Chegg, Inc. (NYSE:CHGG) insider Andrew J. Brown sold 100,000 shares of Chegg stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $14.00, for a total value of $1,400,000.00. Following the completion of the sale, the insider now owns 678,760 shares in the company, valued at $9,502,640. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Chegg, Inc. (CHGG) traded up 1.83% on Tuesday, hitting $13.92. The stock had a trading volume of 1,317,770 shares. The company has a 50-day moving average price of $12.10 and a 200 day moving average price of $9.12. Chegg, Inc. has a 52-week low of $5.28 and a 52-week high of $14.14. The firm’s market cap is $1.31 billion.
Chegg (NYSE:CHGG) last issued its quarterly earnings data on Thursday, May 4th. The technology company reported $0.06 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $62.60 million during the quarter, compared to analyst estimates of $58.46 million. During the same quarter in the prior year, the business posted ($0.03) EPS. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. Equities analysts forecast that Chegg, Inc. will post $0.22 earnings per share for the current fiscal year.
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Several hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Chegg during the fourth quarter valued at approximately $6,251,000. Ashford Capital Management Inc. raised its stake in shares of Chegg by 30.8% in the first quarter. Ashford Capital Management Inc. now owns 2,193,224 shares of the technology company’s stock valued at $18,511,000 after buying an additional 516,374 shares in the last quarter. Pier Capital LLC acquired a new stake in shares of Chegg during the first quarter valued at approximately $2,988,000. Russell Investments Group Ltd. acquired a new stake in shares of Chegg during the fourth quarter valued at approximately $2,484,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of Chegg by 223.2% in the first quarter. Goldman Sachs Group Inc. now owns 412,052 shares of the technology company’s stock valued at $3,478,000 after buying an additional 284,557 shares in the last quarter. Hedge funds and other institutional investors own 77.35% of the company’s stock.
Several equities research analysts recently weighed in on the company. ValuEngine upgraded Chegg from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research lowered Chegg from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Jefferies Group LLC restated a “buy” rating and set a $13.00 price target on shares of Chegg in a research report on Friday, June 23rd. Barrington Research restated an “outperform” rating on shares of Chegg in a research report on Friday, June 23rd. Finally, BMO Capital Markets restated an “outperform” rating and set a $12.00 price target (up from $10.00) on shares of Chegg in a research report on Wednesday, May 3rd. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $11.08.
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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