Quent Capital LLC Purchases 7,892 Shares of Chegg, Inc. (NYSE:CHGG)

Quent Capital LLC grew its position in Chegg, Inc. (NYSE:CHGG) by 35.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,460 shares of the technology company’s stock after purchasing an additional 7,892 shares during the quarter. Quent Capital LLC’s holdings in Chegg were worth $96,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new position in shares of Chegg during the 1st quarter worth approximately $30,000. Headlands Technologies LLC bought a new position in shares of Chegg during the 4th quarter worth about $48,000. Quest Partners LLC acquired a new stake in shares of Chegg in the 4th quarter valued at about $114,000. Entropy Technologies LP bought a new stake in Chegg in the 1st quarter valued at about $90,000. Finally, Par Capital Management Inc. bought a new stake in Chegg in the 4th quarter valued at about $204,000. 95.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Chegg in a report on Tuesday. Northland Securities dropped their target price on Chegg from $7.00 to $6.00 and set a “market perform” rating on the stock in a report on Tuesday. Morgan Stanley decreased their price target on Chegg from $3.25 to $3.00 and set an “equal weight” rating for the company in a report on Tuesday. The Goldman Sachs Group raised shares of Chegg from a “sell” rating to a “neutral” rating and cut their price objective for the stock from $7.00 to $3.75 in a report on Tuesday. Finally, Piper Sandler reduced their target price on shares of Chegg from $6.00 to $2.00 and set an “underweight” rating for the company in a research note on Tuesday. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $5.92.

Chegg Stock Performance

NYSE CHGG traded down $0.66 during trading hours on Tuesday, reaching $2.28. 12,825,760 shares of the company were exchanged, compared to its average volume of 3,501,846. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $232.54 million, a P/E ratio of -11.97, a P/E/G ratio of 0.56 and a beta of 1.35. Chegg, Inc. has a 1 year low of $2.11 and a 1 year high of $13.11. The business’s 50 day simple moving average is $3.18 and its 200-day simple moving average is $5.91.

Chegg (NYSE:CHGG) last issued its quarterly earnings results on Monday, August 5th. The technology company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.03. The company had revenue of $163.10 million during the quarter, compared to analyst estimates of $160.02 million. Chegg had a net margin of 2.07% and a return on equity of 0.87%. Chegg’s quarterly revenue was down 10.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.01 EPS. On average, equities research analysts expect that Chegg, Inc. will post 0.28 earnings per share for the current year.

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.