Chegg Inc (CHGG) Insider Sells $686,400.00 in Stock

Chegg Inc (NYSE:CHGG) insider Esther Lem sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $17.16, for a total value of $686,400.00. Following the transaction, the insider now owns 465,120 shares in the company, valued at $7,981,459.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Esther Lem also recently made the following trade(s):

  • On Friday, January 12th, Esther Lem sold 9,400 shares of Chegg stock. The stock was sold at an average price of $17.00, for a total value of $159,800.00.
  • On Tuesday, January 2nd, Esther Lem sold 30,000 shares of Chegg stock. The stock was sold at an average price of $16.43, for a total value of $492,900.00.
  • On Monday, December 18th, Esther Lem sold 10,000 shares of Chegg stock. The stock was sold at an average price of $16.19, for a total value of $161,900.00.
  • On Wednesday, December 20th, Esther Lem sold 20,000 shares of Chegg stock. The stock was sold at an average price of $16.35, for a total value of $327,000.00.
  • On Wednesday, December 6th, Esther Lem sold 10,000 shares of Chegg stock. The stock was sold at an average price of $14.36, for a total value of $143,600.00.

Chegg Inc (NYSE:CHGG) traded down $0.26 during midday trading on Friday, reaching $17.06. The company’s stock had a trading volume of 1,103,531 shares, compared to its average volume of 618,865. Chegg Inc has a 1-year low of $6.84 and a 1-year high of $17.42. The stock has a market cap of $1,878.21 and a PE ratio of -65.61.

Chegg (NYSE:CHGG) last released its quarterly earnings data on Monday, October 30th. The technology company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.02. Chegg had a negative return on equity of 5.06% and a negative net margin of 10.40%. The business had revenue of $62.60 million during the quarter, compared to analysts’ expectations of $57.75 million. During the same quarter last year, the business posted ($0.17) EPS. The business’s revenue was down 12.2% on a year-over-year basis. equities analysts expect that Chegg Inc will post -0.09 earnings per share for the current fiscal year.

Several research firms recently issued reports on CHGG. BidaskClub lowered Chegg from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. First Analysis cut Chegg from an “overweight” rating to an “equal weight” rating and set a $18.00 price objective for the company. in a report on Tuesday, October 31st. Northland Securities reiterated a “buy” rating and issued a $18.00 price objective on shares of Chegg in a report on Wednesday, November 1st. Zacks Investment Research upgraded Chegg from a “sell” rating to a “hold” rating in a report on Friday, November 3rd. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $20.00 price objective on shares of Chegg in a report on Wednesday, January 17th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $16.45.

Several institutional investors and 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 period. Fred Alger Management Inc. purchased a new position in shares of Chegg in the 2nd quarter valued at approximately $31,014,000. Millennium TVP Management Co. LLC purchased a new position in shares of Chegg in the 3rd quarter valued at approximately $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 period. Finally, Columbus Circle Investors purchased a new position in shares of Chegg in the 3rd quarter valued at approximately $14,234,000.

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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.

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

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