Insider Buying: Stride (NYSE:LRN) Director Purchases $7,452,427.52 in Stock

Stride, Inc. (NYSE:LRN) Director Dylan Haggart bought 95,008 shares of the stock in a transaction on Monday, October 26th. The shares were acquired at an average price of $78.44 per share, with a total value of $7,452,427.52. Following the purchase, the director owned 1,898,911 shares of the company’s stock, valued at $148,950,578.84. The trade was a 5.27% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Stride Price Performance

Shares of NYSE:LRN opened at $80.53 on Friday. The company has a market cap of $3.39 billion, a PE ratio of 11.11, a P/E/G ratio of 0.44 and a beta of 0.14. Stride, Inc. has a fifty-two week low of $60.61 and a fifty-two week high of $103.67. The firm has a 50-day simple moving average of $81.55 and a 200 day simple moving average of $85.70. The company has a quick ratio of 2.53, a current ratio of 2.56 and a debt-to-equity ratio of 0.06.

Stride (NYSE:LRN) last issued its earnings results on Tuesday, October 20th. The company reported $1.37 EPS for the quarter, beating 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 return on equity of 22.06% and a net margin of 13.18%. Stride’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.40 earnings per share. On average, sell-side analysts anticipate that Stride, Inc. will post 9.04 EPS for the current year.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Stride

Several institutional investors and hedge funds have recently added to or reduced their stakes in LRN. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Stride during the 2nd quarter worth about $2,485,000. Janus Henderson Group PLC increased its holdings in shares of Stride by 61.0% in the 1st 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 period. JB Capital Partners LP acquired a new position in shares of Stride in the 2nd quarter valued at about $3,018,400. Kendall Capital Management acquired a new position in shares of Stride in the 2nd quarter valued at about $2,294,000. Finally, Bank of America Corp DE purchased a new stake in shares of Stride in the second quarter worth approximately $49,350,000. 98.24% of the stock is currently owned by hedge funds and other institutional investors.

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.