First Trust Advisors LP purchased a new position in shares of K12 Inc (NYSE:LRN) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 80,597 shares of the company’s stock, valued at approximately $1,444,000. First Trust Advisors LP owned about 0.21% of K12 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. 1st Global Advisors Inc. acquired a new position in K12 during the first quarter worth approximately $223,000. UBS Asset Management Americas Inc. acquired a new position in K12 during the first quarter worth approximately $255,000. Citadel Advisors LLC acquired a new position in K12 during the first quarter worth approximately $262,000. Victory Capital Management Inc. acquired a new position in K12 during the first quarter worth approximately $299,000. Finally, Quantitative Investment Management LLC increased its position in K12 by 14.8% during the first quarter. Quantitative Investment Management LLC now owns 17,800 shares of the company’s stock worth $340,000 after purchasing an additional 2,300 shares during the last quarter. 79.51% of the stock is owned by hedge funds and other institutional investors.

In related news, CFO James Jeaho Rhyu sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $18.00, for a total transaction of $180,000.00. Following the completion of the sale, the chief financial officer now directly owns 255,624 shares in the company, valued at $4,601,232. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders have sold 60,000 shares of company stock valued at $1,082,850. 18.34% of the stock is currently owned by corporate insiders.

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Shares of K12 Inc (NYSE LRN) opened at 17.73 on Friday. The firm has a market cap of $685.83 million, a price-to-earnings ratio of 1773.00 and a beta of -0.24. The stock has a 50 day moving average of $17.59 and a 200 day moving average of $18.50. K12 Inc has a 52-week low of $10.17 and a 52-week high of $21.18.

Several equities analysts recently commented on the stock. Zacks Investment Research lowered shares of K12 from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. BidaskClub lowered shares of K12 from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. Finally, TheStreet lowered shares of K12 from a “b-” rating to a “c+” rating in a research report on Thursday, August 17th. One research analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $18.67.

K12 Company Profile

K12 Inc (K12) is a technology-based education company. The Company offers curriculum, software systems and educational services designed to facilitate individualized learning for students in kindergarten through 12th grade (K-12). It provides a continuum of technology-based educational products and solutions to public school districts, public schools, virtual charter schools, private schools and families.

Institutional Ownership by Quarter for K12 (NYSE:LRN)

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