Chegg, Inc. (NYSE:CHGG) Receives Average Rating of “Hold” from Brokerages

Chegg, Inc. (NYSE:CHGG – Get Rating) has earned an average recommendation of “Hold” from the seventeen brokerages that are presently covering the stock, MarketBeat.com reports. Eight analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $17.00.

A number of brokerages have recently commented on CHGG. Jefferies Financial Group lowered shares of Chegg from a “buy” rating to a “hold” rating and decreased their price target for the stock from $25.00 to $11.00 in a report on Tuesday, May 2nd. JPMorgan Chase & Co. cut their price objective on shares of Chegg from $23.00 to $19.00 and set a “neutral” rating for the company in a research note on Tuesday, February 7th. BMO Capital Markets cut their price objective on shares of Chegg from $20.00 to $12.00 in a research note on Wednesday, May 3rd. Craig Hallum cut their price objective on shares of Chegg from $25.00 to $18.00 in a research note on Tuesday, May 2nd. Finally, Northland Securities cut shares of Chegg from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 2nd.

Insider Buying and Selling at Chegg

In related news, CMO Esther Lem sold 5,700 shares of the company’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $16.86, for a total transaction of $96,102.00. Following the completion of the sale, the chief marketing officer now owns 171,300 shares in the company, valued at $2,888,118. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Chegg news, CMO Esther Lem sold 5,700 shares of the company’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $16.86, for a total value of $96,102.00. Following the completion of the sale, the chief marketing officer now owns 171,300 shares in the company, valued at $2,888,118. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Nathan J. Schultz sold 4,041 shares of the company’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $15.64, for a total value of $63,201.24. Following the completion of the sale, the chief operating officer now owns 224,637 shares of the company’s stock, valued at approximately $3,513,322.68. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Chegg

Hedge funds have recently made changes to their positions in the business. CWM LLC boosted its stake in shares of Chegg by 80.1% in the first quarter. CWM LLC now owns 1,522 shares of the technology company’s stock worth $25,000 after acquiring an additional 677 shares during the period. Compagnie Lombard Odier SCmA bought a new position in Chegg during the fourth quarter valued at approximately $27,000. AM Squared Ltd bought a new position in Chegg during the first quarter valued at approximately $47,000. Captrust Financial Advisors boosted its stake in Chegg by 79.6% during the first quarter. Captrust Financial Advisors now owns 2,012 shares of the technology company’s stock valued at $73,000 after buying an additional 892 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new position in Chegg during the fourth quarter valued at approximately $79,000. Institutional investors own 92.88% of the company’s stock.

Chegg Stock Performance

Chegg stock opened at $9.47 on Wednesday. The firm’s 50 day simple moving average is $14.55 and its 200 day simple moving average is $20.08. The company has a current ratio of 4.56, a quick ratio of 4.56 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $1.13 billion, a PE ratio of 7.17, a price-to-earnings-growth ratio of 21.89 and a beta of 1.15. Chegg has a 1-year low of $8.72 and a 1-year high of $30.05.

About Chegg

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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.