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

Susquehanna Fundamental Investments 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 fund acquired 347,315 shares of the technology company's stock, valued at approximately $559,000. Susquehanna Fundamental Investments LLC owned about 0.33% of Chegg at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CHGG. Voss Capital LP purchased a new position in Chegg in the 4th quarter worth approximately $2,874,000. Knightsbridge Asset Management LLC bought a new position in shares of Chegg during the fourth quarter valued at $2,055,000. Arrowstreet Capital Limited Partnership boosted 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 valued at $2,357,000 after buying an additional 1,042,136 shares during the last quarter. Quinn Opportunity Partners LLC increased its holdings in Chegg by 48.6% in the 4th quarter. Quinn Opportunity Partners LLC now owns 2,879,937 shares of the technology company's stock worth $4,637,000 after buying an additional 941,410 shares in the last quarter. Finally, Renaissance Technologies LLC raised 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 worth $2,940,000 after buying an additional 417,000 shares during the last quarter. 95.18% of the stock is owned by institutional investors.

Chegg Price Performance

NYSE:CHGG traded down $0.01 on Wednesday, reaching $0.71. 2,051,834 shares of the company's stock traded hands, compared to its average volume of 3,670,987. The stock has a 50-day simple moving average of $0.68 and a 200-day simple moving average of $1.36. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.31. Chegg, Inc. has a 12 month low of $0.44 and a 12 month high of $5.22. The firm has a market cap of $74.82 million, a PE ratio of -0.09 and a beta of 1.75.

Wall Street Analysts Forecast Growth

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