Chegg Inc (CHGG) Insider Esther Lem Sells 9,400 Shares

Chegg Inc (NYSE:CHGG) insider Esther Lem sold 9,400 shares of the firm’s stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $17.00, for a total value of $159,800.00. Following the transaction, the insider now owns 505,120 shares in the company, valued at approximately $8,587,040. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

  • On Tuesday, January 2nd, Esther Lem sold 30,000 shares of Chegg stock. The stock was sold at an average price of $16.43, for a total value of $492,900.00.
  • On Monday, December 18th, Esther Lem sold 10,000 shares of Chegg stock. The stock was sold at an average price of $16.19, for a total value of $161,900.00.
  • On Wednesday, December 20th, Esther Lem sold 20,000 shares of Chegg stock. The stock was sold at an average price of $16.35, for a total value of $327,000.00.
  • On Wednesday, December 6th, Esther Lem sold 10,000 shares of Chegg stock. The stock was sold at an average price of $14.36, for a total value of $143,600.00.

Chegg Inc (CHGG) traded down $0.19 during midday trading on Friday, hitting $16.74. The stock had a trading volume of 565,676 shares, compared to its average volume of 641,063. The firm has a market capitalization of $1,835.92, a price-to-earnings ratio of -64.38, a P/E/G ratio of 6.64 and a beta of 1.79. Chegg Inc has a 52 week low of $6.84 and a 52 week high of $17.04.

Chegg (NYSE:CHGG) last announced its earnings results on Monday, October 30th. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.02. Chegg had a negative return on equity of 5.06% and a negative net margin of 10.40%. The business had revenue of $62.60 million for the quarter, compared to analyst estimates of $57.75 million. During the same quarter last year, the firm earned ($0.17) EPS. Chegg’s revenue for the quarter was down 12.2% compared to the same quarter last year. sell-side analysts expect that Chegg Inc will post -0.09 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio raised its position in Chegg by 12.0% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 132,734 shares of the technology company’s stock valued at $1,970,000 after buying an additional 14,171 shares during the last quarter. Neuberger Berman Group LLC raised its position in Chegg by 84.0% in the 3rd quarter. Neuberger Berman Group LLC now owns 46,000 shares of the technology company’s stock valued at $683,000 after buying an additional 21,000 shares during the last quarter. California Public Employees Retirement System raised its position in Chegg by 54.5% in the 3rd quarter. California Public Employees Retirement System now owns 51,307 shares of the technology company’s stock valued at $761,000 after buying an additional 18,107 shares during the last quarter. Sylebra HK Co Ltd raised its position in Chegg by 3.8% in the 3rd quarter. Sylebra HK Co Ltd now owns 6,956,896 shares of the technology company’s stock valued at $103,240,000 after buying an additional 257,847 shares during the last quarter. Finally, Granahan Investment Management Inc. MA raised its position in Chegg by 31.1% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 714,949 shares of the technology company’s stock valued at $10,610,000 after buying an additional 169,709 shares during the last quarter.

A number of research firms have recently commented on CHGG. Zacks Investment Research lowered Chegg from a “buy” rating to a “hold” rating in a research report on Monday, September 25th. BidaskClub lowered Chegg from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. First Analysis lowered Chegg from an “overweight” rating to an “equal weight” rating and set a $18.00 price target on the stock. in a research report on Tuesday, October 31st. Northland Securities reaffirmed a “buy” rating and set a $18.00 price target on shares of Chegg in a research report on Wednesday, November 1st. Finally, Barrington Research reaffirmed an “outperform” rating and set a $19.00 price target (up previously from $17.00) on shares of Chegg in a research report on Tuesday, October 31st. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $15.58.

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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.

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

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