Chegg Inc (NYSE:CHGG) insider Nathan J. Schultz sold 66,666 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $20.02, for a total value of $1,334,653.32. Following the completion of the transaction, the insider now directly owns 578,878 shares of the company’s stock, valued at $11,589,137.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Chegg Inc (CHGG) opened at $20.35 on Friday. Chegg Inc has a twelve month low of $7.81 and a twelve month high of $20.78.
Chegg (NYSE:CHGG) last announced its quarterly earnings data on Monday, February 12th. The technology company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.02. Chegg had a negative return on equity of 2.64% and a negative net margin of 7.95%. The business had revenue of $73.51 million during the quarter, compared to analyst estimates of $70.61 million. During the same period in the prior year, the company earned $0.10 earnings per share. Chegg’s revenue was up 16.5% compared to the same quarter last year. research analysts forecast that Chegg Inc will post 0.11 EPS for the current year.
Several equities analysts have recently issued reports on CHGG shares. BMO Capital Markets reaffirmed a “buy” rating and issued a $20.00 target price on shares of Chegg in a report on Wednesday, January 17th. Barrington Research reaffirmed an “outperform” rating and issued a $19.00 target price (up from $17.00) on shares of Chegg in a report on Tuesday, October 31st. Zacks Investment Research raised Chegg from a “sell” rating to a “hold” rating in a report on Friday, November 3rd. JPMorgan Chase & Co. increased their price objective on Chegg from $15.00 to $18.00 and gave the company an “overweight” rating in a report on Wednesday, November 1st. Finally, First Analysis lowered 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. Chegg currently has an average rating of “Buy” and an average price target of $17.09.
Hedge funds and other institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. purchased a new stake in shares of Chegg during the second quarter worth $104,000. Great West Life Assurance Co. Can lifted its position in shares of Chegg by 106.2% during the third quarter. Great West Life Assurance Co. Can now owns 7,359 shares of the technology company’s stock worth $108,000 after acquiring an additional 3,790 shares in the last quarter. Stifel Financial Corp purchased a new stake in shares of Chegg during the second quarter worth $116,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Chegg during the third quarter worth $161,000. Finally, Xact Kapitalforvaltning AB purchased a new stake in shares of Chegg during the fourth quarter worth $169,000.
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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