Significant Insider Sales Reported in Shares of Chegg (CHGG) Extending the Trend of Last Quarter

Wednesday, February 14, 2018 10:15 PM ET

Significant Insider Sales Reported in Shares of Chegg (CHGG) Extending the Trend of Last Quarter

There was a substantial level of insider selling reported today in filings with the SEC for Chegg. Two insiders — Daniel Rosensweig, Director and Officer, and Esther Lem, Officer — disposed of 210,000 shares in the company for approximately $3,775,000. There have been 5 insiders with buy/sell transactions in the past 90 days prior to these filings. All of these trades have been sales resulting in the disposition of 401,891 company shares. Adding the most recent activity to this 90-day history indicates insider trades have seen net sales of 611,891 shares and have averaged 87,413 shares per transaction over this time period.

In relation to the peer group over the last 90 days, insider buy/sell trading at Chegg is higher than the 7-company peer group average. Education & Training Information Providers peer group saw 11 buy/sell trades during this period for an average of 1.6 transactions per company. The number of shares per buy/sell trade for Chegg insiders was also higher. Within the peer group there were 0 shares purchased and 401,891 shares sold with company insiders disposing of 36,536 shares on average.

For the purpose of evaluating significant insider buying and selling all trades reported to the SEC that involve awards, options, exercise of derivative securities, company buy-backs, taxes, gifts, shares acquired via inheritance and tenders or exchange offers have been eliminated in data sourced to create and write this story.

Today’s Insider Activity
* Daniel Rosensweig, Director and Officer, sold 200,000 shares
* Esther Lem, Officer, sold 10,000 shares

Using proprietary Natural Language Generation (NLG) technology, UpTick evaluates corporate insider filings reported to the SEC and creates real-time news and analysis to report the most significant insider transactions based on transaction type, size and historical trends.

For more information, contact UpTick at info@uptickdata.com. Copyright 2018 UpTick Data Technologies. All rights reserved.

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