First Eagle Investment Management LLC Makes New Investment in Chegg, Inc. (NYSE:CHGG)

First Eagle Investment Management LLC acquired a new stake in shares of Chegg, Inc. (NYSE:CHGG - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 293,068 shares of the technology company's stock, valued at approximately $3,329,000. First Eagle Investment Management LLC owned about 0.25% of Chegg as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Headlands Technologies LLC purchased a new stake in shares of Chegg during the 4th quarter valued at about $48,000. Moors & Cabot Inc. bought a new position in Chegg in the third quarter worth approximately $98,000. Shell Asset Management Co. boosted its stake in shares of Chegg by 48.8% during the 3rd quarter. Shell Asset Management Co. now owns 11,423 shares of the technology company's stock worth $102,000 after acquiring an additional 3,748 shares during the last quarter. CI Investments Inc. bought a new stake in shares of Chegg during the 3rd quarter valued at $139,000. Finally, Sherbrooke Park Advisers LLC grew its position in shares of Chegg by 62.7% during the 3rd quarter. Sherbrooke Park Advisers LLC now owns 16,592 shares of the technology company's stock valued at $148,000 after acquiring an additional 6,392 shares during the period. Institutional investors own 95.18% of the company's stock.

Analysts Set New Price Targets

CHGG has been the topic of several analyst reports. Piper Sandler Companies lowered Chegg to an "underweight" rating and cut their price target for the company from $9.00 to $8.50 in a report on Tuesday, February 6th. Piper Sandler reaffirmed an "underweight" rating and set a $6.00 price target (down previously from $8.50) on shares of Chegg in a report on Tuesday, April 30th. BMO Capital Markets reduced their price objective on shares of Chegg from $11.00 to $10.00 and set a "market perform" rating for the company in a research note on Tuesday, February 6th. Needham & Company LLC restated a "hold" rating on shares of Chegg in a research note on Tuesday, April 30th. Finally, JPMorgan Chase & Co. decreased their price target on Chegg from $10.00 to $9.00 and set a "neutral" rating on the stock in a report on Tuesday, February 6th. Five research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Chegg has an average rating of "Hold" and a consensus target price of $7.31.

Chegg Price Performance

NYSE:CHGG traded down $0.22 during trading hours on Friday, reaching $4.38. The stock had a trading volume of 4,114,555 shares, compared to its average volume of 4,166,202. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market capitalization of $447.71 million, a PE ratio of -23.05, a PEG ratio of 0.86 and a beta of 1.35. Chegg, Inc. has a 52 week low of $4.37 and a 52 week high of $13.11. The company has a 50 day moving average price of $6.69 and a two-hundred day moving average price of $8.74.

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.