Chegg Inc (NYSE:CHGG) CEO Daniel Rosensweig sold 150,000 shares of the firm’s stock in a transaction dated Monday, November 12th. The shares were sold at an average price of $26.34, for a total transaction of $3,951,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,435,450 shares in the company, valued at approximately $64,149,753. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Daniel Rosensweig also recently made the following trade(s):
- On Friday, October 12th, Daniel Rosensweig sold 150,000 shares of Chegg stock. The shares were sold at an average price of $25.43, for a total transaction of $3,814,500.00.
- 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 transaction of $4,660,500.00.
Shares of CHGG stock opened at $25.89 on Wednesday. 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 Inc has a 12-month low of $13.83 and a 12-month high of $32.82. The company has a market cap of $3.11 billion, a PE ratio of -287.67, a P/E/G ratio of 10.50 and a beta of 1.43.
Chegg (NYSE:CHGG) last issued its quarterly earnings results on Monday, October 29th. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.04. Chegg had a negative net margin of 5.55% and a positive return on equity of 1.75%. The company had revenue of $74.20 million during the quarter, compared to analyst estimates of $69.02 million. During the same quarter last year, the business posted $0.01 EPS. Chegg’s quarterly revenue was up 18.5% compared to the same quarter last year. Equities analysts forecast that Chegg Inc will post 0.09 earnings per share for the current fiscal year.
Hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. increased its stake in shares of 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 during the last quarter. Bank of Montreal Can increased its stake in shares of 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 purchasing an additional 5,089 shares during the last quarter. NewSquare Capital LLC purchased a new stake in shares of Chegg during the 2nd quarter worth approximately $178,000. BB&T Securities LLC purchased a new stake in shares of Chegg during the 2nd quarter worth approximately $209,000. Finally, National Asset Management Inc. purchased a new stake in shares of Chegg during the 3rd quarter worth approximately $223,000.
Several equities analysts have commented on CHGG shares. Zacks Investment Research raised shares of Chegg from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research report on Thursday, November 8th. Citigroup raised shares of Chegg from a “neutral” rating to a “buy” rating in a research report on Thursday, October 25th. Barrington Research reissued a “buy” rating and set a $32.00 target price on shares of Chegg in a research report on Monday, October 22nd. Craig Hallum raised shares of Chegg from a “hold” rating to a “buy” rating in a research report on Tuesday, October 2nd. Finally, Morgan Stanley lifted their target price on shares of Chegg from $24.00 to $28.00 and gave the stock a “hold” rating in a research report on Wednesday, August 1st. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $26.80.
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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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