Daniel Rosensweig (Insider Trades), CEO, president and chairman of Chegg Inc. (CHGG), bought 48,842 shares of the company on Feb. 25. The average price per share was $4.09, making a total transaction of $199,764. Chegg is a student-first connected learning platform that seeks to make higher education more affordable, more accessible and more successful for students. The company has a market cap of $375.24 million and a P/S ratio of 1.12.
The number of insider buys decreased from 2013 to 2014. There were eight buys totaling 95,800 shares in 2013, and three transactions of 47,504 shares in the following year. There was only one insider transaction, a sale of 3 million shares by 10% owner ACE Ltd.
The number of insider buys increased again in 2016, with two purchases of 78,842 shares in the first two months alone. The absence of insider buys in 2015 correlates to an increase in month-end price, just as a decrease in month-end price correlates to a decrease in month-end price from $6.73 to $5.80 per share from 2015 to 2016. 
Andrew Brown (Insider Trades), CFO of Chegg, also purchased 30,000 shares of the company for an average per share price of $4.16 on Feb. 25. For more information about insider trades with Chegg, click here.
The company reported net revenue of $68.15 million in the fourth quarter of 2015. This is down from net revenues of $84.42 reported by the company in the fourth quarter of 2014. On the other hand, net income increased from $1.69 million, or 2 cents per share, to $3.63, or 4 cents per share, during the same period. Annual revenue follows an increasing trend line while annual net income follows a decreasing trend line. Rosensweig commented that the company “continues to see strong growth in Chegg Services, particularly Chegg Study, where [the company’s] investments in product quality led to record subscribers, renewals and engagement.”
Jim Simons (Trades, Portfolio) increased stake in Chegg during the fourth quarter of 2015. Simons purchased 1,675 shares of the company at an average per share price of $7.17. The total estimated gain of the holding since the fourth quarter of 2014 is -29%. For more information about guru transactions with Chegg, click here.
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