Connor Clark & Lunn Investment Management Ltd. Has $2.73 Million Stock Holdings in Chegg, Inc. (NYSE:CHGG)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Chegg, Inc. (NYSE:CHGG) by 20.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,694,522 shares of the technology company’s stock after buying an additional 291,902 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 1.62% of Chegg worth $2,728,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. XTX Topco Ltd increased its holdings in Chegg by 384.4% during the 3rd quarter. XTX Topco Ltd now owns 394,152 shares of the technology company’s stock worth $698,000 after purchasing an additional 312,780 shares in the last quarter. Geode Capital Management LLC grew its holdings in Chegg by 1.2% during the third quarter. Geode Capital Management LLC now owns 2,315,187 shares of the technology company’s stock worth $4,099,000 after buying an additional 26,574 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Chegg by 14.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 911,333 shares of the technology company’s stock valued at $1,613,000 after buying an additional 118,403 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Chegg by 389.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 100,774 shares of the technology company’s stock valued at $178,000 after acquiring an additional 80,183 shares in the last quarter. Finally, Private Advisor Group LLC purchased a new position in Chegg during the 4th quarter worth $82,000. 95.18% of the stock is owned by institutional investors.

Chegg Price Performance

Chegg stock opened at $0.78 on Tuesday. The business’s 50 day simple moving average is $1.34 and its 200 day simple moving average is $1.66. Chegg, Inc. has a 12 month low of $0.75 and a 12 month high of $8.15. The company has a market cap of $82.30 million, a price-to-earnings ratio of -0.10 and a beta of 1.52. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.31.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CHGG shares. Morgan Stanley reissued an “underweight” rating and set a $1.25 price target (down from $2.00) on shares of Chegg in a research report on Tuesday, January 14th. Piper Sandler cut their target price on Chegg from $1.50 to $1.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 25th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Chegg in a research report on Tuesday, February 25th. Three research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $2.08.

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.