Chegg Inc (NYSE:CHGG) CMO Esther Lem sold 30,000 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $16.43, for a total transaction of $492,900.00. Following the completion of the sale, the chief marketing officer now owns 515,120 shares of the company’s stock, valued at $8,463,421.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Esther Lem also recently made the following trade(s):
- On Monday, December 18th, Esther Lem sold 10,000 shares of Chegg stock. The shares were sold at an average price of $16.19, for a total transaction of $161,900.00.
- On Wednesday, December 20th, Esther Lem sold 20,000 shares of Chegg stock. The shares were sold at an average price of $16.35, for a total transaction of $327,000.00.
- On Wednesday, December 6th, Esther Lem sold 10,000 shares of Chegg stock. The shares were sold at an average price of $14.36, for a total transaction of $143,600.00.
Chegg Inc (NYSE CHGG) opened at $16.79 on Friday. Chegg Inc has a 12-month low of $6.84 and a 12-month high of $17.04.
Chegg (NYSE:CHGG) last released its quarterly earnings results on Monday, October 30th. The technology company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. Chegg had a negative net margin of 10.40% and a negative return on equity of 5.06%. The company had revenue of $62.60 million for the quarter, compared to analyst estimates of $57.75 million. During the same period last year, the firm earned ($0.17) earnings per share. The firm’s revenue was down 12.2% on a year-over-year basis. sell-side analysts forecast that Chegg Inc will post -0.09 earnings per share for the current year.
A number of brokerages have recently issued reports on CHGG. Barrington Research reiterated an “outperform” rating and set a $19.00 price objective (up from $17.00) on shares of Chegg in a report on Tuesday, October 31st. First Analysis cut shares of Chegg from an “overweight” rating to an “equal weight” rating and set a $18.00 price objective for the company. in a report on Tuesday, October 31st. BidaskClub upgraded shares of Chegg from a “hold” rating to a “buy” rating in a report on Tuesday, October 31st. JPMorgan Chase & Co. lifted their price objective on shares of Chegg from $15.00 to $18.00 and gave the company an “overweight” rating in a report on Wednesday, November 1st. Finally, Northland Securities reiterated a “buy” rating and set a $18.00 price objective on shares of Chegg in a report on Wednesday, November 1st. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $15.42.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Gilder Gagnon Howe & Co. LLC lifted its position in shares of Chegg by 56.3% during the third quarter. Gilder Gagnon Howe & Co. LLC now owns 7,042,911 shares of the technology company’s stock valued at $104,517,000 after purchasing an additional 2,538,026 shares in the last quarter. Sylebra HK Co Ltd lifted its position in shares of Chegg by 3.8% during the third quarter. Sylebra HK Co Ltd now owns 6,956,896 shares of the technology company’s stock valued at $103,240,000 after purchasing an additional 257,847 shares in the last quarter. Vanguard Group Inc. raised its position in Chegg by 22.7% in the second quarter. Vanguard Group Inc. now owns 3,232,947 shares of the technology company’s stock worth $39,733,000 after acquiring an additional 597,063 shares during the period. Emerald Advisers Inc. PA raised its position in Chegg by 11.4% in the third quarter. Emerald Advisers Inc. PA now owns 2,799,392 shares of the technology company’s stock worth $41,543,000 after acquiring an additional 287,498 shares during the period. Finally, Fred Alger Management Inc. bought a new stake in Chegg in the second quarter worth about $31,014,000.
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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