Chegg, Inc. (NYSE:CHGG) CEO Daniel Rosensweig sold 200,000 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $14.03, for a total transaction of $2,806,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Chegg, Inc. (CHGG) opened at $14.25 on Thursday. Chegg, Inc. has a one year low of $6.84 and a one year high of $16.50.
Chegg (NYSE:CHGG) last issued its quarterly earnings data 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 firm had revenue of $62.60 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.17) earnings per share. analysts expect that Chegg, Inc. will post -0.1 earnings per share for the current year.
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Large investors have recently modified their holdings of the company. TIAA CREF Investment Management LLC raised its stake in shares of Chegg by 6.1% during the second quarter. TIAA CREF Investment Management LLC now owns 226,381 shares of the technology company’s stock valued at $2,782,000 after acquiring an additional 13,011 shares during the last quarter. Pier Capital LLC raised its stake in Chegg by 2.8% in the second quarter. Pier Capital LLC now owns 363,940 shares of the technology company’s stock worth $4,473,000 after buying an additional 9,853 shares in the last quarter. Summit Creek Advisors LLC bought a new position in Chegg in the third quarter worth about $2,557,000. Schwab Charles Investment Management Inc. raised its stake in Chegg by 4.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 229,459 shares of the technology company’s stock worth $1,937,000 after buying an additional 10,602 shares in the last quarter. Finally, Federated Investors Inc. PA bought a new position in Chegg in the second quarter worth about $486,000. 86.50% of the stock is owned by hedge funds and other institutional investors.
Several research firms have issued reports on CHGG. Zacks Investment Research upgraded shares of Chegg from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research report on Friday, July 28th. Lake Street Capital lowered shares of Chegg from a “buy” rating to a “hold” rating and upped their price target for the company from $12.00 to $14.00 in a research report on Wednesday, July 26th. BMO Capital Markets restated an “outperform” rating and set a $18.00 price target (up from $16.00) on shares of Chegg in a research report on Wednesday, July 26th. BidaskClub upgraded shares of Chegg from a “hold” rating to a “buy” rating in a research report on Tuesday, October 31st. Finally, First Analysis lowered shares of Chegg from an “overweight” rating to an “equal weight” rating and set a $18.00 price target for the company. in a research report on Tuesday, October 31st. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Chegg presently has an average rating of “Buy” and a consensus price target of $15.09.
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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