Insider Buying: John E. York Acquires 2,000 Shares of Chegg Stock (CHGG)
Chegg (NASDAQ:CHGG) Director John E. York purchased 2,000 shares of Chegg stock on the open market in a transaction that occurred on Monday, June 9th. The stock was purchased at an average cost of $6.74 per share, with a total value of $13,480.00. Following the transaction, the director now directly owns 2,000 shares in the company, valued at approximately $13,480. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
A number of research firms have recently commented on CHGG. Analysts at Lake Street Capital initiated coverage on shares of Chegg in a research note on Tuesday, May 20th. They set a “buy” rating and a $9.00 price target on the stock. Analysts at Bank of America upgraded shares of Chegg from a “neutral” rating to a “buy” rating in a research note on Tuesday, April 29th. They now have a $8.00 price target on the stock. They noted that the move was a valuation call. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Chegg currently has a consensus rating of “Buy” and an average target price of $10.71.
Shares of Chegg (NASDAQ:CHGG) traded down 0.18% on Tuesday, hitting $6.758. 264,514 shares of the company’s stock traded hands. Chegg has a 52-week low of $4.82 and a 52-week high of $11.25. The stock’s 50-day moving average is $5.53 and its 200-day moving average is $6.83. The company’s market cap is $561.3 million.
Chegg (NASDAQ:CHGG) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.22) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.30) by $0.08. The company had revenue of $74.40 million for the quarter, compared to the consensus estimate of $70.82 million. During the same quarter in the prior year, the company posted ($1.01) earnings per share. The company’s quarterly revenue was up 22.0% on a year-over-year basis. Analysts expect that Chegg will post $-0.26 EPS for the current fiscal year.
Chegg, Inc (NASDAQ:CHGG) is the student-first connected learning platform, empowering students to take control of their education to save time, save money and get smarter.
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