Chegg, Inc. (NYSE:CHGG) insider Nathan J. Schultz sold 15,276 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $12.00, for a total value of $183,312.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of Chegg, Inc. (NYSE:CHGG) opened at 11.68 on Friday. The stock’s market cap is $1.10 billion. Chegg, Inc. has a 52 week low of $4.57 and a 52 week high of $13.00. The firm has a 50-day moving average price of $11.77 and a 200-day moving average price of $8.84.
Chegg (NYSE:CHGG) last released its earnings results on Thursday, May 4th. The technology company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. Chegg had a negative return on equity of 9.88% and a negative net margin of 13.18%. The company had revenue of $62.60 million for the quarter, compared to the consensus estimate of $58.46 million. During the same quarter last year, the business posted ($0.03) EPS. Chegg’s quarterly revenue was down 6.1% compared to the same quarter last year. On average, analysts forecast that Chegg, Inc. will post $0.22 earnings per share for the current fiscal year.
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Several equities research analysts recently weighed in on CHGG shares. Craig Hallum upgraded Chegg from a “hold” rating to a “buy” rating in a research note on Tuesday, April 4th. Northland Securities started coverage on Chegg in a research note on Tuesday, April 11th. They set an “outperform” rating and a $11.50 target price for the company. Raymond James Financial, Inc. upgraded Chegg from a “market perform” rating to an “outperform” rating and set a $12.00 target price for the company in a research note on Tuesday, May 2nd. Lake Street Capital restated a “buy” rating and set a $12.00 target price (up previously from $9.00) on shares of Chegg in a research note on Tuesday, May 2nd. Finally, Jefferies Group LLC boosted their target price on Chegg from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, May 2nd. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Chegg currently has an average rating of “Buy” and an average target price of $11.08.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHGG. US Bancorp DE increased its position in Chegg by 4.3% in the first quarter. US Bancorp DE now owns 11,868 shares of the technology company’s stock worth $100,000 after buying an additional 488 shares in the last quarter. Gilder Gagnon Howe & Co. LLC bought a new stake in shares of Chegg during the third quarter valued at about $105,000. Highbridge Capital Management LLC bought a new stake in shares of Chegg during the fourth quarter valued at about $110,000. Parkwood LLC increased its stake in shares of Chegg by 26.0% in the first quarter. Parkwood LLC now owns 13,077 shares of the technology company’s stock valued at $110,000 after buying an additional 2,701 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of Chegg by 7.2% in the first quarter. Principal Financial Group Inc. now owns 13,743 shares of the technology company’s stock valued at $116,000 after buying an additional 926 shares during the period. 79.29% of the stock is currently owned by institutional investors.
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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