Chegg Inc (CHGG) Insider Sells $832,650.00 in Stock
Chegg Inc (NYSE:CHGG) insider Michael A. Osier sold 48,750 shares of the stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $17.08, for a total transaction of $832,650.00. Following the transaction, the insider now owns 630,652 shares in the company, valued at $10,771,536.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Chegg Inc (NYSE:CHGG) opened at $16.99 on Friday. Chegg Inc has a 52-week low of $6.84 and a 52-week high of $17.16.
Chegg (NYSE:CHGG) last issued its earnings results on Monday, October 30th. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.02. Chegg had a negative net margin of 10.40% and a negative return on equity of 5.06%. The firm had revenue of $62.60 million for the quarter, compared to analysts’ expectations of $57.75 million. During the same quarter last year, the business earned ($0.17) earnings per share. The business’s revenue was down 12.2% on a year-over-year basis. research analysts expect that Chegg Inc will post -0.09 earnings per share for the current year.
CHGG has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Chegg from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Citigroup initiated coverage on shares of Chegg in a research report on Monday, November 20th. They set a “buy” rating and a $19.00 price target on the stock. 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. 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. Finally, BidaskClub cut shares of Chegg from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $16.45.
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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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