Chegg Inc (NYSE:CHGG) insider Andrew J. Brown sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, January 10th. The stock was sold at an average price of $32.75, for a total transaction of $3,275,000.00. Following the sale, the insider now directly owns 593,356 shares of the company’s stock, valued at approximately $19,432,409. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Shares of NYSE:CHGG opened at $32.36 on Friday. The company has a market capitalization of $3.73 billion, a P/E ratio of -359.56, a P/E/G ratio of 7.34 and a beta of 1.21. The company has a quick ratio of 6.56, a current ratio of 6.56 and a debt-to-equity ratio of 0.72. Chegg Inc has a one year low of $15.47 and a one year high of $33.25.

Chegg (NYSE:CHGG) last issued its quarterly earnings data on Monday, October 29th. The technology company reported $0.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.04. The business had revenue of $74.20 million during the quarter, compared to the consensus estimate of $69.02 million. Chegg had a negative net margin of 5.55% and a positive return on equity of 1.75%. The firm’s revenue was up 18.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.01 EPS. On average, research analysts forecast that Chegg Inc will post 0.09 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp increased its position in Chegg by 1.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 419,470 shares of the technology company’s stock valued at $11,657,000 after acquiring an additional 5,910 shares during the period. Strs Ohio acquired a new position in Chegg in the 2nd quarter valued at approximately $241,000. Schwab Charles Investment Management Inc. increased its position in Chegg by 11.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 482,371 shares of the technology company’s stock valued at $13,406,000 after acquiring an additional 50,830 shares during the period. BlackRock Inc. increased its position in Chegg by 17.3% in the 2nd quarter. BlackRock Inc. now owns 6,648,320 shares of the technology company’s stock valued at $184,758,000 after acquiring an additional 978,343 shares during the period. Finally, FMR LLC increased its position in Chegg by 19.3% in the 2nd quarter. FMR LLC now owns 6,321,121 shares of the technology company’s stock valued at $175,664,000 after acquiring an additional 1,022,400 shares during the period. 99.55% of the stock is owned by institutional investors and hedge funds.

A number of analysts have recently weighed in on CHGG shares. Craig Hallum raised shares of Chegg from a “hold” rating to a “buy” rating in a report on Tuesday, October 2nd. Zacks Investment Research raised shares of Chegg from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a report on Tuesday, January 1st. Barrington Research reissued a “buy” rating and issued a $32.00 price objective on shares of Chegg in a research note on Monday, October 22nd. Citigroup raised shares of Chegg from a “neutral” rating to a “buy” rating in a research note on Thursday, October 25th. Finally, Jefferies Financial Group dropped their price objective on shares of Chegg from $30.00 to $28.00 and set a “hold” rating for the company in a research note on Tuesday, October 30th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $27.56.

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Chegg Company Profile

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

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