Traders Purchase High Volume of Put Options on Chegg (NYSE:CHGG)

Chegg, Inc. (NYSE:CHGGGet Rating) saw some unusual options trading activity on Friday. Traders acquired 3,613 put options on the company. This represents an increase of 117% compared to the typical daily volume of 1,664 put options.

Insider Activity

In other news, Director Paul Leblanc sold 12,890 shares of the firm’s stock in a transaction that occurred 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 filing with the SEC, which is available at the SEC website. In other news, COO Nathan J. Schultz sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $25.35, for a total value of $633,750.00. Following the sale, the chief operating officer now directly owns 237,500 shares in the company, valued at approximately $6,020,625. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Paul Leblanc sold 12,890 shares of Chegg stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $28.00, for a total transaction of $360,920.00. Following the sale, the director now owns 11,861 shares in the company, valued at $332,108. The disclosure for this sale can be found here. 2.25% of the stock is currently owned by corporate insiders.

Institutional Trading of Chegg

Several hedge funds have recently modified their holdings of the stock. Quent Capital LLC increased its stake in shares of Chegg by 3.1% in the 4th quarter. Quent Capital LLC now owns 16,608 shares of the technology company’s stock valued at $420,000 after acquiring an additional 500 shares in the last quarter. Counterpoint Mutual Funds LLC bought a new stake in shares of Chegg in the 4th quarter valued at $146,000. Bouvel Investment Partners LLC increased its stake in shares of Chegg by 3.5% in the 4th quarter. Bouvel Investment Partners LLC now owns 30,047 shares of the technology company’s stock valued at $759,000 after acquiring an additional 1,008 shares in the last quarter. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Chegg in the 3rd quarter valued at $4,469,000. Finally, Ashford Capital Management Inc. increased its stake in shares of Chegg by 61.1% in the 3rd quarter. Ashford Capital Management Inc. now owns 792,477 shares of the technology company’s stock valued at $16,697,000 after acquiring an additional 300,490 shares in the last quarter. Institutional investors own 92.88% of the company’s stock.

Chegg Stock Down 0.1 %

Chegg stock opened at $20.56 on Friday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 7.19 and a current ratio of 7.19. Chegg has a 52-week low of $15.66 and a 52-week high of $37.64. The firm has a 50 day moving average price of $26.65 and a two-hundred day moving average price of $23.24. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 3.77 and a beta of 1.11.

Chegg (NYSE:CHGGGet Rating) last released its quarterly earnings results on Tuesday, November 1st. The technology company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.04. The firm had revenue of $164.74 million during the quarter, compared to analyst estimates of $158.20 million. Chegg had a net margin of 37.58% and a return on equity of 7.19%. Equities analysts predict that Chegg will post 0.41 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Citigroup lifted their target price on shares of Chegg from $25.00 to $29.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 2nd. BMO Capital Markets lifted their target price on shares of Chegg from $23.00 to $26.00 and gave the stock a “market perform” rating in a research report on Thursday, November 3rd. Northland Securities lifted their target price on shares of Chegg from $32.00 to $35.00 in a research report on Friday, December 2nd. Morgan Stanley lifted their target price on shares of Chegg from $24.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 15th. Finally, StockNews.com started coverage on shares of Chegg in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Eleven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $26.18.

About Chegg

(Get Rating)

Chegg, Inc operates a learning platform for students. It intends to empower students to take control of their education and help the students study, college admissions exams, accomplish their goals, get grades and test scores. The firm offers required and non-required scholastic materials including textbooks in any format, access to online homework help and textbook solutions, course organization and scheduling, college and university matching tools and scholarship connections.

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