Shares of Chegg, Inc. (NYSE:CHGG – Get Rating) have been assigned an average recommendation of “Hold” from the fifteen ratings firms that are presently covering the stock, Marketbeat reports. Eleven analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $25.67.
CHGG has been the subject of several recent research reports. Northland Securities upped their price objective on Chegg from $32.00 to $35.00 in a research report on Friday, December 2nd. Citigroup increased their price target on Chegg from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Wednesday, November 2nd. Needham & Company LLC lowered Chegg from a “buy” rating to a “hold” rating in a research note on Wednesday. BMO Capital Markets upped their price objective on Chegg from $23.00 to $26.00 and gave the company a “market perform” rating in a research note on Thursday, November 3rd. Finally, Barrington Research increased their target price on Chegg from $25.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 2nd.
Insider Transactions at Chegg
In other news, Director Paul Leblanc sold 12,890 shares of Chegg stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $28.00, for a total value of $360,920.00. Following the completion of the transaction, the director now directly owns 11,861 shares of the company’s stock, valued at approximately $332,108. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, COO Nathan J. Schultz sold 25,000 shares of the business’s stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $25.35, for a total value of $633,750.00. Following the completion of the sale, the chief operating officer now directly owns 237,500 shares of the company’s stock, valued at approximately $6,020,625. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul Leblanc sold 12,890 shares of Chegg stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $28.00, for a total value of $360,920.00. Following the transaction, the director now owns 11,861 shares of the company’s stock, valued at approximately $332,108. The disclosure for this sale can be found here. Corporate insiders own 2.25% of the company’s stock.
Hedge Funds Weigh In On Chegg
Hedge funds and other institutional investors have recently modified their holdings of the business. Wipfli Financial Advisors LLC purchased a new position in shares of Chegg in the 3rd quarter worth approximately $36,000. Bank Julius Baer & Co. Ltd Zurich lifted its stake in Chegg by 42.5% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,810 shares of the technology company’s stock valued at $34,000 after purchasing an additional 540 shares during the last quarter. Captrust Financial Advisors lifted its stake in Chegg by 79.6% in the first quarter. Captrust Financial Advisors now owns 2,012 shares of the technology company’s stock valued at $73,000 after purchasing an additional 892 shares during the last quarter. Kessler Investment Group LLC purchased a new position in Chegg in the second quarter valued at approximately $65,000. Finally, Toroso Investments LLC purchased a new position in Chegg in the first quarter valued at approximately $230,000. Hedge funds and other institutional investors own 92.88% of the company’s stock.
Chegg Trading Down 16.6 %
NYSE CHGG opened at $20.38 on Thursday. The stock has a 50-day simple moving average of $26.96 and a 200 day simple moving average of $23.25. The company has a market capitalization of $2.56 billion, a PE ratio of 13.77, a P/E/G ratio of 3.77 and a beta of 1.11. The company has a current ratio of 7.19, a quick ratio of 7.19 and a debt-to-equity ratio of 1.13. Chegg has a 12 month low of $15.66 and a 12 month high of $37.64.
Chegg (NYSE:CHGG – Get Rating) last posted its earnings results on Tuesday, November 1st. The technology company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.04. Chegg had a return on equity of 7.19% and a net margin of 37.58%. The firm had revenue of $164.74 million during the quarter, compared to analysts’ expectations of $158.20 million. Research analysts forecast that Chegg will post 0.41 EPS for the current year.
About Chegg
Chegg, Inc operates a learning platform for students. It intends to empower students to take control of their education and help the students study, college admissions exams, accomplish their goals, get grades and test scores. The firm offers required and non-required scholastic materials including textbooks in any format, access to online homework help and textbook solutions, course organization and scheduling, college and university matching tools and scholarship connections.