Insider Trading Observations at Chegg Inc (NYSE: CHGG)

Chegg Inc (NYSE:CHGG) saw a decline in its share price on Friday, February 21, closing at a price 2.72% lower than the previous day’s close.
The closing price stood at $1.47, with a 52-week price range between a high of $9.14 and a low of $1.30. Over the past month, the stock has decreased by 4.03% in value.
The company is set to release its quarterly earnings report in March, with analysts predicting revenues for the quarter to be around $142.05 million. This forecast marks a 24.44% decrease in sales compared to the same quarter the previous year. The full-year revenue estimate is expected to reach $616.1 million, which is a 13.99% decrease from the current year’s earnings report.
Technical indicators play a vital role in guiding investors on when to enter or exit the market based on stock price movements. Currently, CHGG has short-term, medium-term, and long-term outlooks of a 100% Sell based on technical indicators.
Analysts have rated the stock on a scale of 1.00 to 5.00, with a consensus rating of Hold. 7 analysts rated it as Hold, 2 as Buy, and 6 as Sell. This average rating of Hold reflects the sentiment that may prompt investors to consider adding the stock to their portfolios.
Analyzing more technical aspects, CHGG is trading 3.51% off the short-term SMA20 and 14.58% off the SMA50. The Relative Strength Index (RSI) for this stock is at 43.66 on a 14-day timeframe with weekly volatility at 7.97%.
The average analyst price target for CHGG ranges from $1.5 to $4, with a consensus target of $2.75. Current prices are approximately 4.9% below the low estimate and 179.72% below the high estimate. A target price of $2.75 could result in a 92.31% decrease from the current price.
CHGG has an average trading volume of 3.24 million shares over a three-month period, with 103.97 million outstanding shares. Insiders hold 7.32% of shares while institutions own 78.05%, suggesting a strong interest from investors in the stock.
Despite a 11.18% year-to-date decline in the stock price, CHGG remains a promising option for investors looking for potential growth in the market.