After grabbing 6.87 million shares, the institutional investor is now in possession of 6.87 million shares of the Consumer Defensive Company. The new investment brought the stake of investor firm to 5.93% having worth around $68.22 million. Moreover, D. E. Shaw & Co. LP increased its share by 1.23 million to have a control over 4.69 million shares. And Jacobs Levy Equity Management, In raised its holdings to 0.34 million shares by acquiring 2.66 million shares or 2.30% of the stake.
Chegg Inc (CHGG) concluded trading on 01/04/24 at a closing price of $10.68, with 4.81 million shares of worth about $51.36 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 23.33% during that period and on Thursday the price saw a loss of about -3.52%. Currently the company’s common shares owned by public are about 126.47M shares, out of which, 111.77M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 16 analysts are covering the CHGG stock and their offered price forecasts bring an average price target of $10.25. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $13.00 and could fall to a lowest price of $8.00. The stock’s current price level is -4.2% below of average price target set by the analysts, while a dip to estimated low would result in loss of -33.5% for the stock. However, touching the estimated high of $13.00 would mean a gain of 17.85% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 77 times over the past 12 months. They bought 791,053 shares in 20 of the transactions. In 57 selling transactions, insiders dumped 191,493 shares.
St. James’s Place Unit Trust – Gl, Vanguard Total Stock Market ETF, and Vanguard US Growth Fund are the top 3 mutual funds which are holding stakes in Chegg Inc St. James’s Place Unit Trust – Gl is currently holding 3.49 million shares of worth totaling $34.63 million. The company recently came buying 1.34 million shares which brought its stake up to 3.01% of the company’s outstanding shares. Vanguard US Growth Fund, after selling 3.07 million shares, have now control over 2.65% of the stake in the company. It holds -0.49 million shares of worth $30.47 million.
Chegg Inc (NYSE: CHGG) started trading at $11.10, above $0.03 from concluding price of the previous day. However, the stock later moved at a day high price of 11.11, or with a loss of -3.52%. Stock saw a price change of -5.40% in past 5 days and over the past one month there was a price change of 3.99%. Year-to-date (YTD), CHGG shares are showing a performance of -5.99% which decreased to -57.97% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $7.32 but also hit the highest price of $26.67 during that period. The average intraday trading volume for Chegg Inc shares is 2.46 million. The stock is currently trading -2.40% below its 20-day simple moving average (SMA20), while that difference is up 8.17% for SMA50 and it goes to -0.44% lower than SMA200.
Sylebra Capital LLC acquired 6.87 million shares of Chegg Inc having value of about $68.22 million. Chegg Inc (NYSE: CHGG) currently have 126.47M outstanding shares and institutions hold larger chunk of about 88.08% of that. Holding of mutual funds in the company is about 42.77% while other institutional holders and individual stake holders have control over 45.36% and 35.26% of the stake respectively.
The stock has a current market capitalization of $1.24B and its 3Y-monthly beta is at 1.33. It has posted earnings per share of -$0.24 in the same period. It has Quick Ratio of 2.31 while making debt-to-equity ratio of 0.60. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CHGG, volatility over the week remained 3.48% while standing at 3.90% over the month.
Analysts are in expectations that Chegg Inc (CHGG) stock would likely to be making an EPS of $0.36 in the current quarter, while forecast for next quarter EPS is $0.3 and it is $1.16 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.29 which is $0.44 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.4 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -10.03% while it is estimated to increase by 3.24% in next year.
Analysts at 16 brokerage firms have issued recommendations for the Chegg Inc (CHGG)’s stock and average of those rates the stock at a “Hold” and assign it a score of 3.12. Out of those 16 Wall Street analysts, 1 recommended a “Buy” rating, while 13 were in favor recommending the stock as a “Hold” and 2 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Morgan Stanley on November 20, 2023 offering an Underweight rating for the stock and assigned a target price range of between $10 and $9 to it.
