Chegg Inc (NYSE:CHGG) CMO Esther Lem sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $16.19, for a total value of $161,900.00. Following the completion of the transaction, the chief marketing officer now owns 555,120 shares of the company’s stock, valued at $8,987,392.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Esther Lem also recently made the following trade(s):
- On Friday, January 12th, Esther Lem sold 9,400 shares of Chegg stock. The shares were 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 shares were sold at an average price of $16.43, for a total value of $492,900.00.
- On Wednesday, December 20th, Esther Lem sold 20,000 shares of Chegg stock. The shares were 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 shares were sold at an average price of $14.36, for a total value of $143,600.00.
Chegg Inc (NYSE CHGG) traded down $0.19 during midday trading on Friday, hitting $16.74. The stock had a trading volume of 565,676 shares, compared to its average volume of 732,141. The firm has a market cap of $1,820.00, a P/E ratio of -64.38, a PEG ratio of 6.64 and a beta of 1.79. Chegg Inc has a 12 month low of $6.84 and a 12 month high of $17.04.
Chegg (NYSE:CHGG) last released its quarterly earnings data on Monday, October 30th. The technology company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.02. The company had revenue of $62.60 million during the quarter, compared to the consensus estimate of $57.75 million. Chegg had a negative return on equity of 5.06% and a negative net margin of 10.40%. The firm’s revenue for the quarter was down 12.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.17) EPS. analysts expect that Chegg Inc will post -0.09 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Gilder Gagnon Howe & Co. LLC raised its stake in 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 acquiring an additional 2,538,026 shares during the period. Sylebra HK Co Ltd raised its stake 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 valued at $103,240,000 after acquiring an additional 257,847 shares during the period. Vanguard Group Inc. raised its stake in Chegg by 22.7% in the 2nd quarter. Vanguard Group Inc. now owns 3,232,947 shares of the technology company’s stock valued at $39,733,000 after acquiring an additional 597,063 shares during the period. Emerald Advisers Inc. PA raised its stake in Chegg by 11.4% in the 3rd quarter. Emerald Advisers Inc. PA now owns 2,799,392 shares of the technology company’s stock valued at $41,543,000 after acquiring an additional 287,498 shares during the period. Finally, Fred Alger Management Inc. bought a new stake in Chegg in the 2nd quarter valued at $31,014,000.
Several equities analysts recently issued reports on the company. Northland Securities reiterated a “buy” rating and issued a $20.00 price objective on shares of Chegg in a research report on Tuesday. Barrington Research reaffirmed an “outperform” rating and set a $19.00 price target (up previously from $17.00) on shares of Chegg in a research report on Tuesday, October 31st. First Analysis downgraded Chegg from an “overweight” rating to an “equal weight” rating and set a $18.00 price target for the company. in a research report on Tuesday, October 31st. BidaskClub raised Chegg from a “hold” rating to a “buy” rating in a research report on Tuesday, October 31st. Finally, JPMorgan Chase & Co. upped their price target on Chegg from $15.00 to $18.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 1st. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $15.58.
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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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