Chegg Inc (NYSE:CHGG) CEO Daniel Rosensweig sold 150,000 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $32.57, for a total transaction of $4,885,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,322,754 shares of the company’s stock, valued at approximately $75,652,097.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

  • On Friday, September 20th, Daniel Rosensweig sold 150,000 shares of Chegg stock. The stock was sold at an average price of $33.34, for a total transaction of $5,001,000.00.
  • On Tuesday, August 20th, Daniel Rosensweig sold 150,000 shares of Chegg stock. The stock was sold at an average price of $40.69, for a total transaction of $6,103,500.00.

Shares of NYSE:CHGG traded up $0.03 during trading on Tuesday, reaching $32.76. 1,657,494 shares of the company’s stock traded hands, compared to its average volume of 1,793,936. The company has a debt-to-equity ratio of 1.90, a current ratio of 13.22 and a quick ratio of 13.22. Chegg Inc has a 12 month low of $22.67 and a 12 month high of $48.22. The company has a 50 day moving average of $32.87 and a 200-day moving average of $37.96. The stock has a market capitalization of $3.87 billion, a P/E ratio of 364.00, a price-to-earnings-growth ratio of 4.86 and a beta of 0.96.

Chegg (NYSE:CHGG) last announced its quarterly earnings data on Monday, July 29th. The technology company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.06. Chegg had a negative net margin of 4.07% and a positive return on equity of 7.12%. The business had revenue of $93.90 million during the quarter, compared to the consensus estimate of $92.44 million. During the same quarter in the prior year, the firm earned $0.12 EPS. The company’s revenue for the quarter was up 26.5% compared to the same quarter last year. Equities research analysts predict that Chegg Inc will post 0.22 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in the stock. Baillie Gifford & Co. grew its position in shares of Chegg by 7.2% during the 2nd quarter. Baillie Gifford & Co. now owns 12,474,426 shares of the technology company’s stock valued at $481,388,000 after buying an additional 837,801 shares during the last quarter. Sylebra Capital Ltd grew its position in shares of Chegg by 0.3% during the 2nd quarter. Sylebra Capital Ltd now owns 3,542,705 shares of the technology company’s stock valued at $136,713,000 after buying an additional 11,964 shares during the last quarter. Bank of America Corp DE grew its position in shares of Chegg by 223.4% during the 2nd quarter. Bank of America Corp DE now owns 2,812,398 shares of the technology company’s stock valued at $108,530,000 after buying an additional 1,942,695 shares during the last quarter. TimesSquare Capital Management LLC grew its position in shares of Chegg by 33.2% during the 2nd quarter. TimesSquare Capital Management LLC now owns 2,081,350 shares of the technology company’s stock valued at $80,319,000 after buying an additional 519,130 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Chegg by 1.3% during the 2nd quarter. Northern Trust Corp now owns 1,520,744 shares of the technology company’s stock valued at $58,685,000 after buying an additional 19,775 shares during the last quarter.

Several equities research analysts have recently weighed in on the stock. Jefferies Financial Group raised shares of Chegg from a “hold” rating to a “buy” rating and dropped their target price for the stock from $46.00 to $44.00 in a research report on Monday, September 9th. BMO Capital Markets dropped their target price on shares of Chegg from $49.00 to $35.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Craig Hallum boosted their target price on shares of Chegg from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Zacks Investment Research downgraded shares of Chegg from a “buy” rating to a “hold” rating in a research report on Monday, October 14th. Finally, Barrington Research assumed coverage on shares of Chegg in a research report on Monday, October 14th. They issued a “buy” rating and a $50.00 target price for the company. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $42.46.

Chegg Company Profile

Chegg, Inc operates direct-to-student learning platform that supports students on their journey from high school to college and into their career with tools designed to help them pass their test, pass their class, and save money on required materials. The company offers Chegg Services, which include digital products and services; and required materials that comprise its print textbooks and eTextbooks.

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Insider Buying and Selling by Quarter for Chegg (NYSE:CHGG)

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