Esther Lem Sells 10,000 Shares of Chegg, Inc. (CHGG) Stock

Chegg, Inc. (NYSE:CHGG) insider Esther Lem sold 10,000 shares of the firm’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $14.36, for a total value of $143,600.00. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Chegg, Inc. (CHGG) traded up $0.18 on Friday, hitting $15.00. The stock had a trading volume of 595,081 shares, compared to its average volume of 772,502. Chegg, Inc. has a 12-month low of $6.84 and a 12-month high of $16.50.

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

Several equities analysts have commented on CHGG shares. Northland Securities reissued a “buy” rating and set a $16.00 price objective on shares of Chegg in a research report on Tuesday, August 29th. Zacks Investment Research lowered Chegg from a “buy” rating to a “hold” rating in a research report on Monday, September 25th. Jefferies Group reissued a “buy” rating and set a $17.00 price objective on shares of Chegg in a research report on Thursday, September 7th. Citigroup started coverage on Chegg in a research report on Monday, November 20th. They set a “buy” rating and a $19.00 price objective for the company. Finally, Barrington Research reissued an “outperform” rating and set a $19.00 price objective (up previously from $17.00) on shares of Chegg in a research report on Tuesday, October 31st. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $15.42.

Institutional investors and hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. purchased a new position in shares of Chegg in the 2nd quarter worth about $104,000. Great West Life Assurance Co. Can raised its position in shares of Chegg by 106.2% in the 3rd quarter. Great West Life Assurance Co. Can now owns 7,359 shares of the technology company’s stock worth $108,000 after purchasing an additional 3,790 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Chegg by 1,829.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,051 shares of the technology company’s stock worth $111,000 after purchasing an additional 8,582 shares during the last quarter. Stifel Financial Corp purchased a new position in shares of Chegg in the 2nd quarter worth about $116,000. Finally, Bank of America Corp DE raised its position in shares of Chegg by 29.0% in the 1st quarter. Bank of America Corp DE now owns 14,267 shares of the technology company’s stock worth $120,000 after purchasing an additional 3,205 shares during the last quarter.

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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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