Insider Buying: Stride (NYSE:LRN) Director Buys $10,604,000.00 in Stock

Stride, Inc. (NYSE:LRN) Director Dylan Haggart purchased 137,500 shares of the business’s stock in a transaction on Monday, November 2nd. The stock was purchased at an average cost of $77.12 per share, for a total transaction of $10,604,000.00. Following the acquisition, the director owned 2,091,403 shares in the company, valued at approximately $161,288,999.36. The trade was a 7.04% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Stride Price Performance

LRN stock opened at $74.99 on Friday. The stock has a market capitalization of $3.15 billion, a price-to-earnings ratio of 10.34, a PEG ratio of 0.44 and a beta of 0.16. The firm’s 50-day moving average price is $80.76 and its two-hundred day moving average price is $85.88. The company has a current ratio of 2.56, a quick ratio of 2.53 and a debt-to-equity ratio of 0.06. Stride, Inc. has a 12-month low of $60.61 and a 12-month high of $103.67.

Stride (NYSE:LRN) last posted its earnings results on Tuesday, October 20th. The company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.30. The company had revenue of $639.38 million during the quarter, compared to analyst estimates of $612.25 million. Stride had a net margin of 13.18% and a return on equity of 22.06%. Stride’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.40 earnings per share. As a group, equities analysts predict that Stride, Inc. will post 9.04 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Barrington Research reduced their target price on Stride from $125.00 to $115.00 and set an “outperform” rating on the stock in a research note on Friday, October 23rd. BMO Capital Markets cut their price target on shares of Stride from $93.00 to $90.00 and set a “market perform” rating on the stock in a report on Monday, October 5th. Zacks Research raised shares of Stride from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 28th. Weiss Ratings upgraded shares of Stride from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, October 16th. Finally, William Blair cut shares of Stride from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Stride has a consensus rating of “Moderate Buy” and a consensus target price of $106.25.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in Stride by 2.8% in the second quarter. GAMMA Investing LLC now owns 4,716 shares of the company’s stock worth $407,000 after acquiring an additional 128 shares in the last quarter. BDFS Capital LLC increased its holdings in shares of Stride by 1.4% during the second quarter. BDFS Capital LLC now owns 12,436 shares of the company’s stock valued at $1,072,000 after acquiring an additional 176 shares in the last quarter. Cim LLC increased its holdings in shares of Stride by 4.0% during the first quarter. Cim LLC now owns 4,706 shares of the company’s stock valued at $415,000 after acquiring an additional 179 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Stride by 108.7% during the first quarter. EverSource Wealth Advisors LLC now owns 432 shares of the company’s stock valued at $38,000 after acquiring an additional 225 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its position in shares of Stride by 14.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,533 shares of the company’s stock worth $198,000 after purchasing an additional 321 shares during 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 for K-12 students. The company partners with public school districts, charter schools and other education organizations to deliver digital curricula, instructional software, teaching support and student services. Its offerings are designed to support full-time virtual schools, supplemental courses and traditional schools incorporating online learning.

Stride also provides career-focused education through programs that combine academic instruction with career exploration, technical training and industry-aligned learning opportunities.