Chegg Inc (CHGG) CEO Daniel Rosensweig Sells 165,000 Shares

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Chegg Inc (NYSE:CHGG) CEO Daniel Rosensweig sold 165,000 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $36.58, for a total value of $6,035,700.00. Following the transaction, the chief executive officer now directly owns 2,237,161 shares in the company, valued at approximately $81,835,349.38. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

  • On Monday, April 22nd, Daniel Rosensweig sold 165,000 shares of Chegg stock. The stock was sold at an average price of $37.69, for a total value of $6,218,850.00.
  • On Wednesday, March 20th, Daniel Rosensweig sold 150,000 shares of Chegg stock. The stock was sold at an average price of $41.06, for a total value of $6,159,000.00.

NYSE CHGG traded down $1.47 during trading on Thursday, hitting $35.77. The company’s stock had a trading volume of 38,748 shares, compared to its average volume of 2,186,487. The company has a debt-to-equity ratio of 1.84, a quick ratio of 13.96 and a current ratio of 13.96. The company has a market cap of $4.34 billion, a PE ratio of 399.00, a P/E/G ratio of 8.30 and a beta of 1.22. Chegg Inc has a fifty-two week low of $22.67 and a fifty-two week high of $41.69.

Chegg (NYSE:CHGG) last issued its quarterly earnings results on Monday, April 29th. The technology company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.09). The business had revenue of $97.40 million during the quarter, compared to analyst estimates of $94.69 million. Chegg had a positive return on equity of 4.73% and a negative net margin of 4.86%. Chegg’s revenue was up 26.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.10 EPS. On average, sell-side analysts predict that Chegg Inc will post 0.15 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Baillie Gifford & Co. boosted its stake in shares of Chegg by 41.4% in the first quarter. Baillie Gifford & Co. now owns 11,636,625 shares of the technology company’s stock worth $443,588,000 after acquiring an additional 3,405,917 shares during the last quarter. Brown Advisory Inc. purchased a new stake in Chegg in the fourth quarter valued at $47,869,000. Norges Bank purchased a new stake in Chegg in the fourth quarter valued at $37,715,000. Zevenbergen Capital Investments LLC purchased a new stake in Chegg in the first quarter valued at $36,210,000. Finally, Polar Capital LLP raised its position in Chegg by 509.3% in the fourth quarter. Polar Capital LLP now owns 921,787 shares of the technology company’s stock valued at $26,197,000 after purchasing an additional 770,489 shares during the period.

A number of equities research analysts recently weighed in on the company. Lake Street Capital reaffirmed a “hold” rating and set a $34.00 price objective (up previously from $33.00) on shares of Chegg in a research report on Tuesday, April 30th. Craig Hallum reaffirmed a “buy” rating and set a $50.00 price objective (up previously from $45.00) on shares of Chegg in a research report on Tuesday, April 30th. Morgan Stanley raised their price objective on Chegg from $37.00 to $40.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 30th. Barrington Research reaffirmed a “buy” rating on shares of Chegg in a research report on Wednesday, April 17th. Finally, Zacks Investment Research downgraded Chegg from a “buy” rating to a “hold” rating in a research report on Tuesday, April 16th. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $39.40.

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About Chegg

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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