Insider Selling: Chegg Inc (NYSE:CHGG) Insider Sells $697,769.94 in Stock

Chegg Inc (NYSE:CHGG) insider Michael A. Osier sold 16,527 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $42.22, for a total transaction of $697,769.94. Following the transaction, the insider now owns 542,856 shares of the company’s stock, valued at $22,919,380.32. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

CHGG opened at $44.73 on Friday. The stock has a 50-day moving average price of $38.89. The company has a current ratio of 13.96, a quick ratio of 13.96 and a debt-to-equity ratio of 1.84. Chegg Inc has a twelve month low of $22.67 and a twelve month high of $44.83. The company has a market cap of $5.17 billion, a price-to-earnings ratio of 497.00, a price-to-earnings-growth ratio of 7.11 and a beta of 1.02.

Chegg (NYSE:CHGG) last posted its earnings results on Monday, April 29th. The technology company reported $0.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.09). Chegg had a positive return on equity of 4.73% and a negative net margin of 4.86%. The firm had revenue of $97.40 million during the quarter, compared to the consensus estimate of $94.69 million. During the same period in the previous year, the company posted $0.10 EPS. The firm’s revenue for the quarter was up 26.6% compared to the same quarter last year. As a group, sell-side analysts predict that Chegg Inc will post 0.19 EPS for the current fiscal year.

CHGG has been the subject of a number of recent research reports. Lake Street Capital cut shares of CommVault Systems from a “buy” rating to a “hold” rating and dropped their price objective for the company from $69.00 to $60.00 in a research note on Tuesday, April 30th. Barrington Research set a $37.00 price objective on shares of Lawson Products and gave the company a “buy” rating in a research note on Wednesday, April 17th. Needham & Company LLC restated a “hold” rating on shares of GrubHub in a research note on Wednesday, June 5th. Zacks Investment Research cut shares of ExlService from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Morgan Stanley restated an “equal weight” rating and issued a GBX 250 ($3.27) price objective on shares of BT Group in a research note on Tuesday, April 30th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Chegg presently has a consensus rating of “Buy” and a consensus price target of $40.36.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Stephens Inc. AR grew its holdings in Chegg by 1,027.2% during the 1st quarter. Stephens Inc. AR now owns 1,781 shares of the technology company’s stock worth $68,000 after acquiring an additional 1,623 shares during the last quarter. Icon Wealth Partners LLC bought a new position in shares of Chegg during the 1st quarter worth approximately $71,000. PRW Wealth Management LLC bought a new position in shares of Chegg during the 4th quarter worth approximately $56,000. Quantamental Technologies LLC bought a new position in shares of Chegg during the 1st quarter worth approximately $81,000. Finally, Institutional & Family Asset Management LLC grew its stake in shares of Chegg by 870.9% during the 1st quarter. Institutional & Family Asset Management LLC now owns 2,670 shares of the technology company’s stock worth $102,000 after acquiring an additional 2,395 shares in the last quarter.

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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