Universal Beteiligungs und Servicegesellschaft mbH Invests $387,000 in Chegg, Inc. (NYSE:CHGG)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH acquired 605,564 shares of Chegg, Inc. (NYSE:CHGG) in the first quarter, representing a stake of approximately 0.57% and valued at around $387,000.
• The majority of Chegg's stock, about 95.18%, is owned by hedge funds and institutional investors, with significant increases in holdings from several funds during the fourth and first quarters.
• Chegg stock opened at $1.29, with a market capitalization of $137.48 million and an average target price of $1.70 according to analysts, many of whom have assigned hold or sell ratings.

Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Chegg, Inc. (NYSE:CHGG - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 605,564 shares of the technology company's stock, valued at approximately $387,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.57% of Chegg at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Ameriprise Financial Inc. boosted its stake in Chegg by 54.0% in the fourth quarter. Ameriprise Financial Inc. now owns 266,655 shares of the technology company's stock valued at $429,000 after buying an additional 93,528 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Chegg during the fourth quarter worth $559,000. Arrowstreet Capital Limited Partnership boosted its position in Chegg by 247.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,464,022 shares of the technology company's stock worth $2,357,000 after purchasing an additional 1,042,136 shares during the last quarter. Millennium Management LLC lifted its position in shares of Chegg by 35.7% during the 4th quarter. Millennium Management LLC now owns 1,874,158 shares of the technology company's stock valued at $3,017,000 after buying an additional 492,902 shares during the last quarter. Finally, ProShare Advisors LLC raised its stake in shares of Chegg by 51.2% during 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 period. Institutional investors own 95.18% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on CHGG. Wall Street Zen started coverage on Chegg in a report on Thursday, April 17th. They issued a "hold" rating for the company. Needham & Company LLC reiterated a "hold" rating on shares of Chegg in a research report on Monday, May 12th. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $1.70.

Chegg Stock Performance

NYSE:CHGG traded up $0.02 during mid-day trading on Thursday, reaching $1.13. The stock had a trading volume of 1,518,735 shares, compared to its average volume of 3,368,599. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.23 and a current ratio of 1.23. The firm has a market capitalization of $119.89 million, a price-to-earnings ratio of -0.43 and a beta of 1.77. Chegg, Inc. has a twelve month low of $0.44 and a twelve month high of $2.73. The business has a 50 day simple moving average of $1.37 and a 200 day simple moving average of $1.09.

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.