Stride (NYSE:LRN) Director Buys $4,725,569.92 in Stock

Stride, Inc. (NYSE:LRN) Director Dylan Haggart purchased 59,188 shares of the firm’s stock in a transaction that occurred on Friday, October 23rd. The shares were acquired at an average price of $79.84 per share, with a total value of $4,725,569.92. Following the purchase, the director owned 1,803,903 shares in the company, valued at $144,023,615.52. This trade represents a 3.39% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Stride Stock Performance

Shares of LRN opened at $80.53 on Friday. The stock has a market capitalization of $3.39 billion, a P/E ratio of 11.11, a P/E/G ratio of 0.44 and a beta of 0.14. Stride, Inc. has a 1 year low of $60.61 and a 1 year high of $103.67. The company’s fifty day moving average is $81.55 and its two-hundred day moving average is $85.70. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.53 and a current ratio of 2.56.

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 analysts’ consensus estimates of $1.07 by $0.30. Stride had a net margin of 13.18% and a return on equity of 22.06%. The business had revenue of $639.38 million during the quarter, compared to the consensus estimate of $612.25 million. During the same quarter last year, the firm posted $1.40 EPS. The business’s revenue was up 3.0% compared to the same quarter last year. On average, sell-side analysts predict that Stride, Inc. will post 9.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Barrington Research reduced their target price on Stride from $125.00 to $115.00 and set an “outperform” rating for the company in a research note on Friday, October 23rd. Weiss Ratings upgraded shares of Stride from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, October 16th. BMO Capital Markets lowered their price objective on Stride from $93.00 to $90.00 and set a “market perform” rating for the company in a research note on Monday, October 5th. Finally, William Blair lowered shares of Stride from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 30th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Stride currently has an average rating of “Hold” and a consensus target price of $106.25.

Institutional Investors Weigh In On Stride

Institutional investors and hedge funds have recently bought and sold shares of the business. MGO One Seven LLC bought a new position in shares of Stride in the third quarter valued at $225,000. VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in Stride by 2.8% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 29,610 shares of the company’s stock valued at $2,309,000 after buying an additional 800 shares during the period. John Boyer Inc. purchased a new stake in shares of Stride during the third quarter worth $67,000. Signaturefd LLC lifted its holdings in shares of Stride by 157.2% during the 3rd quarter. Signaturefd LLC now owns 1,219 shares of the company’s stock valued at $95,000 after buying an additional 745 shares during the last quarter. Finally, Sterling Capital Management LLC grew its position in Stride by 1,119.3% in the third quarter. Sterling Capital Management LLC now owns 4,609 shares of the company’s stock worth $359,000 after acquiring an additional 4,231 shares in the last quarter. 98.24% of the stock is owned by institutional investors and hedge funds.

About Stride

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.