Chegg Inc (NYSE:CHGG)’s share price rose 1.2% during mid-day trading on Thursday . The company traded as high as $20.78 and last traded at $20.22. Approximately 271,430 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 1,144,362 shares. The stock had previously closed at $20.47.
CHGG has been the subject of a number of recent analyst reports. BidaskClub raised shares of Chegg from a “hold” rating to a “buy” rating in a report on Tuesday, October 31st. First Analysis downgraded shares of Chegg from an “overweight” rating to an “equal weight” rating and set a $18.00 price target for the company. in a report on Tuesday, October 31st. Barrington Research reissued an “outperform” rating and issued a $19.00 price target (up from $17.00) on shares of Chegg in a report on Tuesday, October 31st. Northland Securities reissued a “buy” rating and issued a $18.00 price target on shares of Chegg in a report on Wednesday, November 1st. Finally, JPMorgan Chase & Co. upped their price target on shares of Chegg from $15.00 to $18.00 and gave the company an “overweight” rating in a report on Wednesday, November 1st. One 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. The stock has an average rating of “Buy” and a consensus price target of $17.09.
The stock has a market capitalization of $2,184.58, a price-to-earnings ratio of -96.90, a price-to-earnings-growth ratio of 7.11 and a beta of 1.74.
Chegg (NYSE:CHGG) last posted its quarterly earnings data on Monday, February 12th. The technology company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. Chegg had a negative net margin of 7.95% and a negative return on equity of 2.64%. The company 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 firm earned $0.10 earnings per share. The business’s quarterly revenue was up 16.5% on a year-over-year basis. analysts anticipate that Chegg Inc will post 0.11 EPS for the current fiscal year.
In other Chegg news, insider Nathan J. Schultz sold 66,666 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $20.02, for a total transaction of $1,334,653.32. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael A. Osier sold 200,000 shares of the company’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $15.25, for a total transaction of $3,050,000.00. Following the sale, the insider now directly owns 653,061 shares of the company’s stock, valued at $9,959,180.25. The disclosure for this sale can be found here. Insiders have sold 935,989 shares of company stock valued at $15,637,038 over the last ninety days. Insiders own 20.40% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Gilder Gagnon Howe & Co. LLC lifted its stake in Chegg by 4.2% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 7,337,758 shares of the technology company’s stock valued at $119,752,000 after buying an additional 294,847 shares in the last quarter. Sylebra HK Co Ltd lifted its stake in 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 buying an additional 257,847 shares in the last quarter. BlackRock Inc. lifted its stake in Chegg by 1.3% during the fourth quarter. BlackRock Inc. now owns 5,566,601 shares of the technology company’s stock valued at $90,847,000 after buying an additional 71,515 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Chegg by 14.0% during the fourth quarter. Alliancebernstein L.P. now owns 3,331,046 shares of the technology company’s stock valued at $54,363,000 after buying an additional 409,956 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Chegg by 22.7% during the second quarter. Vanguard Group Inc. now owns 3,232,947 shares of the technology company’s stock valued at $39,733,000 after buying an additional 597,063 shares in the last quarter.
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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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