Chegg Inc (CHGG) : Andor Capital Management L.l.c. has sold out all of its stake in Chegg Inc during the most recent quarter, according to the disclosure filed by the company on Jul 5, 2016 with the SEC. The investment management company has sold out 750,000 shares of Chegg Inc which is valued at $3,675,000.
Chegg Inc opened for trading at $5.25 and hit $5.41 on the upside on Monday, eventually ending the session at $5.31, with a gain of 0.38% or 0.02 points. The heightened volatility saw the trading volume jump to 3,58,860 shares. Company has a market cap of $479 M.
On the company’s financial health, Chegg Inc reported $-0.03 EPS for the quarter, based on the information available during the earnings call on May 2, 2016. Analyst had a consensus estimate of $-0.03. The company had revenue of $66.70 million for the quarter, compared to analysts expectations of $62.86 million. The company’s revenue was down -21.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.07 EPS.
Chegg Inc. is a student-first connected learning platform. The Company offer textbooks and from digital offerings. Digital offerings primarily include Student Hub the Company’s connected learning platform its Web-based multiplatform eTextbook Reader eTextbooks and supplemental materials from approximately 120 publishers online tutoring its Chegg Study service College Admissions Scholarship Services and internship services. The Company sources print textbooks eTextbooks and supplemental materials publishers in the United States including Pearson Cengage Learning McGraw Hill Wiley and MacMillan. In addition the Company also offers enrollment marketing services to colleges. The Company also works with brands such as Adobe Dell Microsoft PayPal Proctor & Gamble Red Bull and Shutterfly to provide students with discounts promotions and other products that based on student feedback.