Insider Selling: Chegg Inc (CHGG) CEO Sells 200,000 Shares of Stock

Chegg Inc (NYSE:CHGG) CEO Daniel Rosensweig sold 200,000 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $18.00, for a total value of $3,600,000.00. Following the completion of the sale, the chief executive officer now owns 2,007,689 shares in the company, valued at $36,138,402. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

  • On Monday, December 18th, Daniel Rosensweig sold 199,611 shares of Chegg stock. The shares were sold at an average price of $16.00, for a total value of $3,193,776.00.
  • 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.

Shares of Chegg Inc (CHGG) traded down $0.16 on Wednesday, hitting $18.99. The stock had a trading volume of 2,480,000 shares, compared to its average volume of 1,010,000. Chegg Inc has a 12-month low of $7.21 and a 12-month high of $19.96. The company has a market capitalization of $2,060.00, a PE ratio of -90.43, a PEG ratio of 6.42 and a beta of 1.74.

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

Several hedge funds and other institutional investors have recently modified their holdings of the company. Gilder Gagnon Howe & Co. LLC grew its holdings in shares of Chegg by 4.2% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 7,337,758 shares of the technology company’s stock worth $119,752,000 after purchasing an additional 294,847 shares in the last quarter. Sylebra HK Co Ltd grew its holdings in shares of Chegg by 3.8% during the third 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 in the last quarter. BlackRock Inc. grew its holdings in shares of Chegg by 1.3% during the fourth quarter. BlackRock Inc. now owns 5,566,601 shares of the technology company’s stock worth $90,847,000 after purchasing an additional 71,515 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Chegg by 14.0% during the fourth quarter. Alliancebernstein L.P. now owns 3,331,046 shares of the technology company’s stock worth $54,363,000 after purchasing an additional 409,956 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Chegg by 22.7% during the second quarter. Vanguard Group Inc. now owns 3,232,947 shares of the technology company’s stock worth $39,733,000 after purchasing an additional 597,063 shares in the last quarter.

A number of equities research analysts recently issued reports on CHGG shares. Citigroup started coverage on Chegg in a research note on Monday, November 20th. They issued a “buy” rating and a $19.00 price objective on the stock. JPMorgan Chase & Co. upped their price target on Chegg from $15.00 to $18.00 and gave the company an “overweight” rating in a research report on Wednesday, November 1st. Northland Securities reiterated a “buy” rating and set a $20.00 price target on shares of Chegg in a research report on Tuesday, January 9th. Barrington Research reiterated an “outperform” rating and set a $19.00 price target (up from $17.00) on shares of Chegg in a research report on Tuesday, October 31st. Finally, BMO Capital Markets reiterated a “buy” rating and set a $20.00 price target on shares of Chegg in a research report on Wednesday, January 17th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $17.09.

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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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