John Paul Fillmore Sells 45,530 Shares of Chegg Inc (CHGG) Stock

Chegg Inc (NYSE:CHGG) insider John Paul Fillmore sold 45,530 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $37.73, for a total value of $1,717,846.90. Following the completion of the transaction, the insider now directly owns 395,636 shares in the company, valued at $14,927,346.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Shares of CHGG traded up $0.93 during mid-day trading on Friday, reaching $40.08. 2,593,651 shares of the company’s stock traded hands, compared to its average volume of 1,910,494. Chegg Inc has a 12 month low of $20.40 and a 12 month high of $41.69. The stock has a market cap of $4.51 billion, a PE ratio of 445.33, a price-to-earnings-growth ratio of 7.63 and a beta of 1.30. The company has a current ratio of 8.29, a quick ratio of 8.29 and a debt-to-equity ratio of 0.69.

Chegg (NYSE:CHGG) last announced its earnings results on Monday, February 11th. The technology company reported $0.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.03. Chegg had a positive return on equity of 4.31% and a negative net margin of 4.64%. The firm had revenue of $95.68 million for the quarter, compared to analysts’ expectations of $91.74 million. As a group, analysts forecast that Chegg Inc will post 0.17 EPS for the current year.

A number of large investors have recently made changes to their positions in the stock. Parallel Advisors LLC increased its holdings in shares of Chegg by 22.8% in the fourth quarter. Parallel Advisors LLC now owns 1,558 shares of the technology company’s stock valued at $44,000 after buying an additional 289 shares in the last quarter. PRW Wealth Management LLC purchased a new position in Chegg during the 4th quarter worth approximately $56,000. We Are One Seven LLC purchased a new position in Chegg during the 4th quarter worth approximately $79,000. Bessemer Group Inc. purchased a new position in Chegg during the 4th quarter worth approximately $116,000. Finally, PNC Financial Services Group Inc. grew its position in Chegg by 213.2% during the 3rd 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 in the last quarter.

Several research analysts have commented on the company. Barrington Research reissued a “buy” rating on shares of Chegg in a research report on Wednesday, April 17th. Zacks Investment Research lowered Chegg from a “buy” rating to a “hold” rating in a research report on Tuesday, April 16th. Berenberg Bank assumed coverage on Chegg in a research report on Wednesday, March 6th. They issued a “buy” rating and a $48.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on Chegg to $42.00 and gave the company an “overweight” rating in a research report on Tuesday, February 12th. Finally, Lake Street Capital raised their price objective on Chegg to $33.00 and gave the company a “hold” rating in a research report on Tuesday, February 12th. Six research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Chegg presently has an average rating of “Buy” and a consensus target price of $37.60.

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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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