Insider Selling: Chegg Insider Sells 31,776 Shares of Stock (CHGG)
Chegg (NASDAQ:CHGG) Insider Nathan J. Schultz sold 31,776 shares of the company’s stock on the open market in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $7.00, for a total transaction of $222,432.00. Following the completion of the sale, the insider now directly owns 93,915 shares of the company’s stock, valued at approximately $657,405. The sale was disclosed in a document filed with the SEC, which is available at this link.
Chegg (NASDAQ:CHGG) traded up 1.58% on Friday, hitting $7.72. 1,223,751 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 has a 50-day moving average of $5.99 and a 200-day moving average of $6.7. The company’s market cap is $641.3 million.
Chegg (NASDAQ:CHGG) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.22) earnings per share for the quarter, beating the analysts’ 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 last year, the company posted ($1.01) earnings per share. Chegg’s revenue was up 22.0% compared to the same quarter last year. On average, analysts predict that Chegg will post $-0.26 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on CHGG shares. 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 analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $10.71.
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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