Baader Bank Aktiengesellschaft Buys 299,428 Shares of Chegg, Inc. (NYSE:CHGG)

Baader Bank Aktiengesellschaft raised its stake in Chegg, Inc. (NYSE:CHGG) by 99.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 600,001 shares of the technology company’s stock after purchasing an additional 299,428 shares during the period. Baader Bank Aktiengesellschaft’s holdings in Chegg were worth $384,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. Virtus Fund Advisers LLC bought a new position in Chegg in the fourth quarter worth $28,000. Cerity Partners LLC raised its stake in shares of Chegg by 226.6% in the 1st quarter. Cerity Partners LLC now owns 45,208 shares of the technology company’s stock valued at $29,000 after buying an additional 31,366 shares in the last quarter. Wealthfront Advisers LLC lifted its holdings in shares of Chegg by 586.4% during the 1st quarter. Wealthfront Advisers LLC now owns 63,885 shares of the technology company’s stock worth $41,000 after acquiring an additional 54,578 shares during the period. ProShare Advisors LLC boosted its position 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 acquiring an additional 9,600 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its position in shares of Chegg by 107.5% during the 4th quarter. MetLife Investment Management LLC now owns 36,967 shares of the technology company’s stock valued at $60,000 after acquiring an additional 19,153 shares in the last quarter. Institutional investors own 95.18% of the company’s stock.

Chegg Stock Performance

NYSE CHGG opened at $1.34 on Thursday. Chegg, Inc. has a 1-year low of $0.44 and a 1-year high of $3.59. The company has a 50 day moving average of $1.33 and a 200-day moving average of $1.10. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.34. The firm has a market cap of $142.80 million, a price-to-earnings ratio of -0.16 and a beta of 1.82.

Analyst Ratings Changes

CHGG has been the subject of a number of analyst reports. JPMorgan Chase & Co. restated an “underweight” rating on shares of Chegg in a research note on Tuesday, April 8th. Needham & Company LLC restated a “hold” rating on shares of Chegg in a research report on Monday, May 12th. Finally, Wall Street Zen assumed coverage on Chegg in a research note on Thursday, April 17th. They issued a “hold” rating on the stock. Three analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $1.70.

Chegg 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.