Insider Buying: Stride (NYSE:LRN) Director Buys 137,500 Shares of Stock

Stride, Inc. (NYSE:LRN) Director Dylan Haggart purchased 137,500 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The shares were bought at an average cost of $77.12 per share, with a total value of $10,604,000.00. Following the completion of the acquisition, the director owned 2,091,403 shares of the company’s stock, valued at approximately $161,288,999.36. This trade represents a 7.04% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Stride Stock Performance

LRN traded down $0.54 during trading on Tuesday, hitting $75.17. The stock had a trading volume of 1,307,764 shares, compared to its average volume of 943,955. 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 firm has a market capitalization of $3.16 billion, a P/E ratio of 10.37, a PEG ratio of 0.42 and a beta of 0.16. The company’s 50-day moving average price is $81.08 and its 200 day moving average price is $85.81. 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 data on Tuesday, October 20th. The company reported $1.37 EPS 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 the consensus estimate of $612.25 million. Stride had a net margin of 13.18% and a return on equity of 22.06%. Stride’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.40 EPS. On average, equities research analysts forecast that Stride, Inc. will post 9.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LRN. William Blair downgraded Stride from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 30th. Barrington Research decreased their price target 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 decreased their price target on Stride from $93.00 to $90.00 and set a “market perform” rating on the stock in a research note on Monday, October 5th. Zacks Research raised Stride from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 28th. Finally, Weiss Ratings upgraded Stride from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, October 16th. 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, the company has a consensus rating of “Moderate Buy” and an average target price of $106.25.

Institutional Investors Weigh In On Stride

A number of hedge funds and other institutional investors have recently modified their holdings of LRN. Jupiter Topco LLC acquired a new position in Stride during the second quarter worth $199,715,000. Janus Henderson Group PLC grew its holdings in Stride by 61.0% in the first quarter. Janus Henderson Group PLC now owns 2,277,279 shares of the company’s stock valued at $200,799,000 after purchasing an additional 862,849 shares during the last quarter. William Blair Investment Management LLC purchased a new position in shares of Stride in the second quarter valued at $71,036,000. Deutsche Bank AG purchased a new position in shares of Stride in the second quarter valued at $63,624,000. Finally, Bank of America Corp DE acquired a new position in shares of Stride during the 2nd quarter worth $49,350,000. 98.24% of the stock is currently owned by institutional investors and hedge funds.

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.