Chegg Inc (NYSE:CHGG) was the target of unusually large options trading activity on Wednesday. Traders acquired 1,927 put options on the company. This represents an increase of 1,327% compared to the typical volume of 135 put options.

A number of equities analysts have weighed in on CHGG shares. BMO Capital Markets reiterated a “buy” rating and issued a $20.00 price target on shares of Chegg in a research report on Wednesday, January 17th. Northland Securities reiterated a “buy” rating and issued a $20.00 price target on shares of Chegg in a research report on Tuesday, January 9th. Citigroup started coverage on shares of Chegg in a research report on Monday, November 20th. They issued a “buy” rating and a $19.00 price target for the company. BidaskClub upgraded shares of Chegg from a “hold” rating to a “buy” rating in a research report on Tuesday, October 31st. Finally, First Analysis lowered shares of Chegg from an “overweight” rating to an “equal weight” rating and set a $18.00 target price for the company. in a research report on Tuesday, October 31st. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $17.09.

Chegg (CHGG) opened at $18.99 on Thursday. Chegg has a 12-month low of $7.81 and a 12-month high of $19.96.

Chegg (NYSE:CHGG) last issued its earnings results on Monday, February 12th. The technology company reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.02. Chegg had a negative net margin of 7.95% and a negative return on equity of 2.64%. The firm had revenue of $73.51 million during the quarter, compared to analyst estimates of $70.61 million. During the same quarter in the prior year, the business earned $0.10 earnings per share. Chegg’s revenue for the quarter was up 16.5% on a year-over-year basis. sell-side analysts predict that Chegg will post 0.1 earnings per share for the current year.

In other Chegg news, insider Esther Lem sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $17.50, for a total value of $175,000.00. Following the completion of the transaction, the insider now directly owns 455,120 shares in the company, valued at $7,964,600. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael A. Osier sold 200,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $15.25, for a total transaction of $3,050,000.00. Following the completion of the transaction, the insider now owns 653,061 shares of the company’s stock, valued at $9,959,180.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 869,323 shares of company stock valued at $14,302,385. Company insiders own 20.40% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Great West Life Assurance Co. Can lifted its position in Chegg by 106.2% during the third quarter. Great West Life Assurance Co. Can now owns 7,359 shares of the technology company’s stock valued at $108,000 after purchasing an additional 3,790 shares during the last quarter. PNC Financial Services Group Inc. bought a new position in Chegg during the second quarter valued at $104,000. Stifel Financial Corp bought a new position in Chegg during the second quarter valued at $116,000. Raymond James Financial Services Advisors Inc. bought a new position in Chegg during the third quarter valued at $161,000. Finally, Amalgamated Bank lifted its position in Chegg by 9.0% during the second 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 last quarter.

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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.

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