Chegg, Inc. (NYSE:CHGG) CEO Daniel Rosensweig sold 200,000 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $14.03, for a total value of $2,806,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Chegg, Inc. (CHGG) opened at $14.04 on Tuesday. Chegg, Inc. has a 1-year low of $6.84 and a 1-year high of $16.50.
Chegg (NYSE:CHGG) last posted its quarterly earnings data on Monday, October 30th. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. The firm had revenue of $62.60 million for the quarter, compared to the consensus estimate of $57.75 million. Chegg had a negative return on equity of 5.06% and a negative net margin of 10.40%. The company’s quarterly revenue was down 12.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.17) EPS. equities analysts expect that Chegg, Inc. will post -0.1 EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently modified their holdings of CHGG. Bank of New York Mellon Corp increased its holdings in Chegg by 7.7% during the 1st quarter. Bank of New York Mellon Corp now owns 330,216 shares of the technology company’s stock worth $2,787,000 after purchasing an additional 23,586 shares during the period. UBS Asset Management Americas Inc. increased its holdings in Chegg by 137.8% during the 1st quarter. UBS Asset Management Americas Inc. now owns 26,874 shares of the technology company’s stock worth $227,000 after purchasing an additional 15,574 shares during the period. Parametric Portfolio Associates LLC increased its holdings in Chegg by 58.0% during the 1st quarter. Parametric Portfolio Associates LLC now owns 43,235 shares of the technology company’s stock worth $365,000 after purchasing an additional 15,877 shares during the period. American International Group Inc. increased its holdings in Chegg by 7.1% during the 1st quarter. American International Group Inc. now owns 49,563 shares of the technology company’s stock worth $418,000 after purchasing an additional 3,265 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in Chegg by 7.2% during the 1st quarter. Principal Financial Group Inc. now owns 13,743 shares of the technology company’s stock worth $116,000 after purchasing an additional 926 shares during the period. Institutional investors own 86.50% of the company’s stock.
Several brokerages have recently commented on CHGG. Zacks Investment Research raised Chegg from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Friday, July 28th. Lake Street Capital lowered Chegg from a “buy” rating to a “hold” rating and upped their price target for the company from $12.00 to $14.00 in a research note on Wednesday, July 26th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $18.00 price target (up previously from $16.00) on shares of Chegg in a research note on Wednesday, July 26th. BidaskClub raised Chegg from a “hold” rating to a “buy” rating in a research note on Tuesday, October 31st. Finally, First Analysis lowered Chegg from an “overweight” rating to an “equal weight” rating and set a $18.00 price target on the stock. in a research note on Tuesday, October 31st. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $15.09.
Chegg Company Profile
Chegg, Inc is a student-first connected learning platform. The Company helps students study for college admission exams, find the colleges, get grades and test scores while in school, and find internships that allow them to gain skills to help them enter the workforce after college. The Company matches domestic and international students with colleges, universities and other academic institutions (collectively referred to as colleges) in the United States.
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