Stride (NYSE:LRN) Director Acquires $8,102,068.59 in Stock

Stride, Inc. (NYSE:LRN) Director Dylan Haggart bought 108,273 shares of the business’s stock in a transaction dated Thursday, November 5th. The stock was acquired at an average cost of $74.83 per share, for a total transaction of $8,102,068.59. Following the purchase, the director owned 2,236,033 shares in the company, valued at approximately $167,322,349.39. This trade represents a 5.09% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Stride Stock Up 1.1%

Shares of NYSE:LRN traded up $0.85 during midday trading on Monday, hitting $75.85. 925,853 shares of the company’s stock traded hands, compared to its average volume of 945,350. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.53 and a current ratio of 2.56. The company has a market cap of $3.19 billion, a PE ratio of 10.46, a P/E/G ratio of 0.41 and a beta of 0.16. The firm’s fifty day moving average price is $80.56 and its two-hundred day moving average price is $85.91. Stride, Inc. has a twelve month low of $60.61 and a twelve month high of $103.67.

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

Analyst Ratings Changes

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

Institutional Investors Weigh In On Stride

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bessemer Group Inc. lifted its holdings in Stride by 1.5% in the 3rd quarter. Bessemer Group Inc. now owns 109,867 shares of the company’s stock worth $8,567,000 after buying an additional 1,644 shares in the last quarter. Royce & Associates LP boosted its position in Stride by 0.3% in the 3rd quarter. Royce & Associates LP now owns 147,739 shares of the company’s stock valued at $11,521,000 after buying an additional 484 shares during the last quarter. Diversified Trust Co purchased a new position in Stride in the 3rd quarter valued at about $1,054,000. Aberdeen Group plc acquired a new stake in shares of Stride during the third quarter valued at about $135,610,000. Finally, Russell Investments Group Ltd. grew its stake in shares of Stride by 6.5% during the third quarter. Russell Investments Group Ltd. now owns 32,950 shares of the company’s stock valued at $2,569,000 after acquiring an additional 1,998 shares in the last quarter. Hedge funds and other institutional investors own 98.24% of the company’s stock.

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.