Wealth Enhancement Advisory Services LLC Grows Stake in Chegg, Inc. $CHGG

Wealth Enhancement Advisory Services LLC grew its position in Chegg, Inc. (NYSE:CHGG) by 101.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 30,861 shares of the technology company’s stock after buying an additional 15,549 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Chegg were worth $37,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CHGG. Quantbot Technologies LP purchased a new position in Chegg in the first quarter worth about $28,000. Cerity Partners LLC raised its holdings in Chegg by 226.6% in the first quarter. Cerity Partners LLC now owns 45,208 shares of the technology company’s stock worth $29,000 after buying an additional 31,366 shares during the last quarter. CW Advisors LLC purchased a new position in Chegg in the first quarter worth about $32,000. Wealthfront Advisers LLC raised its holdings in Chegg by 586.4% in the first quarter. Wealthfront Advisers LLC now owns 63,885 shares of the technology company’s stock worth $41,000 after buying an additional 54,578 shares during the last quarter. Finally, Hsbc Holdings PLC raised its stake in shares of Chegg by 45.7% in the first quarter. Hsbc Holdings PLC now owns 73,152 shares of the technology company’s stock worth $46,000 after purchasing an additional 22,946 shares during the last quarter. 95.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Zacks Research cut Chegg from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Weiss Ratings restated a “sell (e+)” rating on shares of Chegg in a research note on Wednesday, October 8th. Five research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, Chegg has an average rating of “Reduce” and an average target price of $1.70.

Chegg Stock Performance

Chegg stock opened at $1.29 on Monday. The stock has a market cap of $139.20 million, a PE ratio of -0.49 and a beta of 1.90. Chegg, Inc. has a one year low of $0.44 and a one year high of $2.73. The stock has a fifty day moving average of $1.42 and a 200 day moving average of $1.17.

About Chegg

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.