Insider Selling: Chegg Insider Sells 31,776 Shares of Stock (CHGG)
Chegg (NASDAQ:CHGG) Insider Nathan J. Schultz unloaded 31,776 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $8.00, for a total value of $254,208.00. Following the sale, the insider now directly owns 93,915 shares of the company’s stock, valued at approximately $751,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Chegg (NASDAQ:CHGG) traded up 0.41% during mid-day trading on Friday, hitting $7.29. 5,144,631 shares of the company’s stock traded hands. Chegg has a 1-year low of $4.82 and a 1-year high of $11.25. The stock’s 50-day moving average is $6. and its 200-day moving average is $6.74. The company’s market cap is $605.5 million.
Chegg (NASDAQ:CHGG) last released its earnings data on Thursday, May 1st. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted ($1.01) earnings per share. The company’s revenue for the quarter was up 22.0% on a year-over-year basis. Analysts expect that Chegg will post $-0.26 EPS for the current fiscal year.
CHGG has been the subject of a number of recent research reports. 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 assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price 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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