11 million, a P/E ratio of -0.20 and a beta of 1.75.

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.