Chegg, Inc. (NYSE:CHGG) insider Charles Geiger sold 25,000 shares of the business’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $11.66, for a total value of $291,500.00. Following the completion of the transaction, the insider now owns 536,500 shares in the company, valued at approximately $6,255,590. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Chegg, Inc. (CHGG) traded down 1.17% during trading on Tuesday, reaching $11.86. The company’s stock had a trading volume of 224,957 shares. Chegg, Inc. has a 52 week low of $4.57 and a 52 week high of $13.00. The stock’s market capitalization is $1.12 billion. The firm has a 50 day moving average of $11.86 and a 200 day moving average of $8.88.
Chegg (NYSE:CHGG) last posted its quarterly earnings data on Thursday, May 4th. The technology company reported $0.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.03. Chegg had a negative net margin of 13.18% and a negative return on equity of 9.88%. The business had revenue of $62.60 million for the quarter, compared to analyst estimates of $58.46 million. During the same quarter last year, the business earned ($0.03) earnings per share. The business’s revenue for the quarter was down 6.1% on a year-over-year basis. Analysts expect that Chegg, Inc. will post $0.22 EPS for the current year.
TRADEMARK VIOLATION WARNING: “Charles Geiger Sells 25,000 Shares of Chegg, Inc. (CHGG) Stock” was first published by sleekmoney and is owned by of sleekmoney. If you are accessing this piece of content on another website, it was copied illegally and republished in violation of U.S. & international trademark & copyright law. The correct version of this piece of content can be accessed at https://sleekmoney.com/charles-geiger-sells-25000-shares-of-chegg-inc-chgg-stock/1924691.html.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. raised its position in Chegg by 223.2% in the first quarter. Goldman Sachs Group Inc. now owns 412,052 shares of the technology company’s stock worth $3,478,000 after buying an additional 284,557 shares in the last quarter. Ashford Capital Management Inc. raised its position in Chegg by 30.8% in the first quarter. Ashford Capital Management Inc. now owns 2,193,224 shares of the technology company’s stock worth $18,511,000 after buying an additional 516,374 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its position in Chegg by 6.0% in the first quarter. Metropolitan Life Insurance Co. NY now owns 54,392 shares of the technology company’s stock worth $459,000 after buying an additional 3,080 shares in the last quarter. Sylebra HK Co Ltd raised its position in Chegg by 0.5% in the first quarter. Sylebra HK Co Ltd now owns 6,699,049 shares of the technology company’s stock worth $56,540,000 after buying an additional 30,164 shares in the last quarter. Finally, Bank of America Corp DE raised its position in Chegg by 29.0% in the first quarter. Bank of America Corp DE now owns 14,267 shares of the technology company’s stock worth $120,000 after buying an additional 3,205 shares in the last quarter. Institutional investors and hedge funds own 77.24% of the company’s stock.
CHGG has been the topic of several recent research reports. Craig Hallum upgraded Chegg from a “hold” rating to a “buy” rating in a research report on Tuesday, April 4th. Jefferies Group LLC boosted their price target on Chegg from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, May 2nd. Lake Street Capital restated a “buy” rating and issued a $12.00 price target (up previously from $9.00) on shares of Chegg in a research report on Tuesday, May 2nd. Zacks Investment Research upgraded Chegg from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research report on Friday, May 5th. Finally, ValuEngine upgraded Chegg from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $11.08.
Chegg Company Profile
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.
This story was originally published by sleekmoney (https://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://sleekmoney.com/charles-geiger-sells-25000-shares-of-chegg-inc-chgg-stock/1924691.html
Receive News & Ratings for Chegg Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chegg Inc. and related companies with MarketBeat.com's FREE daily email newsletter.