Insider Selling: Chegg Inc (CHGG) Director Sells 12,500 Shares of Stock

Share on StockTwits

Chegg Inc (NYSE:CHGG) Director John E. York sold 12,500 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $41.06, for a total transaction of $513,250.00. Following the sale, the director now directly owns 20,714 shares in the company, valued at $850,516.84. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Shares of NYSE:CHGG opened at $39.66 on Friday. Chegg Inc has a 52 week low of $19.50 and a 52 week high of $41.69. The company has a current ratio of 8.29, a quick ratio of 8.29 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $4.74 billion, a price-to-earnings ratio of 440.67, a PEG ratio of 8.80 and a beta of 1.32.

Chegg (NYSE:CHGG) last issued its earnings results on Monday, February 11th. The technology company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.03. The business had revenue of $95.68 million during the quarter, compared to analysts’ expectations of $91.74 million. Chegg had a negative net margin of 4.64% and a positive return on equity of 4.31%. On average, research analysts forecast that Chegg Inc will post 0.16 earnings per share for the current year.

Several equities research analysts recently weighed in on CHGG shares. Craig Hallum upped their target price on shares of Chegg from $34.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, February 12th. 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 note on Tuesday, January 1st. Berenberg Bank started coverage on shares of Chegg in a research note on Wednesday, March 6th. They set a “buy” rating and a $48.00 target price on the stock. Lake Street Capital upped their target price on shares of Chegg to $33.00 and gave the stock a “hold” rating in a research note on Tuesday, February 12th. Finally, Citigroup downgraded shares of Chegg from a “buy” rating to a “neutral” rating and set a $36.00 price objective on the stock. in a research report on Friday, February 8th. Six research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $35.55.

A number of large investors have recently modified their holdings of CHGG. Bank of New York Mellon Corp boosted its stake 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 worth $11,657,000 after purchasing an additional 5,910 shares during the period. Bank of Montreal Can boosted its stake in 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 period. First Trust Advisors LP boosted its stake in Chegg by 6.6% during the 3rd quarter. First Trust Advisors LP now owns 140,638 shares of the technology company’s stock worth $3,998,000 after purchasing an additional 8,690 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in Chegg by 9.4% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 38,436 shares of the technology company’s stock worth $1,093,000 after purchasing an additional 3,300 shares during the period. Finally, US Bancorp DE boosted its stake in Chegg by 309.5% during the 3rd quarter. US Bancorp DE now owns 13,363 shares of the technology company’s stock worth $381,000 after purchasing an additional 10,100 shares during the period. Hedge funds and other institutional investors own 99.50% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Insider Selling: Chegg Inc (CHGG) Director Sells 12,500 Shares of Stock” was first reported by Ticker Report and is the property of of Ticker Report. If you are accessing this piece on another website, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The original version of this piece can be accessed at https://www.tickerreport.com/banking-finance/4239941/insider-selling-chegg-inc-chgg-director-sells-12500-shares-of-stock.html.

About Chegg

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.

Recommended Story: How does inflation affect different investments?

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

Receive News & Ratings for Chegg Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chegg and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Telcoin Price Tops $0.0006 on Major Exchanges
Telcoin Price Tops $0.0006 on Major Exchanges
Crystal Clear  Market Capitalization Tops $26,650.00
Crystal Clear Market Capitalization Tops $26,650.00
SwissBorg  Market Cap Tops $5.04 Million
SwissBorg Market Cap Tops $5.04 Million
OAX Price Hits $0.23 on Major Exchanges
OAX Price Hits $0.23 on Major Exchanges
Haven Protocol Price Tops $0.44 on Top Exchanges
Haven Protocol Price Tops $0.44 on Top Exchanges
SUQA  24 Hour Volume Hits $17,144.00
SUQA 24 Hour Volume Hits $17,144.00


© 2006-2019 Ticker Report