Chegg, Inc. (NYSE:CHGG) CEO Daniel Rosensweig sold 200,000 shares of the company’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $14.03, for a total transaction of $2,806,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Chegg, Inc. (CHGG) traded up $0.10 during mid-day trading on Monday, hitting $14.09. 620,900 shares of the stock traded hands, compared to its average volume of 1,001,149. Chegg, Inc. has a twelve month low of $6.84 and a twelve month high of $16.50.
Chegg (NYSE:CHGG) last released its quarterly earnings results on Monday, October 30th. The technology company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.02. The business had revenue of $62.60 million for the quarter, compared to analyst estimates of $57.75 million. Chegg had a negative net margin of 10.40% and a negative return on equity of 5.06%. The company’s quarterly revenue was down 12.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.17) earnings per share. sell-side analysts predict that Chegg, Inc. will post -0.1 EPS for the current fiscal year.
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Several brokerages have weighed in on CHGG. Zacks Investment Research lowered shares of Chegg from a “buy” rating to a “hold” rating in a research report on Monday, September 25th. BidaskClub lowered shares of Chegg from a “buy” rating to a “hold” rating in a research report on Friday. Jefferies Group LLC restated a “buy” rating and set a $17.00 target price on shares of Chegg in a research report on Thursday, September 7th. First Analysis lowered shares of Chegg from an “overweight” rating to an “equal weight” rating and set a $18.00 target price on the stock. in a research report on Tuesday, October 31st. Finally, Northland Securities restated a “buy” rating and set a $18.00 target price on shares of Chegg in a research report on Wednesday, November 1st. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $15.09.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. OxFORD Asset Management LLP lifted its stake in shares of Chegg by 95.3% during the third quarter. OxFORD Asset Management LLP now owns 171,074 shares of the technology company’s stock valued at $2,532,000 after buying an additional 83,458 shares during the period. Westfield Capital Management Co. LP lifted its stake in shares of Chegg by 1.1% during the third quarter. Westfield Capital Management Co. LP now owns 853,035 shares of the technology company’s stock valued at $12,659,000 after buying an additional 8,985 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in shares of Chegg by 54.1% during the third quarter. Schwab Charles Investment Management Inc. now owns 390,009 shares of the technology company’s stock valued at $5,788,000 after buying an additional 136,872 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Chegg by 954.4% during the third quarter. Wells Fargo & Company MN now owns 702,610 shares of the technology company’s stock valued at $10,427,000 after buying an additional 635,976 shares during the period. Finally, 1492 Capital Management LLC purchased a new position in shares of Chegg during the third quarter valued at approximately $453,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.
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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