Shares of Chegg, Inc. (NYSE:CHGG) have earned a consensus recommendation of “Buy” from the thirteen ratings firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $15.14.
A number of equities analysts have commented on CHGG shares. Northland Securities restated a “buy” rating and set a $16.00 price objective on shares of Chegg in a research report on Tuesday, August 29th. Jefferies Group LLC restated a “buy” rating and set a $13.00 price objective on shares of Chegg in a research report on Friday, June 23rd. Zacks Investment Research downgraded shares of Chegg from a “buy” rating to a “hold” rating in a research report on Monday, September 25th. Barrington Research restated an “outperform” rating on shares of Chegg in a research report on Friday, June 23rd. Finally, BidaskClub downgraded shares of Chegg from a “buy” rating to a “hold” rating in a research report on Saturday, August 26th.
In other news, General Counsel Dave Jr. Borders sold 13,256 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $15.06, for a total value of $199,635.36. Following the completion of the transaction, the general counsel now owns 443,810 shares in the company, valued at approximately $6,683,778.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charles Geiger sold 50,000 shares of the stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $13.73, for a total transaction of $686,500.00. Following the completion of the transaction, the insider now owns 561,500 shares of the company’s stock, valued at approximately $7,709,395. The disclosure for this sale can be found here. Insiders sold a total of 472,494 shares of company stock valued at $6,712,525 in the last quarter. Insiders own 20.40% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. US Bancorp DE increased its holdings in shares of Chegg by 4.3% in the 1st quarter. US Bancorp DE now owns 11,868 shares of the technology company’s stock valued at $100,000 after purchasing an additional 488 shares in the last quarter. PNC Financial Services Group Inc. purchased a new position in shares of Chegg in the 2nd quarter valued at about $104,000. BNP Paribas Arbitrage SA increased its holdings 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 valued at $111,000 after purchasing an additional 8,582 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Chegg by 7.2% in the 1st quarter. Principal Financial Group Inc. now owns 13,743 shares of the technology company’s stock valued at $116,000 after purchasing an additional 926 shares in the last quarter. Finally, Stifel Financial Corp purchased a new position in shares of Chegg in the 2nd quarter valued at about $116,000. Institutional investors and hedge funds own 84.80% of the company’s stock.
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Chegg (NYSE CHGG) traded up 0.92% during mid-day trading on Wednesday, reaching $15.38. 360,122 shares of the company traded hands. Chegg has a 52 week low of $6.51 and a 52 week high of $15.95. The stock’s 50 day moving average price is $14.65 and its 200 day moving average price is $12.54. The firm’s market capitalization is $1.48 billion.
Chegg (NYSE:CHGG) last announced its quarterly earnings data on Tuesday, July 25th. The technology company reported ($0.04) EPS for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.08). The firm had revenue of $56.30 million for the quarter, compared to analysts’ expectations of $53.33 million. Chegg had a negative return on equity of 8.10% and a negative net margin of 11.83%. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.05 EPS. Equities analysts forecast that Chegg will post $0.24 EPS for the current year.
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.
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