Insider Selling: Chegg Inc (NYSE:CHGG) CEO Sells 199,611 Shares of Stock

Chegg Inc (NYSE:CHGG) CEO Daniel Rosensweig sold 199,611 shares of the business’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $16.00, for a total value of $3,193,776.00. Following the transaction, the chief executive officer now owns 2,207,689 shares of the company’s stock, valued at approximately $35,323,024. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Daniel Rosensweig also recently made the following trade(s):

  • On Wednesday, December 13th, Daniel Rosensweig sold 389 shares of Chegg stock. The shares were sold at an average price of $16.00, for a total value of $6,224.00.
  • On Tuesday, November 7th, Daniel Rosensweig sold 200,000 shares of Chegg stock. The shares were sold at an average price of $14.03, for a total value of $2,806,000.00.

Shares of Chegg Inc (NYSE:CHGG) traded down $0.19 on Friday, hitting $16.74. The stock had a trading volume of 565,676 shares, compared to its average volume of 732,141. Chegg Inc has a 1 year low of $6.84 and a 1 year high of $17.04. The stock has a market capitalization of $1,820.00, a P/E ratio of -64.38, a price-to-earnings-growth ratio of 6.64 and a beta of 1.79.

Chegg (NYSE:CHGG) last issued its earnings results on Monday, October 30th. The technology company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $62.60 million for the quarter, compared to the consensus estimate of $57.75 million. During the same quarter in the prior year, the business earned ($0.17) earnings per share. The company’s 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 fiscal year.

Several research analysts have recently commented on CHGG shares. Northland Securities reissued a “buy” rating and issued a $18.00 price target on shares of Chegg in a research report on Wednesday, November 1st. Citigroup began coverage on Chegg in a research report on Monday, November 20th. They issued a “buy” rating and a $19.00 price target for the company. BidaskClub upgraded Chegg from a “hold” rating to a “buy” rating in a research note on Tuesday, October 31st. First Analysis downgraded Chegg from an “overweight” rating to an “equal weight” rating and set a $18.00 target price on the stock. in a research note on Tuesday, October 31st. Finally, Zacks Investment Research downgraded Chegg from a “buy” rating to a “hold” rating in a research note on Monday, September 25th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $15.58.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio raised its holdings in 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 purchasing an additional 14,171 shares during the period. Neuberger Berman Group LLC raised its holdings in 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 purchasing an additional 21,000 shares during the period. California Public Employees Retirement System raised its holdings in 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 purchasing an additional 18,107 shares during the period. Sylebra HK Co Ltd raised its holdings in 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 purchasing an additional 257,847 shares during the period. Finally, Granahan Investment Management Inc. MA raised its holdings in 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 purchasing an additional 169,709 shares during the period.

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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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