JPMorgan Chase & Co. increased its position in K12 Inc. (NYSE:LRN) by 56.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,088,027 shares of the company’s stock after acquiring an additional 390,417 shares during the period. JPMorgan Chase & Co. owned approximately 2.71% of K12 worth $19,257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. grew its position in K12 by 2.5% during the 3rd quarter. BlackRock Inc. now owns 2,688,859 shares of the company’s stock worth $47,594,000 after purchasing an additional 66,024 shares during the period. Acadian Asset Management LLC boosted its holdings in K12 by 15.6% in the 3rd quarter. Acadian Asset Management LLC now owns 1,299,184 shares of the company’s stock worth $22,995,000 after buying an additional 175,751 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in K12 in the 3rd quarter worth about $9,205,000. Bank of New York Mellon Corp boosted its holdings in K12 by 130.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 405,095 shares of the company’s stock worth $7,171,000 after buying an additional 229,295 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in K12 by 24.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 304,620 shares of the company’s stock worth $5,392,000 after buying an additional 59,027 shares during the last quarter. Institutional investors own 80.89% of the company’s stock.

LRN has been the topic of several research analyst reports. ValuEngine upgraded K12 from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Zacks Investment Research raised shares of K12 from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Wednesday, January 9th. Sidoti began coverage on shares of K12 in a research note on Wednesday, January 2nd. They issued a “neutral” rating and a $29.00 target price on the stock. Barrington Research reissued an “outperform” rating and issued a $30.00 target price (up from $25.00) on shares of K12 in a research note on Wednesday, January 23rd. Finally, BMO Capital Markets raised their target price on shares of K12 from $19.00 to $21.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 24th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $28.25.

In related news, CEO Nathaniel A. Davis sold 4,300 shares of the business’s stock in a transaction on Tuesday, January 22nd. The shares were sold at an average price of $26.00, for a total value of $111,800.00. Following the completion of the sale, the chief executive officer now directly owns 214,778 shares of the company’s stock, valued at $5,584,228. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Nathaniel A. Davis sold 100,000 shares of the business’s stock in a transaction on Friday, January 25th. The shares were sold at an average price of $29.06, for a total transaction of $2,906,000.00. Following the completion of the sale, the chairman now directly owns 214,778 shares of the company’s stock, valued at $6,241,448.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 204,300 shares of company stock valued at $5,422,800. 7.00% of the stock is owned by corporate insiders.

NYSE:LRN opened at $31.18 on Monday. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 45.85, a price-to-earnings-growth ratio of 2.65 and a beta of 0.16. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.50 and a quick ratio of 3.38. K12 Inc. has a 52 week low of $12.72 and a 52 week high of $32.38.

K12 (NYSE:LRN) last posted its quarterly earnings results on Tuesday, January 22nd. The company reported $0.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.03. The business had revenue of $254.90 million during the quarter, compared to the consensus estimate of $250.80 million. K12 had a net margin of 3.87% and a return on equity of 6.40%. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.33 earnings per share. On average, sell-side analysts anticipate that K12 Inc. will post 0.79 earnings per share for the current fiscal year.

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About K12

K12 Inc, a technology-based education company, together with its subsidiaries, provides online curriculum, software systems, and educational services to facilitate individualized learning for students primarily in kindergarten through 12th grade in the United States and internationally. The company also offers curriculum and technology solutions for full-time virtual and blended programs; full-time virtual programs, semester courses, and supplemental educational products; teacher training, teaching, and other academic and technology support services to public schools, school districts, private schools, charter schools, early childhood learning centers, and corporate partners.

Read More: Intrinsic Value

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Institutional Ownership by Quarter for K12 (NYSE:LRN)

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