Shares of Chegg, Inc. (NYSE:CHGG) have earned a consensus recommendation of “Buy” from the thirteen ratings firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $15.14.
Several research firms have recently issued reports on CHGG. Zacks Investment Research lowered shares of Chegg from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Jefferies Group LLC reissued a “buy” rating and issued a $17.00 price target on shares of Chegg in a research report on Thursday, September 7th. Northland Securities reissued a “buy” rating and issued a $16.00 price target on shares of Chegg in a research report on Tuesday, August 29th. BidaskClub lowered shares of Chegg from a “buy” rating to a “hold” rating in a research report on Saturday, August 26th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $18.00 price target (up previously from $16.00) on shares of Chegg in a research report on Wednesday, July 26th.
In related news, insider Charles Geiger sold 56,970 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $14.96, for a total transaction of $852,271.20. Following the sale, the insider now owns 543,470 shares of the company’s stock, valued at approximately $8,130,311.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Andrew J. Brown sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $14.00, for a total transaction of $1,400,000.00. Following the sale, the insider now directly owns 678,760 shares in the company, valued at approximately $9,502,640. The disclosure for this sale can be found here. Insiders have sold a total of 472,494 shares of company stock worth $6,712,525 in the last ninety days. 20.40% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of CHGG. Gilder Gagnon Howe & Co. LLC bought a new stake in Chegg during the 2nd quarter worth approximately $55,365,000. Fred Alger Management Inc. bought a new stake in Chegg during the 2nd quarter worth approximately $31,014,000. Russell Investments Group Ltd. increased its holdings in Chegg by 423.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,101,975 shares of the technology company’s stock worth $25,833,000 after acquiring an additional 1,700,195 shares during the period. Lord Abbett & CO. LLC increased its holdings in Chegg by 113.7% during the 2nd quarter. Lord Abbett & CO. LLC now owns 2,117,780 shares of the technology company’s stock worth $26,028,000 after acquiring an additional 1,126,806 shares during the period. Finally, Westfield Capital Management Co. LP bought a new stake in Chegg during the 2nd quarter worth approximately $10,373,000. 84.80% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Chegg (NYSE:CHGG) traded up 0.52% on Wednesday, hitting $15.51. 453,212 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $14.70 and its 200 day moving average is $12.63. The firm’s market cap is $1.49 billion. Chegg has a 12 month low of $6.51 and a 12 month high of $15.95.
Chegg (NYSE:CHGG) last posted its quarterly earnings results on Tuesday, July 25th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.08). Chegg had a negative net margin of 11.83% and a negative return on equity of 8.10%. The business had revenue of $56.30 million during the quarter, compared to the consensus estimate of $53.33 million. During the same period last year, the firm earned $0.05 EPS. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, equities analysts predict that Chegg will post $0.24 earnings per share for the current year.
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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