Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Chegg Inc shares valued at $14,054 were sold by Schultz Nathan J. on Dec 13 ’23. At $10.41 per share, Schultz Nathan J. sold 1,350 shares. The insider’s holdings dropped to 421,025 shares worth approximately $2.96 million following the completion of this transaction.
Also, Schultz Nathan J. sold 630 shares, netting a total of over 6,382 in proceeds. Following the sale of shares at $10.13 each, the insider now holds 426,802 shares.
Before that, BROWN ANDREW J had sold 16,921 shares from its account. In a trade valued at $169,548, the CHIEF FINANCIAL OFFICER traded Chegg Inc shares for $10.02 each. Upon closing the transaction, the insider’s holdings decreased to 16,921 shares, worth approximately $0.65 million.
Analysts at Piper Sandler downgraded the stock from ‘”a Neutral”‘ to ‘”an Underweight”‘ outlook in a report released in early February. As of January 19, 2024, Goldman has decreased its “Neutral” rating to a “Sell” for CHGG. Earlier on November 20, 2023, Morgan Stanley downgraded its rating. Their new recommendation was “an Underweight” for CHGG stock which previously was a “an Equal-weight”.
Analyzing CHGG Stock Performance
During the last five days, there has been a drop of approximately -5.64%. Over the course of the year, Chegg Inc shares have dropped approximately -38.12%. Shares of the company reached a 52-week high of $11.47 on 01/02/24 and a 52-week low of $6.63 on 04/16/24. A 50-day SMA is recorded $8.03, while a 200-day SMA reached $9.31. Nevertheless, trading volume fell to 2.08 million shares from 1.98 million shares the previous day.
Support And Resistance Levels for Chegg Inc (CHGG)
According to the 24-hour chart, there is a support level at 6.90, which, if violated, would cause prices to drop to 6.77. In the upper region, resistance lies at 7.18. The next price resistance is at 7.33. RSI (Relative Strength Index) is 38.23 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.25, which suggests the price will decrease in the coming days. Percent R is at 64.29%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
