Shares of Chegg, Inc. (NYSE:CHGG) have earned a consensus rating of “Buy” from the thirteen brokerages that are covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $15.25.

Several research analysts recently weighed in on CHGG shares. Northland Securities reaffirmed a “buy” rating and set a $16.00 target price on shares of Chegg in a research note on Tuesday, August 29th. Jefferies Group LLC reaffirmed a “buy” rating and set a $13.00 target price on shares of Chegg in a research note on Friday, June 23rd. ValuEngine raised Chegg from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub cut Chegg from a “buy” rating to a “hold” rating in a research note on Saturday, August 26th. Finally, Barrington Research reaffirmed an “outperform” rating on shares of Chegg in a research note on Friday, June 23rd.

In related news, insider Charles Geiger sold 50,000 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $14.53, for a total value of $726,500.00. Following the completion of the transaction, the insider now owns 561,500 shares in the company, valued at approximately $8,158,595. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andrew J. Brown sold 100,000 shares of the stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $14.00, for a total value of $1,400,000.00. Following the completion of the transaction, the insider now owns 678,760 shares of the company’s stock, valued at approximately $9,502,640. The disclosure for this sale can be found here. Insiders sold a total of 452,268 shares of company stock valued at $6,267,118 in the last quarter. 20.40% of the stock is currently owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the stock. US Bancorp DE boosted its position in shares of Chegg by 4.3% in the 1st quarter. US Bancorp DE now owns 11,868 shares of the technology company’s stock valued at $100,000 after purchasing an additional 488 shares during the period. Legal & General Group Plc boosted its position in shares of Chegg by 2.6% in the 2nd quarter. Legal & General Group Plc now owns 20,648 shares of the technology company’s stock valued at $254,000 after purchasing an additional 525 shares during the period. Amalgamated Bank boosted its position in shares of Chegg by 9.0% in the 2nd quarter. Amalgamated Bank now owns 10,916 shares of the technology company’s stock valued at $134,000 after purchasing an additional 905 shares during the period. Principal Financial Group Inc. boosted its position in shares of Chegg by 7.2% in the 1st quarter. Principal Financial Group Inc. now owns 13,743 shares of the technology company’s stock valued at $116,000 after purchasing an additional 926 shares during the period. Finally, Nationwide Fund Advisors boosted its position in shares of Chegg by 2.2% in the 2nd quarter. Nationwide Fund Advisors now owns 47,047 shares of the technology company’s stock valued at $578,000 after purchasing an additional 1,005 shares during the period. Institutional investors and hedge funds own 84.80% of the company’s stock.

Chegg (NYSE:CHGG) last issued its quarterly earnings results on Tuesday, July 25th. The technology company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08). The business had revenue of $56.30 million for the quarter, compared to analyst estimates of $53.33 million. Chegg had a negative net margin of 11.83% and a negative return on equity of 8.10%. Chegg’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period last year, the business posted $0.05 earnings per share.

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About Chegg

Chegg, Inc is a student-first connected learning platform. The Company helps students study for college admission exams, find the colleges, get grades and test scores while in school, and find internships that allow them to gain skills to help them enter the workforce after college. The Company matches domestic and international students with colleges, universities and other academic institutions (collectively referred to as colleges) in the United States.

Analyst Recommendations for Chegg (NYSE:CHGG)

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