Chegg Inc (NYSE:CHGG) CMO Esther Lem sold 50,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $36.33, for a total transaction of $1,816,500.00. Following the transaction, the chief marketing officer now directly owns 308,325 shares in the company, valued at $11,201,447.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
- On Wednesday, May 1st, Esther Lem sold 50,000 shares of Chegg stock. The stock was sold at an average price of $35.80, for a total transaction of $1,790,000.00.
- On Friday, April 5th, Esther Lem sold 50,000 shares of Chegg stock. The stock was sold at an average price of $37.29, for a total transaction of $1,864,500.00.
Chegg stock traded up $0.34 during mid-day trading on Wednesday, hitting $38.85. 735,800 shares of the company traded hands, compared to its average volume of 1,881,787. Chegg Inc has a one year low of $22.67 and a one year high of $41.69. The firm has a market cap of $4.58 billion, a PE ratio of 431.67, a PEG ratio of 6.91 and a beta of 1.11. The company has a debt-to-equity ratio of 1.84, a current ratio of 13.96 and a quick ratio of 13.96.
Chegg (NYSE:CHGG) last announced its earnings results on Monday, April 29th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.09). The company had revenue of $97.40 million for the quarter, compared to the consensus estimate of $94.69 million. Chegg had a negative net margin of 4.86% and a positive return on equity of 4.73%. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.10 earnings per share. As a group, research analysts anticipate that Chegg Inc will post 0.19 earnings per share for the current year.
Several equities analysts have recently weighed in on the stock. Needham & Company LLC assumed coverage on shares of Chegg in a research note on Wednesday, June 5th. They issued a “buy” rating and a $44.00 target price for the company. Lake Street Capital reiterated a “hold” rating and issued a $34.00 target price (up previously from $33.00) on shares of Chegg in a research note on Tuesday, April 30th. Craig Hallum reiterated a “buy” rating and issued a $50.00 target price (up previously from $45.00) on shares of Chegg in a research note on Tuesday, April 30th. Morgan Stanley boosted their price objective on shares of Chegg from $37.00 to $40.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 30th. Finally, Barrington Research reaffirmed a “buy” rating on shares of Chegg in a research note on Wednesday, April 17th. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $39.82.
A number of institutional investors have recently modified their holdings of the business. Baillie Gifford & Co. boosted its stake in Chegg by 41.4% in the 1st quarter. Baillie Gifford & Co. now owns 11,636,625 shares of the technology company’s stock worth $443,588,000 after purchasing an additional 3,405,917 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Chegg by 10.5% in the first quarter. BlackRock Inc. now owns 8,122,187 shares of the technology company’s stock valued at $309,618,000 after purchasing an additional 769,776 shares in the last quarter. Sylebra HK Co Ltd lifted its position in Chegg by 4.5% in the fourth quarter. Sylebra HK Co Ltd now owns 6,946,262 shares of the technology company’s stock worth $197,413,000 after buying an additional 301,487 shares during the last quarter. Artisan Partners Limited Partnership lifted its position in shares of Chegg by 0.8% during the first quarter. Artisan Partners Limited Partnership now owns 2,119,720 shares of the technology company’s stock worth $80,804,000 after purchasing an additional 16,848 shares during the last quarter. Finally, Lord Abbett & CO. LLC lifted its position in shares of Chegg by 37.7% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,859,586 shares of the technology company’s stock worth $52,849,000 after purchasing an additional 508,963 shares during the last quarter.
Chegg Company Profile
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.