Andrew J. Brown Sells 21,048 Shares of Chegg Inc (CHGG) Stock

Chegg Inc (NYSE:CHGG) insider Andrew J. Brown sold 21,048 shares of the firm’s stock in a transaction that occurred on Monday, January 7th. The shares were sold at an average price of $30.32, for a total value of $638,175.36. Following the completion of the transaction, the insider now owns 605,145 shares of the company’s stock, valued at approximately $18,347,996.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Shares of NYSE:CHGG opened at $32.52 on Friday. The firm has a market cap of $3.43 billion, a price-to-earnings ratio of -361.33, a P/E/G ratio of 6.75 and a beta of 1.21. Chegg Inc has a 12-month low of $15.47 and a 12-month high of $33.25. The company has a debt-to-equity ratio of 0.72, a current ratio of 6.56 and a quick ratio of 6.56.

Chegg (NYSE:CHGG) last announced its quarterly earnings data on Monday, October 29th. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.04. The business had revenue of $74.20 million during the quarter, compared to analysts’ expectations of $69.02 million. Chegg had a positive return on equity of 1.75% and a negative net margin of 5.55%. The firm’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.01 earnings per share. As a group, research analysts anticipate that Chegg Inc will post 0.09 EPS for the current year.



A number of research firms have recently commented on CHGG. Zacks Investment Research upgraded Chegg from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research note on Tuesday, January 1st. Jefferies Financial Group lowered their target price on Chegg from $30.00 to $28.00 and set a “hold” rating for the company in a research note on Tuesday, October 30th. First Analysis upgraded Chegg from a “neutral” rating to an “outperform” rating and set a $30.00 price objective for the company in a research note on Tuesday, October 30th. Citigroup upgraded Chegg from a “neutral” rating to a “buy” rating in a research note on Thursday, October 25th. Finally, Barrington Research reiterated a “buy” rating and set a $32.00 price objective on shares of Chegg in a research note on Monday, October 22nd. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $27.56.

A number of large investors have recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its position in Chegg by 1.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 419,470 shares of the technology company’s stock valued at $11,657,000 after purchasing an additional 5,910 shares during the period. Strs Ohio acquired a new stake in shares of Chegg in the 2nd quarter valued at approximately $241,000. Schwab Charles Investment Management Inc. raised its position in shares of Chegg by 11.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 482,371 shares of the technology company’s stock valued at $13,406,000 after acquiring an additional 50,830 shares during the period. BlackRock Inc. raised its position in shares of Chegg by 17.3% in the 2nd quarter. BlackRock Inc. now owns 6,648,320 shares of the technology company’s stock valued at $184,758,000 after acquiring an additional 978,343 shares during the period. Finally, FMR LLC raised its position in shares of Chegg by 19.3% in the 2nd quarter. FMR LLC now owns 6,321,121 shares of the technology company’s stock valued at $175,664,000 after acquiring an additional 1,022,400 shares during the period. Institutional investors and hedge funds own 99.55% of the company’s stock.

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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.

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Insider Buying and Selling by Quarter for Chegg (NYSE:CHGG)

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