Susquehanna Fundamental Investments LLC Takes $559,000 Position in Chegg, Inc. (NYSE:CHGG)

Susquehanna Fundamental Investments LLC bought a new stake in shares of Chegg, Inc. (NYSE:CHGG - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 347,315 shares of the technology company's stock, valued at approximately $559,000. Susquehanna Fundamental Investments LLC owned about 0.33% of Chegg as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the stock. Voss Capital LP bought a new position in shares of Chegg during the 4th quarter valued at about $2,874,000. Knightsbridge Asset Management LLC acquired a new position in shares of Chegg in the fourth quarter valued at approximately $2,055,000. Arrowstreet Capital Limited Partnership increased its position in shares of Chegg by 247.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,464,022 shares of the technology company's stock worth $2,357,000 after acquiring an additional 1,042,136 shares in the last quarter. Quinn Opportunity Partners LLC raised its holdings in shares of Chegg by 48.6% during the fourth quarter. Quinn Opportunity Partners LLC now owns 2,879,937 shares of the technology company's stock worth $4,637,000 after acquiring an additional 941,410 shares during the period. Finally, Renaissance Technologies LLC lifted its position in Chegg by 29.6% in the 4th quarter. Renaissance Technologies LLC now owns 1,826,100 shares of the technology company's stock valued at $2,940,000 after acquiring an additional 417,000 shares in the last quarter. Institutional investors and hedge funds own 95.18% of the company's stock.

Chegg Stock Performance

NYSE:CHGG traded up $0.03 during mid-day trading on Friday, hitting $0.75. 2,680,404 shares of the stock were exchanged, compared to its average volume of 3,665,101. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.91 and a current ratio of 0.91. The firm's 50-day simple moving average is $0.66 and its 200 day simple moving average is $1.35. Chegg, Inc. has a fifty-two week low of $0.44 and a fifty-two week high of $5.03. The stock has a market capitalization of $79.03 million, a price-to-earnings ratio of -0.09 and a beta of 1.75.

Analysts Set New Price Targets

Several research firms have recently weighed in on CHGG. StockNews.com began coverage on Chegg in a research report on Thursday, April 17th. They set a "hold" rating for the company. Needham & Company LLC restated a "hold" rating on shares of Chegg in a research note on Tuesday, February 25th. Piper Sandler cut their target price on shares of Chegg from $1.50 to $1.00 and set an "underweight" rating for the company in a research note on Tuesday, February 25th. Morgan Stanley reissued an "underweight" rating and set a $1.25 price target (down previously from $2.00) on shares of Chegg in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. reiterated an "underweight" rating on shares of Chegg in a research note on Tuesday, April 8th. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $1.70.

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.