Insider Selling: Chegg, Inc. (CHGG) Insider Sells 50,000 Shares of Stock
Chegg, Inc. (NYSE:CHGG) insider Jenny Brandemuehl sold 50,000 shares of the company’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $15.67, for a total transaction of $783,500.00. Following the completion of the sale, the insider now directly owns 421,461 shares of the company’s stock, valued at approximately $6,604,293.87. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Chegg, Inc. (NYSE CHGG) traded up $0.23 during trading hours on Friday, hitting $15.69. 831,600 shares of the stock traded hands, compared to its average volume of 980,172. Chegg, Inc. has a 12-month low of $6.84 and a 12-month high of $16.50.
Chegg (NYSE:CHGG) last posted its earnings results on Monday, October 30th. The technology company reported $0.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. Chegg had a negative net margin of 10.40% and a negative return on equity of 5.06%. The firm had revenue of $62.60 million during the quarter, compared to analysts’ expectations of $57.75 million. During the same period last year, the company posted ($0.17) EPS. The company’s quarterly revenue was down 12.2% compared to the same quarter last year. research analysts predict that Chegg, Inc. will post -0.09 earnings per share for the current year.
Several institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio increased its stake in shares of Chegg by 12.0% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 132,734 shares of the technology company’s stock worth $1,970,000 after acquiring an additional 14,171 shares in the last quarter. Neuberger Berman Group LLC increased its stake in shares of Chegg by 84.0% in the 3rd quarter. Neuberger Berman Group LLC now owns 46,000 shares of the technology company’s stock worth $683,000 after acquiring an additional 21,000 shares in the last quarter. California Public Employees Retirement System increased its stake in shares of Chegg by 54.5% in the 3rd quarter. California Public Employees Retirement System now owns 51,307 shares of the technology company’s stock worth $761,000 after acquiring an additional 18,107 shares in the last quarter. Sylebra HK Co Ltd increased its stake in shares of Chegg by 3.8% in the 3rd quarter. Sylebra HK Co Ltd now owns 6,956,896 shares of the technology company’s stock worth $103,240,000 after acquiring an additional 257,847 shares in the last quarter. Finally, Granahan Investment Management Inc. MA increased its stake in shares of Chegg by 31.1% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 714,949 shares of the technology company’s stock worth $10,610,000 after acquiring an additional 169,709 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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