827,450 Shares in Chegg, Inc. $CHGG Acquired by GSA Capital Partners LLP

GSA Capital Partners LLP bought a new position in shares of Chegg, Inc. (NYSE:CHGG) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 827,450 shares of the technology company’s stock, valued at approximately $836,000.

Other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC boosted its holdings in shares of Chegg by 95.9% in the first quarter. AQR Capital Management LLC now owns 3,011,879 shares of the technology company’s stock valued at $1,925,000 after buying an additional 1,474,640 shares during the period. Empowered Funds LLC raised its holdings in shares of Chegg by 8.5% during the first quarter. Empowered Funds LLC now owns 424,563 shares of the technology company’s stock worth $271,000 after acquiring an additional 33,269 shares during the period. Strs Ohio acquired a new stake in shares of Chegg during the first quarter worth $56,000. Arrowstreet Capital Limited Partnership lifted its position in Chegg by 158.9% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,756,917 shares of the technology company’s stock valued at $4,546,000 after acquiring an additional 2,305,872 shares in the last quarter. Finally, Jump Financial LLC bought a new stake in Chegg in the 2nd quarter valued at $31,000. Institutional investors own 95.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Zacks Research lowered shares of Chegg from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Weiss Ratings upgraded Chegg from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce”.

Chegg Stock Performance

Shares of NYSE CHGG opened at $0.76 on Wednesday. The stock has a 50 day moving average price of $0.96 and a 200 day moving average price of $0.91. Chegg, Inc. has a 52 week low of $0.45 and a 52 week high of $1.90. The stock has a market capitalization of $84.83 million, a PE ratio of -1.56 and a beta of 2.17.

Chegg (NYSE:CHGG) last posted its quarterly earnings results on Thursday, August 6th. The technology company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. The firm had revenue of $51.85 million during the quarter, compared to the consensus estimate of $49.50 million. Chegg had a negative return on equity of 13.38% and a negative net margin of 19.96%. As a group, research analysts forecast that Chegg, Inc. will post -0.22 EPS for the current year.

Insider Buying and Selling at Chegg

In related news, Director Renee Varni Budig sold 54,347 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $0.78, for a total value of $42,390.66. Following the completion of the transaction, the director directly owned 376,311 shares of the company’s stock, valued at approximately $293,522.58. This trade represents a 12.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 3.00% of the company’s stock.

Chegg Company Profile

Chegg, Inc (NYSE: CHGG) is a leading education technology company headquartered in Santa Clara, California. Originally founded in 2005, Chegg has evolved from a textbook rental service into a comprehensive digital learning platform. Its suite of subscription-based offerings addresses a wide range of academic needs, catering primarily to high school and college students seeking homework help, study resources, and career guidance.

The company’s core services include Chegg Study, which provides step-by-step solutions and expert Q&A support; Chegg Writing, offering plagiarism checks and guided writing assistance; and Chegg Math Solver, a tool for solving mathematical problems with detailed explanations.