Chegg Inc (NYSE:CHGG) insider Jenny Brandemuehl sold 68,953 shares of the firm’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $38.00, for a total transaction of $2,620,214.00. Following the completion of the transaction, the insider now owns 301,683 shares in the company, valued at $11,463,954. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
Shares of Chegg stock opened at $37.80 on Friday. The company has a quick ratio of 8.29, a current ratio of 8.29 and a debt-to-equity ratio of 0.69. Chegg Inc has a fifty-two week low of $20.40 and a fifty-two week high of $41.69. The firm has a market capitalization of $4.43 billion, a price-to-earnings ratio of 420.00, a P/E/G ratio of 7.50 and a beta of 1.30.
Chegg (NYSE:CHGG) last issued its quarterly earnings results on Monday, February 11th. The technology company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. Chegg had a negative net margin of 4.64% and a positive return on equity of 4.31%. The firm had revenue of $95.68 million during the quarter, compared to the consensus estimate of $91.74 million. On average, equities research analysts expect that Chegg Inc will post 0.17 earnings per share for the current fiscal year.
CHGG has been the topic of a number of research analyst reports. Craig Hallum raised their target price on shares of Chegg from $34.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, February 12th. Zacks Investment Research upgraded shares of Chegg from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research note on Tuesday, January 1st. Berenberg Bank initiated coverage on shares of Chegg in a research note on Wednesday, March 6th. They issued a “buy” rating and a $48.00 target price on the stock. Barrington Research reiterated a “buy” rating on shares of Chegg in a research note on Wednesday. Finally, Lake Street Capital increased their price target on shares of Chegg to $33.00 and gave the company a “hold” rating in a report on Tuesday, February 12th. Six investment 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 stock. The stock currently has an average rating of “Buy” and a consensus target price of $37.60.
A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Chegg by 12.8% in the 3rd quarter. Vanguard Group Inc. now owns 10,365,544 shares of the technology company’s stock valued at $294,693,000 after purchasing an additional 1,174,038 shares during the period. Vanguard Group Inc lifted its holdings in shares of Chegg by 12.8% during the 3rd quarter. Vanguard Group Inc now owns 10,365,544 shares of the technology company’s stock worth $294,693,000 after acquiring an additional 1,174,038 shares during the period. Baillie Gifford & Co. lifted its holdings in shares of Chegg by 48.3% during the 4th quarter. Baillie Gifford & Co. now owns 8,230,708 shares of the technology company’s stock worth $233,917,000 after acquiring an additional 2,679,867 shares during the period. BlackRock Inc. lifted its holdings in shares of Chegg by 3.7% during the 4th quarter. BlackRock Inc. now owns 7,352,411 shares of the technology company’s stock worth $208,956,000 after acquiring an additional 262,200 shares during the period. Finally, Sylebra HK Co Ltd lifted its holdings in shares of Chegg by 4.5% during the 4th quarter. Sylebra HK Co Ltd now owns 6,946,262 shares of the technology company’s stock worth $197,413,000 after acquiring an additional 301,487 shares during the period.
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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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