Universal Beteiligungs und Servicegesellschaft mbH Buys Shares of 605,564 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 purchased a new position in shares of Chegg, Inc. (NYSE:CHGG - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 605,564 shares of the technology company's stock, valued at approximately $387,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.57% of Chegg at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Virtus Fund Advisers LLC purchased a new position in shares of Chegg during the fourth quarter valued at approximately $28,000. ProShare Advisors LLC lifted 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 worth $46,000 after purchasing an additional 9,600 shares during the period. MetLife Investment Management LLC boosted its holdings in shares of Chegg by 107.5% during the fourth quarter. MetLife Investment Management LLC now owns 36,967 shares of the technology company's stock worth $60,000 after purchasing an additional 19,153 shares during the last quarter. Cerity Partners LLC grew its position in shares of Chegg by 226.6% in the first 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 period. Finally, Hsbc Holdings PLC increased its stake in Chegg by 41.8% in the fourth quarter. Hsbc Holdings PLC now owns 50,206 shares of the technology company's stock valued at $81,000 after purchasing an additional 14,801 shares during the last quarter. 95.18% of the stock is currently owned by hedge funds and other institutional investors.

Chegg Stock Performance

NYSE CHGG opened at $1.29 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.23 and a quick ratio of 1.23. Chegg, Inc. has a 1-year low of $0.44 and a 1-year high of $3.08. The firm has a market capitalization of $137.48 million, a P/E ratio of -0.16 and a beta of 1.77. The business's 50-day simple moving average is $1.35 and its 200-day simple moving average is $1.09.

Analysts Set New Price Targets

A number of brokerages have issued reports on CHGG. Needham & Company LLC reissued a "hold" rating on shares of Chegg in a research note on Monday, May 12th. JPMorgan Chase & Co. reissued an "underweight" rating on shares of Chegg in a research report on Tuesday, April 8th. Finally, Wall Street Zen started coverage on shares of Chegg in a research report on Thursday, April 17th. They set a "hold" rating for the company. Three analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $1.70.

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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