Marne Levine Purchases Shares of Chegg, Inc. (NYSE:CHGG)

Marne Levine, an insider at Chegg, Inc. (NYSE:CHGG), purchased 119,784 shares of the company on June 16, 2026. This transaction did not involve a planned purchase under a Rule 10b5-1 trading plan. The purchase was executed at a price of $0.00 per share, reflecting the allocation of shares rather than a market purchase.

Insider Buying and Selling at Chegg, Inc.

Several insiders, including Marne Levine, acquired shares of Chegg, Inc. on June 16, 2026. Each purchased 119,784 shares. Daniel Rosensweig, President, CEO, and Executive Chairman, sold 8,293 shares on June 12, 2026, at an average price of $1.11 per share.

Other Institutional Activity in Chegg, Inc.

Vanguard Capital Management LLC opened a new position in Chegg, Inc., acquiring 4,528,039 shares valued at about $3.36 million. Acadian Asset Management LLC slightly reduced its holdings by 38,495 shares, leaving it with 4,383,737 shares valued at approximately $3.25 million, a 0.9% decrease. Charles Schwab Investment Management Inc. cut its stake by 687,637 shares, ending with 4,157,167 shares worth $3.08 million, representing a 14.2% decrease. Renaissance Technologies LLC increased its position by 10,820 shares to 3,346,800 shares, valued at $2.48 million, a modest 0.3% increase.

Chegg, Inc. Stock Up 24.4%

Shares of NYSE:CHGG traded near $1.05 on Monday. Chegg, Inc. has a market cap of $117.6 million and a forward P/E ratio of -6.48, indicating it is not currently profitable. The stock has a 52-week low of $0.45 and a high of $1.90, with a 50-day moving average of $1.13 and a 200-day moving average of $1.02. The company's beta is 2.159, suggesting higher volatility compared to the market. Chegg has a current ratio of 1.036 and a quick ratio of 0.783, with a debt-to-equity ratio of 42.734.

Recent Earnings

Chegg, Inc. reported revenue of $318.8 million, with a revenue growth rate of -47.9%. The company posted a net margin of -26.9% and a return on equity of -55.9%. Its earnings per share (EPS) was -$0.79. The next earnings report is expected on August 3, 2026.

Analysts Set New Price Targets

Piper Sandler maintained a "sell" rating on Chegg with a price target of $1.00 on February 25, 2025. Morgan Stanley downgraded the stock to "sell" with a target of $1.25 on January 14, 2025. Craig-Hallum and Goldman Sachs both maintained "hold" ratings with targets of $1.50 and $1.75, respectively, on November 14, 2024. The consensus among six analysts is a "hold" recommendation, with an average price target of $2.79.

About Chegg, Inc.

Chegg, Inc. is a learning platform based in Santa Clara, California. The company offers a range of educational services, including Chegg Study, Chegg Writing, and Chegg Math, which provide personalized learning support. Chegg also offers a skills-based learning platform for technical skills such as AI and coding. Additionally, it rents and sells textbooks and provides advertising services. Chegg is led by CEO Daniel Lee Rosensweig and employs 564 people.

Bottom Line

Marne Levine's recent purchase of Chegg shares highlights ongoing insider interest in the company. Chegg faces challenges with its current financial performance, as reflected in its negative earnings and revenue decline. However, institutional investors like Vanguard Capital Management LLC are initiating new positions, suggesting varied perspectives on the company's potential. As always, keep in mind that insider and institutional moves provide insights into market sentiment, but 13F filings and insider reports are backward-looking and may not reflect current positions.