Chegg Inc (CHGG) Insider Sells $472,617.88 in Stock

Chegg Inc (NYSE:CHGG) insider Michael A. Osier sold 27,916 shares of Chegg stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $16.93, for a total transaction of $472,617.88. Following the completion of the transaction, the insider now owns 581,902 shares in the company, valued at approximately $9,851,600.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of Chegg Inc (NYSE:CHGG) traded up $0.22 during trading hours on Wednesday, hitting $16.77. 1,123,517 shares of the company’s stock were exchanged, compared to its average volume of 887,600. The firm has a market cap of $1,820.00, a price-to-earnings ratio of -64.50, a P/E/G ratio of 6.40 and a beta of 1.79. Chegg Inc has a 52 week low of $6.84 and a 52 week high of $17.04.

Chegg (NYSE:CHGG) last issued its earnings results on Monday, October 30th. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company’s revenue for the quarter was down 12.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.17) EPS. research analysts expect that Chegg Inc will post -0.09 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in CHGG. Gilder Gagnon Howe & Co. LLC lifted its stake in shares of Chegg by 56.3% in the 3rd quarter. Gilder Gagnon Howe & Co. LLC now owns 7,042,911 shares of the technology company’s stock valued at $104,517,000 after purchasing an additional 2,538,026 shares during the last quarter. Fred Alger Management Inc. acquired a new stake in shares of Chegg in the 2nd quarter valued at $31,014,000. Millennium TVP Management Co. LLC acquired a new stake in shares of Chegg in the 3rd quarter valued at $25,896,000. Lord Abbett & CO. LLC lifted its stake in shares of Chegg by 113.7% in the 2nd quarter. Lord Abbett & CO. LLC now owns 2,117,780 shares of the technology company’s stock valued at $26,028,000 after purchasing an additional 1,126,806 shares during the last quarter. Finally, Columbus Circle Investors acquired a new stake in shares of Chegg in the 3rd quarter valued at $14,234,000.

Several research firms have issued reports on CHGG. Citigroup began coverage on shares of Chegg in a research report on Monday, November 20th. They issued a “buy” rating and a $19.00 price target on the stock. BidaskClub cut shares of Chegg from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. Zacks Investment Research upgraded shares of Chegg from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. JPMorgan Chase & Co. lifted their price objective on shares of Chegg from $15.00 to $18.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 1st. Finally, Northland Securities reiterated a “buy” rating and set a $18.00 price objective on shares of Chegg in a research report on Wednesday, November 1st. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $15.42.

COPYRIGHT VIOLATION WARNING: “Chegg Inc (CHGG) Insider Sells $472,617.88 in Stock” was first reported by American Banking News and is owned by of American Banking News. If you are accessing this story on another site, it was illegally copied and reposted in violation of United States & international copyright and trademark laws. The original version of this story can be accessed at https://www.americanbankingnews.com/2018/01/03/chegg-inc-chgg-insider-sells-472617-88-in-stock.html.

About Chegg

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.

Insider Buying and Selling by Quarter for Chegg (NYSE:CHGG)

Receive News & Ratings for Chegg Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chegg and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply