Chegg, Inc. (NYSE:CHGG) Director Paul Leblanc Sells 12,890 Shares

Chegg, Inc. (NYSE:CHGGGet Rating) Director Paul Leblanc sold 12,890 shares of the firm’s stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $28.00, for a total value of $360,920.00. Following the sale, the director now directly owns 11,861 shares in the company, valued at approximately $332,108. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Chegg Stock Down 1.6 %

Shares of CHGG stock opened at $28.29 on Friday. The company has a market capitalization of $3.55 billion, a price-to-earnings ratio of 19.11, a PEG ratio of 4.62 and a beta of 0.98. Chegg, Inc. has a one year low of $15.66 and a one year high of $37.64. The company’s fifty day moving average price is $22.93 and its 200-day moving average price is $20.88. The company has a debt-to-equity ratio of 1.13, a current ratio of 7.19 and a quick ratio of 7.19.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Northland Securities lifted their price objective on Chegg from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 2nd. TheStreet raised shares of Chegg from a “d+” rating to a “c-” rating in a report on Monday, August 22nd. Barrington Research lifted their price target on shares of Chegg from $25.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, November 2nd. Morgan Stanley boosted their target price on shares of Chegg from $22.00 to $24.00 and gave the company an “equal weight” rating in a report on Wednesday, November 2nd. Finally, Piper Sandler boosted their target price on shares of Chegg from $23.00 to $24.00 and gave the company a “neutral” rating in a report on Wednesday, November 2nd. Eleven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Chegg presently has an average rating of “Hold” and a consensus price target of $29.00.

Hedge Funds Weigh In On Chegg

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of Chegg by 42.5% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,810 shares of the technology company’s stock worth $34,000 after buying an additional 540 shares in the last quarter. Parkwood LLC lifted its holdings in Chegg by 276.5% during the 2nd quarter. Parkwood LLC now owns 33,516 shares of the technology company’s stock valued at $34,000 after buying an additional 24,613 shares in the last quarter. Wipfli Financial Advisors LLC bought a new stake in shares of Chegg in the 3rd quarter valued at about $36,000. Meeder Asset Management Inc. bought a new stake in shares of Chegg in the 1st quarter valued at about $48,000. Finally, Kessler Investment Group LLC bought a new stake in shares of Chegg in the 2nd quarter valued at about $65,000. 95.61% of the stock is owned by hedge funds and other institutional investors.

Chegg Company Profile

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Chegg, Inc operates direct-to-student learning platform that supports students starting with their academic journey and extending into their careers with products and services to support and help them better understand their academic course materials. The company offers Chegg Services, which include subscription services; and required materials that comprise its print textbooks and eTextbooks.

Further Reading

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