Nuveen LLC Acquires New Shares in Chegg, Inc. $CHGG

Key Points

• Nuveen LLC has acquired a new stake in Chegg, Inc. valued at approximately $174,000, increasing its ownership to about 0.26% of the company.
• Chegg's share ratings vary, with one strong buy, four hold, and three sell ratings, leading to a consensus rating of "Reduce" and an average target price of $1.70.
• The company has a market cap of $184.70 million and has seen its stock price fluctuate between a 52-week low of $0.44 and a high of $2.73.

Nuveen LLC acquired a new stake in Chegg, Inc. (NYSE:CHGG - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 271,722 shares of the technology company's stock, valued at approximately $174,000. Nuveen LLC owned about 0.26% of Chegg at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CHGG. Virtus Fund Advisers LLC acquired a new stake in shares of Chegg in the 4th quarter valued at $28,000. Cerity Partners LLC lifted its stake in shares of Chegg by 226.6% in the 1st quarter. Cerity Partners LLC now owns 45,208 shares of the technology company's stock valued at $29,000 after purchasing an additional 31,366 shares during the last quarter. Wealthfront Advisers LLC lifted its stake in shares of Chegg by 586.4% in the 1st quarter. Wealthfront Advisers LLC now owns 63,885 shares of the technology company's stock valued at $41,000 after purchasing an additional 54,578 shares during the last quarter. ProShare Advisors LLC lifted its stake in shares of Chegg by 51.2% in the 4th 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, Jefferies Financial Group Inc. lifted its stake in shares of Chegg by 382.9% in the 1st quarter. Jefferies Financial Group Inc. now owns 77,269 shares of the technology company's stock valued at $49,000 after purchasing an additional 61,269 shares during the last quarter. Institutional investors and hedge funds own 95.18% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on CHGG shares. Zacks Research raised shares of Chegg from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 13th. Needham & Company LLC reissued a "hold" rating on shares of Chegg in a research report on Monday, May 12th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Chegg currently has a consensus rating of "Reduce" and an average target price of $1.70.

Chegg Price Performance

Chegg stock opened at $1.71 on Friday. The firm has a market cap of $184.70 million, a price-to-earnings ratio of -0.65 and a beta of 1.85. Chegg, Inc. has a fifty-two week low of $0.44 and a fifty-two week high of $2.73. The firm has a fifty day moving average price of $1.35 and a two-hundred day moving average price of $1.06.

Chegg Company 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.

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