Chegg, Inc. (CHGG) General Counsel Dave Jr. Borders Sells 13,256 Shares
Chegg, Inc. (NYSE:CHGG) General Counsel Dave Jr. Borders sold 13,256 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $15.06, for a total value of $199,635.36. Following the completion of the sale, the general counsel now owns 443,810 shares in the company, valued at approximately $6,683,778.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Chegg, Inc. (NYSE:CHGG) traded up 2.09% during mid-day trading on Tuesday, hitting $15.17. The company’s stock had a trading volume of 883,531 shares. The firm’s 50-day moving average is $14.56 and its 200-day moving average is $12.28. Chegg, Inc. has a 12-month low of $6.51 and a 12-month high of $15.95. The company’s market cap is $1.46 billion.
Chegg (NYSE:CHGG) last issued its quarterly earnings data on Tuesday, July 25th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08). Chegg had a negative return on equity of 8.10% and a negative net margin of 11.83%. The firm had revenue of $56.30 million during the quarter, compared to analysts’ expectations of $53.33 million. During the same period in the previous year, the firm earned $0.05 EPS. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. Analysts predict that Chegg, Inc. will post $0.24 EPS for the current fiscal year.
CHGG has been the subject of a number of recent research reports. BMO Capital Markets reiterated an “outperform” rating and set a $18.00 price objective (up previously from $16.00) on shares of Chegg in a research note on Wednesday, July 26th. Zacks Investment Research cut Chegg from a “buy” rating to a “hold” rating in a research note on Monday, September 25th. Northland Securities reissued a “buy” rating and issued a $16.00 target price on shares of Chegg in a research note on Friday, July 28th. J P Morgan Chase & Co restated an “overweight” rating and set a $15.00 price target (up from $12.00) on shares of Chegg in a report on Wednesday, July 26th. Finally, Lake Street Capital downgraded Chegg from a “buy” rating to a “hold” rating and raised their price target for the company from $12.00 to $14.00 in a report on Wednesday, July 26th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Chegg has a consensus rating of “Buy” and a consensus target price of $13.68.
A number of institutional investors and hedge funds have recently made changes to their positions in CHGG. Sylebra HK Co Ltd boosted its stake in Chegg by 0.5% in the first quarter. Sylebra HK Co Ltd now owns 6,699,049 shares of the technology company’s stock valued at $56,540,000 after acquiring an additional 30,164 shares in the last quarter. Gilder Gagnon Howe & Co. LLC acquired a new position in shares of Chegg during the second quarter worth $55,365,000. TimesSquare Capital Management LLC increased its position in shares of Chegg by 0.7% during the first quarter. TimesSquare Capital Management LLC now owns 4,491,510 shares of the technology company’s stock worth $37,908,000 after purchasing an additional 31,765 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Chegg by 22.7% during the second quarter. Vanguard Group Inc. now owns 3,232,947 shares of the technology company’s stock worth $39,733,000 after purchasing an additional 597,063 shares in the last quarter. Finally, Fred Alger Management Inc. acquired a new position in shares of Chegg during the second quarter worth $31,014,000. Institutional investors own 84.80% of the company’s stock.
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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