Chegg Inc (CHGG) General Counsel Sells $217,017.09 in Stock
Chegg Inc (NYSE:CHGG) General Counsel Dave Jr. Borders sold 13,257 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $16.37, for a total transaction of $217,017.09. Following the transaction, the general counsel now owns 429,836 shares in the company, valued at approximately $7,036,415.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Shares of Chegg Inc (CHGG) traded up $0.22 during trading hours on Wednesday, hitting $16.77. 1,123,517 shares of the stock traded hands, compared to its average volume of 887,600. Chegg Inc has a 52-week low of $6.84 and a 52-week high of $17.04. The company has a market cap of $1,820.00, a PE ratio of -64.50, a PEG ratio of 6.40 and a beta of 1.79.
Chegg (NYSE:CHGG) last released its earnings results on Monday, October 30th. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. The company had revenue of $62.60 million during the quarter, compared to analyst estimates of $57.75 million. Chegg had a negative net margin of 10.40% and a negative return on equity of 5.06%. The firm’s quarterly revenue was down 12.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.17) EPS. sell-side analysts anticipate that Chegg Inc will post -0.09 earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in CHGG. Bank of America Corp DE increased its holdings in Chegg by 29.0% in the 1st quarter. Bank of America Corp DE now owns 14,267 shares of the technology company’s stock worth $120,000 after acquiring an additional 3,205 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Chegg by 10.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 253,137 shares of the technology company’s stock worth $3,112,000 after acquiring an additional 23,678 shares in the last quarter. Rhumbline Advisers increased its holdings in Chegg by 1.2% in the 2nd quarter. Rhumbline Advisers now owns 92,001 shares of the technology company’s stock worth $1,131,000 after acquiring an additional 1,092 shares in the last quarter. Legal & General Group Plc increased its holdings in Chegg by 2.6% in the 2nd quarter. Legal & General Group Plc now owns 20,648 shares of the technology company’s stock worth $254,000 after acquiring an additional 525 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its holdings in Chegg by 1,829.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,051 shares of the technology company’s stock worth $111,000 after acquiring an additional 8,582 shares in the last quarter.
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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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