The company is now up by 4.02 percent from yesterday’s close. It is currently trading at $13.20 barely above the 50 day moving average which is $12.10 and a tad above the 200 day moving average of $9.12. The 50 day moving average was up $1.11 or +9.16% and the 200 day average moved up $4.09.
There has been some selling insider activity on Chegg, Inc. (NYSE:CHGG) recently. CHIEF FINANCIAL OFFICER Andrew J. Brown disclosed the sale of 100,000 shares. The shares were sold on June 8th for an average price of $13.00. Brown now owns $1,522,521 of the stock according to the SEC filing. Nathan J. Schultz, CHIEF LEARNING OFFICER disclosed the sale of 15,274 shares of CHGG stock. The shares were purchased at an average price of $13.00. The CHIEF LEARNING OFFICER now owns $6,723,366 of the stock per the Form 4 SEC filing.
CHIEF FINANCIAL OFFICER Andrew J. Brown sold 100,000 shares at an average price of $12.50 on Thu the 1st. Brown now owns $2,713,963 of stock as recorded in a recent Form 4 SEC filing.
Chegg, Inc., launched on July 29, 2005, 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. It also offers eTextbooks library for rent and sale. The Company also has live tutors on its connected learning platform available to students online, anytime, anywhere through its Chegg Tutors service. It provides access to internships to help students gain skills that are critical to securing their first job..
The following firms have also recently changed their position in CHGG. Tower Research Capital LLC (trc) divested its stake by selling 4,744 shares a decrease of 92.2% as of 03/31/2017. Tower Research Capital LLC (trc) controls 400 shares worth $3,000. The total value of its holdings decreased 92.1%. As of the end of the quarter Goldman Sachs Group Inc had disposed of 22 shares trimming its stake by 0.1%. The value in dollars went from $133,000 to $152,000 increasing 14.3% quarter over quarter.
Sylebra Hk Co Ltd bolstered its investment by buying 30,164 shares an increase of 0.5% in the quarter. Sylebra Hk Co Ltd owns 6,699,049 shares valued at $56,540,000. The value of the position overall is up by 14.9%. Price T Rowe Associates Inc /md/ expanded its ownership by buying 2,027,030 shares an increase of 54.6%. Price T Rowe Associates Inc /md/ now holds 5,738,630 shares with a value of $48,434,000. The value of the position overall is up by 76.8%.
February 23 investment analysts at JP Morgan maintained a stock rating of “Overweight” but lowered the price target from $12.00 to $8.00. Equity analyst Craig-Hallum began coverage setting a rating of “Buy”.
On August 4 Piper Jaffray made no change to the stock rating of “Overweight” and raised the price expectation to $9.50 from $9.00. August 4 investment analysts at Bank of America left the company rating at “Buy” and moved up the price target from $10.50 to $11.00.
On July 9 analysts at Barrington Research added the stock to its research portfolio with an initial rating of “Outperform” and a price target of $16.00. Equity analyst BMO Capital raised the price target and upgraded the stock on February 24 boosting the price target from $8.00 to $10.00 and changing the rating from “Market Perform” to “Outperform”.
In the last earnings report the EPS was $-0.36 and is estimated to be $0.22 for the current year with 94,451,000 shares now outstanding. Analysts expect next quarter’s EPS to be $-0.01 and the next full year EPS is anticipated to be $0.43.