Chegg Inc (NYSE:CHGG) CMO Esther Lem sold 50,000 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $34.40, for a total transaction of $1,720,000.00. Following the completion of the sale, the chief marketing officer now directly owns 270,967 shares in the company, valued at $9,321,264.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Esther Lem also recently made the following trade(s):

  • On Friday, October 11th, Esther Lem sold 50,000 shares of Chegg stock. The stock was sold at an average price of $32.00, for a total transaction of $1,600,000.00.
  • On Tuesday, September 3rd, Esther Lem sold 50,000 shares of Chegg stock. The stock was sold at an average price of $39.28, for a total transaction of $1,964,000.00.

CHGG stock opened at $34.05 on Friday. The company has a current ratio of 9.50, a quick ratio of 13.22 and a debt-to-equity ratio of 1.89. The company’s 50 day moving average is $31.75 and its 200 day moving average is $37.48. The stock has a market cap of $4.10 billion, a price-to-earnings ratio of 378.33, a price-to-earnings-growth ratio of 5.04 and a beta of 0.95. Chegg Inc has a 1-year low of $23.21 and a 1-year high of $48.22.

Chegg (NYSE:CHGG) last posted its quarterly earnings data on Monday, November 4th. The technology company reported $0.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.10. The company had revenue of $94.20 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 27.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.07 earnings per share. As a group, sell-side analysts forecast that Chegg Inc will post 0.34 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. We Are One Seven LLC grew its position in Chegg by 7.4% during the second quarter. We Are One Seven LLC now owns 6,089 shares of the technology company’s stock valued at $234,000 after acquiring an additional 421 shares during the last quarter. Summit Creek Advisors LLC grew its position in Chegg by 0.3% during the second quarter. Summit Creek Advisors LLC now owns 163,180 shares of the technology company’s stock valued at $6,297,000 after acquiring an additional 450 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Chegg by 9.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,976 shares of the technology company’s stock valued at $209,000 after acquiring an additional 631 shares during the last quarter. Lisanti Capital Growth LLC grew its position in Chegg by 1.0% during the second quarter. Lisanti Capital Growth LLC now owns 67,565 shares of the technology company’s stock valued at $2,607,000 after acquiring an additional 700 shares during the last quarter. Finally, Prudential Financial Inc. grew its position in Chegg by 6.0% during the second quarter. Prudential Financial Inc. now owns 12,662 shares of the technology company’s stock valued at $489,000 after acquiring an additional 720 shares during the last quarter.

A number of equities research analysts have recently issued reports on CHGG shares. Barrington Research initiated coverage on shares of Chegg in a report on Monday, October 14th. They issued a “buy” rating and a $50.00 price target on the stock. Northland Securities restated a “buy” rating and issued a $48.00 price objective on shares of Chegg in a research report on Tuesday, September 24th. Zacks Investment Research upgraded shares of Chegg from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research report on Tuesday, November 5th. JPMorgan Chase & Co. upped their price objective on shares of Chegg from $43.00 to $49.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, Needham & Company LLC restated a “buy” rating and issued a $50.00 price objective (up from $44.00) on shares of Chegg in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $43.79.

About Chegg

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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