Chegg Inc (NYSE:CHGG) CEO Sells $6,103,500.00 in Stock

Chegg Inc (NYSE:CHGG) CEO Daniel Rosensweig sold 150,000 shares of Chegg stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $40.69, for a total value of $6,103,500.00. Following the transaction, the chief executive officer now directly owns 2,322,754 shares in the company, valued at approximately $94,512,860.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Daniel Rosensweig also recently made the following trade(s):

  • On Monday, July 22nd, Daniel Rosensweig sold 158,251 shares of Chegg stock. The shares were sold at an average price of $43.02, for a total value of $6,807,958.02.
  • On Thursday, June 20th, Daniel Rosensweig sold 150,000 shares of Chegg stock. The shares were sold at an average price of $39.85, for a total value of $5,977,500.00.

CHGG stock traded down $0.53 during midday trading on Friday, hitting $40.33. The company’s stock had a trading volume of 208,682 shares, compared to its average volume of 1,731,200. The stock’s 50-day moving average price is $42.91 and its 200 day moving average price is $39.26. The company has a quick ratio of 13.22, a current ratio of 13.22 and a debt-to-equity ratio of 1.90. Chegg Inc has a 1 year low of $22.67 and a 1 year high of $48.22. The stock has a market cap of $4.89 billion, a price-to-earnings ratio of 448.11, a PEG ratio of 5.48 and a beta of 0.99.

Chegg (NYSE:CHGG) last posted its quarterly earnings data on Monday, July 29th. The technology company reported $0.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.06. Chegg had a positive return on equity of 7.12% and a negative net margin of 4.07%. The business had revenue of $93.90 million for the quarter, compared to analysts’ expectations of $92.44 million. During the same quarter in the previous year, the firm earned $0.12 earnings per share. The business’s revenue was up 26.5% on a year-over-year basis. As a group, equities analysts forecast that Chegg Inc will post 0.25 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the business. DE Burlo Group Inc. purchased a new position in shares of Chegg during the 1st quarter valued at $4,723,000. NJ State Employees Deferred Compensation Plan lifted its position in shares of Chegg by 6.7% during the 2nd quarter. NJ State Employees Deferred Compensation Plan now owns 16,000 shares of the technology company’s stock valued at $617,000 after buying an additional 1,000 shares during the last quarter. California Public Employees Retirement System lifted its position in shares of Chegg by 68.5% during the 1st quarter. California Public Employees Retirement System now owns 121,018 shares of the technology company’s stock valued at $4,613,000 after buying an additional 49,193 shares during the last quarter. First Mercantile Trust Co. lifted its position in shares of Chegg by 61.1% during the 1st quarter. First Mercantile Trust Co. now owns 20,431 shares of the technology company’s stock valued at $778,000 after buying an additional 7,745 shares during the last quarter. Finally, SeaTown Holdings Pte. Ltd. lifted its position in shares of Chegg by 435.6% during the 1st quarter. SeaTown Holdings Pte. Ltd. now owns 64,271 shares of the technology company’s stock valued at $2,450,000 after buying an additional 52,271 shares during the last quarter.

Several brokerages recently issued reports on CHGG. Morgan Stanley lifted their target price on Chegg from $37.00 to $40.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 30th. Jefferies Financial Group lifted their target price on Chegg from $40.00 to $46.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Barrington Research boosted their price objective on Chegg from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. boosted their price objective on Chegg from $43.00 to $49.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, Craig Hallum boosted their price objective on Chegg from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $44.18.

Chegg Company Profile

Chegg, Inc operates direct-to-student learning platform that supports students on their journey from high school to college and into their career with tools designed to help them pass their test, pass their class, and save money on required materials. The company offers Chegg Services, which include digital products and services; and required materials that comprise its print textbooks and eTextbooks.

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