Chegg Inc (NYSE:CHGG) Insider Michael A. Osier Sells 8,000 Shares of Stock

Chegg Inc (NYSE:CHGG) insider Michael A. Osier sold 8,000 shares of Chegg stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $46.90, for a total value of $375,200.00. Following the completion of the transaction, the insider now directly owns 522,593 shares in the company, valued at $24,509,611.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

CHGG opened at $45.03 on Friday. The company has a market capitalization of $5.48 billion, a PE ratio of 500.33, a PEG ratio of 8.03 and a beta of 1.01. The company has a current ratio of 13.96, a quick ratio of 13.96 and a debt-to-equity ratio of 1.84. Chegg Inc has a 1 year low of $22.67 and a 1 year high of $48.22. The company’s 50 day moving average price is $41.53.

Chegg (NYSE:CHGG) last announced its quarterly earnings results on Monday, July 29th. The technology company reported $0.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.06. The business had revenue of $93.90 million for the quarter, compared to analyst estimates of $92.44 million. Chegg had a positive return on equity of 7.34% and a negative net margin of 4.07%. Chegg’s quarterly revenue was up 26.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.12 EPS. Analysts anticipate that Chegg Inc will post 0.19 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in the stock. We Are One Seven LLC boosted its stake in Chegg by 7.4% in the 2nd quarter. We Are One Seven LLC now owns 6,089 shares of the technology company’s stock valued at $234,000 after buying an additional 421 shares in the last quarter. Summit Creek Advisors LLC boosted its stake in Chegg by 0.3% in the second quarter. Summit Creek Advisors LLC now owns 163,180 shares of the technology company’s stock worth $6,297,000 after purchasing an additional 450 shares in the last quarter. NJ State Employees Deferred Compensation Plan lifted its stake in shares of Chegg by 6.7% during the second quarter. NJ State Employees Deferred Compensation Plan now owns 16,000 shares of the technology company’s stock valued at $617,000 after acquiring an additional 1,000 shares during the period. Parkwood LLC lifted its stake in shares of Chegg by 6.6% during the first quarter. Parkwood LLC now owns 16,390 shares of the technology company’s stock valued at $625,000 after acquiring an additional 1,020 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Chegg by 20.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,345 shares of the technology company’s stock valued at $245,000 after acquiring an additional 1,061 shares during the period.

Several research analysts have commented on CHGG shares. Barrington Research lifted their price target on Chegg from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Tuesday. Craig Hallum boosted their price objective on Chegg from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday. Jefferies Financial Group boosted their price objective on Chegg from $40.00 to $46.00 and gave the company a “buy” rating in a research report on Tuesday. Needham & Company LLC restated a “buy” rating and set a $50.00 price objective (up from $44.00) on shares of Chegg in a research report on Tuesday. Finally, Lake Street Capital restated a “hold” rating and set a $34.00 price objective (up from $33.00) on shares of Chegg in a research report on Tuesday, April 30th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Chegg currently has a consensus rating of “Buy” and an average price target of $44.18.

About Chegg

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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