Chegg Inc (NYSE:CHGG)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $22.64 and last traded at $22.70, with a volume of 782149 shares traded. The stock had previously closed at $22.50.
A number of equities analysts recently commented on CHGG shares. Zacks Investment Research cut shares of Chegg from a “hold” rating to a “sell” rating in a research report on Thursday, February 22nd. Citigroup started coverage on shares of Chegg in a research report on Monday, November 20th. They issued a “buy” rating and a $19.00 target price on the stock. Morgan Stanley started coverage on shares of Chegg in a research report on Monday, February 26th. They issued an “equal weight” rating and a $23.00 target price on the stock. Northland Securities reiterated a “buy” rating and issued a $20.00 target price on shares of Chegg in a research report on Tuesday, January 9th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $20.00 target price on shares of Chegg in a research report on Wednesday, January 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. Chegg presently has a consensus rating of “Buy” and an average price target of $17.58.
The firm has a market capitalization of $2,400.00, a PE ratio of -105.86, a PEG ratio of 7.63 and a beta of 1.49.
Chegg (NYSE:CHGG) last released its quarterly earnings data on Monday, February 12th. The technology company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. Chegg had a negative net margin of 7.95% and a negative return on equity of 2.37%. The firm had revenue of $73.51 million for the quarter, compared to analysts’ expectations of $70.61 million. During the same quarter in the previous year, the company earned $0.10 earnings per share. The company’s revenue for the quarter was up 16.5% compared to the same quarter last year. sell-side analysts anticipate that Chegg Inc will post 0.12 earnings per share for the current year.
In other news, insider Nathan J. Schultz sold 66,666 shares of Chegg stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $20.02, for a total transaction of $1,334,653.32. Following the sale, the insider now owns 578,878 shares of the company’s stock, valued at approximately $11,589,137.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Esther Lem sold 20,000 shares of Chegg stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $16.35, for a total transaction of $327,000.00. Following the sale, the insider now directly owns 555,120 shares in the company, valued at approximately $9,076,212. The disclosure for this sale can be found here. Insiders sold 1,000,596 shares of company stock worth $18,271,796 in the last 90 days. Corporate insiders own 20.40% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Swiss National Bank boosted its stake in shares of Chegg by 30.9% during the 3rd quarter. Swiss National Bank now owns 150,100 shares of the technology company’s stock valued at $2,227,000 after purchasing an additional 35,400 shares in the last quarter. Columbus Circle Investors bought a new stake in shares of Chegg during the 3rd quarter valued at about $14,234,000. 1492 Capital Management LLC bought a new stake in shares of Chegg during the 3rd quarter valued at about $453,000. California Public Employees Retirement System bought a new stake in shares of Chegg during the 2nd quarter valued at about $408,000. Finally, Granahan Investment Management Inc. MA boosted its stake in shares of Chegg by 31.1% during the 3rd quarter. Granahan Investment Management Inc. MA now owns 714,949 shares of the technology company’s stock valued at $10,610,000 after purchasing an additional 169,709 shares in the last quarter.
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Chegg Company Profile
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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