Chegg (CHGG) Reaches New 12-Month High at $31.28

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Chegg Inc (NYSE:CHGG) reached a new 52-week high during trading on Tuesday . The company traded as high as $31.28 and last traded at $31.19, with a volume of 21529 shares traded. The stock had previously closed at $30.97.

A number of equities research analysts recently commented on the company. Citigroup increased their price target on Chegg from $22.70 to $24.00 and gave the stock a “hold” rating in a research report on Monday, April 30th. Lake Street Capital increased their price target on Chegg from $20.00 to $26.00 and gave the stock a “hold” rating in a research report on Tuesday, July 31st. Morgan Stanley increased their price target on Chegg from $24.00 to $28.00 and gave the stock a “hold” rating in a research report on Wednesday, August 1st. Jefferies Financial Group lowered Chegg from a “buy” rating to a “hold” rating and decreased their price objective for the company from $27.00 to $14.00 in a research report on Thursday, June 21st. They noted that the move was a valuation call. Finally, Barrington Research reiterated an “outperform” rating and issued a $25.00 price objective on shares of Chegg in a research report on Friday, April 27th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company’s stock. Chegg presently has a consensus rating of “Hold” and an average target price of $23.44.

The stock has a market cap of $3.44 billion, a P/E ratio of -345.11, a price-to-earnings-growth ratio of 15.26 and a beta of 1.43. The company has a debt-to-equity ratio of 0.71, a current ratio of 10.11 and a quick ratio of 10.11.

Chegg (NYSE:CHGG) last announced its quarterly earnings data on Monday, July 30th. The technology company reported $0.12 EPS for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.04. The firm had revenue of $74.22 million for the quarter, compared to analyst estimates of $70.16 million. Chegg had a positive return on equity of 0.87% and a negative net margin of 5.01%. The business’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same period last year, the company earned $0.06 EPS. equities analysts expect that Chegg Inc will post 0.07 EPS for the current year.

In other Chegg news, CEO Daniel Rosensweig sold 150,000 shares of the stock in a transaction on Tuesday, June 12th. The stock was sold at an average price of $29.15, for a total value of $4,372,500.00. Following the transaction, the chief executive officer now directly owns 2,433,753 shares in the company, valued at approximately $70,943,899.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John E. York sold 25,000 shares of the firm’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $29.10, for a total value of $727,500.00. Following the completion of the transaction, the director now owns 33,214 shares in the company, valued at $966,527.40. The disclosure for this sale can be found here. Insiders sold a total of 681,586 shares of company stock worth $19,553,815 over the last quarter. Corporate insiders own 10.80% of the company’s stock.

Several large investors have recently bought and sold shares of CHGG. SG Americas Securities LLC bought a new position in shares of Chegg in the 1st quarter worth $137,000. NewSquare Capital LLC bought a new position in shares of Chegg in the 2nd quarter worth $178,000. BB&T Securities LLC bought a new position in shares of Chegg in the 2nd quarter worth $209,000. Strs Ohio bought a new position in shares of Chegg in the 2nd quarter worth $241,000. Finally, First Republic Investment Management Inc. bought a new position in shares of Chegg in the 2nd quarter worth $271,000.

About Chegg (NYSE:CHGG)

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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