Chegg Inc (NYSE:CHGG) CEO Daniel Rosensweig Sells 150,000 Shares

Chegg Inc (NYSE:CHGG) CEO Daniel Rosensweig sold 150,000 shares of the firm’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $32.57, for a total transaction of $4,885,500.00. Following the transaction, the chief executive officer now directly owns 2,322,754 shares of the company’s stock, valued at $75,652,097.78. The sale was disclosed in a document filed with the SEC, which is available through this link.

Daniel Rosensweig also recently made the following trade(s):

  • On Friday, September 20th, Daniel Rosensweig sold 150,000 shares of Chegg stock. The stock was sold at an average price of $33.34, for a total transaction of $5,001,000.00.
  • On Tuesday, August 20th, Daniel Rosensweig sold 150,000 shares of Chegg stock. The stock was sold at an average price of $40.69, for a total transaction of $6,103,500.00.

Chegg stock opened at $32.76 on Wednesday. The firm’s 50-day moving average is $32.73 and its 200-day moving average is $37.93. The company has a debt-to-equity ratio of 1.90, a quick ratio of 13.22 and a current ratio of 13.22. Chegg Inc has a 1 year low of $22.67 and a 1 year high of $48.22. The company has a market cap of $3.87 billion, a P/E ratio of 364.00, a PEG ratio of 4.86 and a beta of 0.96.

Chegg (NYSE:CHGG) last posted its quarterly earnings results on Monday, July 29th. The technology company reported $0.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.06. Chegg had a negative net margin of 4.07% and a positive return on equity of 7.12%. The company had revenue of $93.90 million for the quarter, compared to the consensus estimate of $92.44 million. During the same period last year, the firm posted $0.12 EPS. The company’s revenue for the quarter was up 26.5% on a year-over-year basis. As a group, sell-side analysts predict that Chegg Inc will post 0.22 earnings per share for the current year.

Several research analysts have weighed in on the stock. Northland Securities reissued a “buy” rating and set a $48.00 price objective on shares of Chegg in a report on Tuesday, September 24th. Barrington Research assumed coverage on shares of Chegg in a report on Monday, October 14th. They set a “buy” rating and a $50.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and set a $50.00 price objective (up from $44.00) on shares of Chegg in a report on Tuesday, July 30th. Zacks Investment Research lowered shares of Chegg from a “buy” rating to a “hold” rating in a report on Monday, October 14th. Finally, ValuEngine lowered shares of Chegg from a “buy” rating to a “hold” rating in a report on Wednesday, September 25th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Chegg presently has an average rating of “Buy” and an average target price of $42.46.

Institutional investors have recently bought and sold shares of the company. NEXT Financial Group Inc lifted its position in Chegg by 1,834.0% in the 2nd quarter. NEXT Financial Group Inc now owns 1,934 shares of the technology company’s stock valued at $75,000 after purchasing an additional 1,834 shares during the last quarter. Griffin Asset Management Inc. bought a new stake in Chegg in the 2nd quarter valued at about $77,000. NumerixS Investment Technologies Inc bought a new stake in Chegg in the 2nd quarter valued at about $130,000. Tower Research Capital LLC TRC lifted its position in Chegg by 147.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,630 shares of the technology company’s stock valued at $179,000 after purchasing an additional 2,762 shares during the last quarter. Finally, MUFG Americas Holdings Corp bought a new stake in Chegg in the 2nd quarter valued at about $206,000.

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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