Chegg Target of Unusually High Options Trading (CHGG)

Chegg Inc (NYSE:CHGG) was the recipient of some unusual options trading on Tuesday. Stock traders bought 932 call options on the stock. This represents an increase of 779% compared to the average daily volume of 106 call options.

CHGG has been the subject of several research analyst reports. BMO Capital Markets restated a “buy” rating and set a $20.00 price target on shares of Chegg in a research note on Wednesday, January 17th. Northland Securities restated a “buy” rating and set a $20.00 price target on shares of Chegg in a research note on Tuesday, January 9th. Citigroup began coverage on Chegg in a research note on Monday, November 20th. They set a “buy” rating and a $19.00 price target for the company. BidaskClub raised Chegg from a “hold” rating to a “buy” rating in a research report on Tuesday, October 31st. Finally, First Analysis downgraded Chegg from an “overweight” rating to an “equal weight” rating and set a $18.00 target price for the company. in a research report on Tuesday, October 31st. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $17.09.

In other Chegg news, insider Esther Lem sold 40,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $17.16, for a total transaction of $686,400.00. Following the completion of the sale, the insider now directly owns 465,120 shares in the company, valued at $7,981,459.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael A. Osier sold 200,000 shares of the company’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $15.25, for a total value of $3,050,000.00. Following the sale, the insider now owns 653,061 shares of the company’s stock, valued at $9,959,180.25. The disclosure for this sale can be found here. Insiders sold 659,323 shares of company stock valued at $10,527,385 over the last quarter. Insiders own 20.40% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Gilder Gagnon Howe & Co. LLC raised its stake in Chegg by 56.3% during the third quarter. Gilder Gagnon Howe & Co. LLC now owns 7,042,911 shares of the technology company’s stock valued at $104,517,000 after buying an additional 2,538,026 shares in the last quarter. Millennium TVP Management Co. LLC acquired a new stake in Chegg during the third quarter valued at approximately $25,896,000. Clearbridge Investments LLC raised its stake in Chegg by 184.1% during the fourth quarter. Clearbridge Investments LLC now owns 1,927,665 shares of the technology company’s stock valued at $31,459,000 after buying an additional 1,249,178 shares in the last quarter. Lord Abbett & CO. LLC raised its stake in Chegg by 113.7% during the second quarter. Lord Abbett & CO. LLC now owns 2,117,780 shares of the technology company’s stock valued at $26,028,000 after buying an additional 1,126,806 shares in the last quarter. Finally, Columbus Circle Investors acquired a new stake in Chegg during the third quarter valued at approximately $14,234,000.

Shares of Chegg (NYSE:CHGG) traded down $0.16 on Wednesday, reaching $18.99. The company had a trading volume of 2,479,887 shares, compared to its average volume of 1,059,658. The stock has a market capitalization of $2,060.00, a P/E ratio of -90.10, a P/E/G ratio of 6.42 and a beta of 1.74. Chegg has a 1 year low of $7.81 and a 1 year high of $19.96.

Chegg (NYSE:CHGG) last issued its quarterly earnings results on Monday, February 12th. The technology company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. The firm had revenue of $73.51 million during the quarter, compared to the consensus estimate of $70.61 million. Chegg had a negative return on equity of 2.64% and a negative net margin of 7.95%. Chegg’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.10 earnings per share. equities research analysts expect that Chegg will post 0.1 EPS for the current year.

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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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