Insider Selling: Chegg Inc (NYSE:CHGG) Insider Sells 107,590 Shares of Stock
Chegg Inc (NYSE:CHGG) insider Nathan J. Schultz sold 107,590 shares of Chegg stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $37.38, for a total transaction of $4,021,714.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of CHGG stock traded up $0.50 during midday trading on Friday, hitting $37.62. 959,866 shares of the company were exchanged, compared to its average volume of 1,727,682. The firm has a market capitalization of $4.52 billion, a P/E ratio of 418.00, a PEG ratio of 3.46 and a beta of 1.04. The company has a debt-to-equity ratio of 1.89, a quick ratio of 9.50 and a current ratio of 9.50. The firm’s 50 day moving average price is $35.68 and its two-hundred day moving average price is $37.49. Chegg Inc has a 52 week low of $25.16 and a 52 week high of $48.22.
Chegg (NYSE:CHGG) last announced its earnings results on Monday, November 4th. The technology company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.08 by $0.10. The business had revenue of $94.20 million during the quarter, compared to the consensus estimate of $89.04 million. Chegg had a negative net margin of 3.27% and a positive return on equity of 9.53%. Chegg’s revenue was up 27.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.07 EPS. Analysts expect that Chegg Inc will post 0.36 EPS for the current year.
A number of brokerages have recently commented on CHGG. Citigroup raised shares of Chegg from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $43.00 to $38.50 in a research report on Tuesday, November 5th. BMO Capital Markets decreased their price objective on shares of Chegg from $49.00 to $35.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. ValuEngine raised shares of Chegg from a “sell” rating to a “hold” rating in a research report on Monday, November 25th. Lake Street Capital decreased their price objective on shares of Chegg from $38.00 to $35.00 and set a “hold” rating for the company in a research report on Tuesday, November 5th. Finally, Jefferies Financial Group raised shares of Chegg from a “hold” rating to a “buy” rating and decreased their price objective for the company from $46.00 to $44.00 in a research report on Monday, September 9th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Chegg currently has an average rating of “Buy” and an average price target of $43.88.
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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