Insider Selling: Chegg Inc (CHGG) Insider Sells $472,617.88 in Stock
Chegg Inc (NYSE:CHGG) insider Michael A. Osier sold 27,916 shares of Chegg stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $16.93, for a total transaction of $472,617.88. Following the sale, the insider now owns 581,902 shares in the company, valued at $9,851,600.86. The sale was disclosed in a document filed with the SEC, which is available through this link.
Chegg Inc (CHGG) opened at $16.79 on Friday. Chegg Inc has a one year low of $6.84 and a one year high of $17.04.
Chegg (NYSE:CHGG) last posted its quarterly earnings data on Monday, October 30th. The technology company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. The company had revenue of $62.60 million for the quarter, compared to analyst estimates of $57.75 million. Chegg had a negative net margin of 10.40% and a negative return on equity of 5.06%. Chegg’s quarterly revenue was down 12.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.17) earnings per share. sell-side analysts expect that Chegg Inc will post -0.09 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. TIAA CREF Investment Management LLC boosted its holdings in shares of Chegg by 6.1% in the second quarter. TIAA CREF Investment Management LLC now owns 226,381 shares of the technology company’s stock valued at $2,782,000 after acquiring an additional 13,011 shares in the last quarter. Swiss National Bank boosted its holdings in shares of Chegg by 30.9% in the third quarter. Swiss National Bank now owns 150,100 shares of the technology company’s stock valued at $2,227,000 after acquiring an additional 35,400 shares in the last quarter. Columbus Circle Investors purchased a new stake in shares of Chegg in the third quarter valued at about $14,234,000. Pier Capital LLC boosted its holdings in shares of Chegg by 2.8% in the second quarter. Pier Capital LLC now owns 363,940 shares of the technology company’s stock valued at $4,473,000 after acquiring an additional 9,853 shares in the last quarter. Finally, Summit Creek Advisors LLC purchased a new stake in shares of Chegg in the third quarter valued at about $2,557,000.
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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.
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