Stride (NYSE:LRN) Director Dylan Haggart Purchases 108,273 Shares of Stock

Stride, Inc. (NYSE:LRN) Director Dylan Haggart purchased 108,273 shares of the business’s stock in a transaction dated Thursday, November 5th. The shares were purchased at an average cost of $74.83 per share, with a total value of $8,102,068.59. Following the purchase, the director directly owned 2,236,033 shares in the company, valued at approximately $167,322,349.39. The trade was a 5.09% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Stride Price Performance

Shares of Stride stock traded up $0.85 on Monday, hitting $75.85. The company’s stock had a trading volume of 925,853 shares, compared to its average volume of 945,350. The company has a market capitalization of $3.19 billion, a P/E ratio of 10.46, a price-to-earnings-growth ratio of 0.41 and a beta of 0.16. Stride, Inc. has a 52-week low of $60.61 and a 52-week high of $103.67. The firm has a fifty day moving average price of $80.56 and a 200-day moving average price of $85.91. The company has a quick ratio of 2.53, a current ratio of 2.56 and a debt-to-equity ratio of 0.06.

Stride (NYSE:LRN) last posted its earnings results on Tuesday, October 20th. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.30. The firm had revenue of $639.38 million during the quarter, compared to the consensus estimate of $612.25 million. Stride had a net margin of 13.18% and a return on equity of 22.06%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the firm posted $1.40 EPS. On average, equities research analysts expect that Stride, Inc. will post 9.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LRN. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Stride during the second quarter worth about $2,485,000. Janus Henderson Group PLC raised its holdings in shares of Stride by 61.0% in the 1st quarter. Janus Henderson Group PLC now owns 2,277,279 shares of the company’s stock worth $200,799,000 after purchasing an additional 862,849 shares during the period. JB Capital Partners LP acquired a new position in shares of Stride in the 2nd quarter valued at about $3,018,400. Kendall Capital Management acquired a new position in shares of Stride in the 2nd quarter valued at about $2,294,000. Finally, Bank of America Corp DE acquired a new position in shares of Stride in the 2nd quarter valued at about $49,350,000. 98.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LRN has been the subject of several research reports. Barrington Research cut their price objective on Stride from $125.00 to $115.00 and set an “outperform” rating for the company in a research report on Friday, October 23rd. BMO Capital Markets reduced their target price on Stride from $93.00 to $90.00 and set a “market perform” rating on the stock in a research note on Monday, October 5th. Wall Street Zen upgraded Stride from a “hold” rating to a “buy” rating in a report on Saturday. Zacks Research raised Stride from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 28th. Finally, Weiss Ratings raised Stride from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, October 16th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $106.25.

Stride Company Profile

Stride, Inc is an education technology company that provides online and blended learning programs, curriculum, and related services. Its offerings support students from kindergarten through high school, as well as learners pursuing career-focused education.

The company works with public school districts and other education partners to deliver virtual and hybrid instruction. Its programs include online courses, teacher-led instruction, and career learning pathways designed to help students build skills for further education and employment.

Stride was formerly known as K12 Inc and adopted its current name in 2020.