Chegg Inc (CHGG) CEO Sells $3,814,500.00 in Stock

Chegg Inc (NYSE:CHGG) CEO Daniel Rosensweig sold 150,000 shares of the company’s stock in a transaction dated Friday, October 12th. The stock was sold at an average price of $25.43, for a total value of $3,814,500.00. Following the transaction, the chief executive officer now directly owns 2,378,305 shares of the company’s stock, valued at $60,480,296.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

  • On Wednesday, September 12th, Daniel Rosensweig sold 150,000 shares of Chegg stock. The stock was sold at an average price of $31.07, for a total value of $4,660,500.00.
  • On Monday, August 13th, Daniel Rosensweig sold 150,000 shares of Chegg stock. The stock was sold at an average price of $29.28, for a total value of $4,392,000.00.

Shares of CHGG traded down $0.48 during mid-day trading on Friday, reaching $27.09. The company’s stock had a trading volume of 1,299,582 shares, compared to its average volume of 1,624,530. Chegg Inc has a 1-year low of $13.80 and a 1-year high of $32.82. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of -301.00, a PEG ratio of 10.78 and a beta of 1.43. The company has a quick ratio of 6.56, a current ratio of 6.56 and a debt-to-equity ratio of 0.72.

Chegg (NYSE:CHGG) last released its quarterly earnings data on Monday, October 29th. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.04. The company had revenue of $74.20 million during the quarter, compared to analysts’ expectations of $69.02 million. Chegg had a positive return on equity of 1.75% and a negative net margin of 5.55%. The business’s revenue was up 18.5% on a year-over-year basis. During the same period last year, the firm posted $0.01 earnings per share. As a group, analysts expect that Chegg Inc will post 0.09 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in CHGG. PNC Financial Services Group Inc. increased its stake in shares of Chegg by 213.2% during the third quarter. PNC Financial Services Group Inc. now owns 5,678 shares of the technology company’s stock worth $162,000 after purchasing an additional 3,865 shares during the period. Bank of Montreal Can increased its stake in Chegg by 612.4% during the 3rd quarter. Bank of Montreal Can now owns 5,920 shares of the technology company’s stock worth $168,000 after acquiring an additional 5,089 shares during the period. NewSquare Capital LLC bought a new position in Chegg during the 2nd quarter worth $178,000. BB&T Securities LLC bought a new position in Chegg during the 2nd quarter worth $209,000. Finally, National Asset Management Inc. bought a new position in Chegg during the 3rd quarter worth $223,000.

Several research firms have recently weighed in on CHGG. Morgan Stanley upped their price objective on Chegg from $24.00 to $28.00 and gave the stock a “hold” rating in a research report on Wednesday, August 1st. Zacks Investment Research raised Chegg from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research report on Thursday. Craig Hallum raised Chegg from a “hold” rating to a “buy” rating in a research report on Tuesday, October 2nd. Barrington Research reissued a “buy” rating and set a $32.00 price target on shares of Chegg in a research report on Friday, October 5th. Finally, Jefferies Financial Group reduced their price target on Chegg from $30.00 to $28.00 and set a “hold” rating for the company in a research report on Tuesday, October 30th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $26.80.

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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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