Stride (NYSE:LRN) Director Dylan Haggart Purchases 792 Shares of Stock

Stride, Inc. (NYSE:LRN) Director Dylan Haggart purchased 792 shares of the stock in a transaction that occurred on Tuesday, October 27th. The shares were acquired at an average cost of $78.52 per share, with a total value of $62,187.84. Following the completion of the transaction, the director owned 1,899,703 shares in the company, valued at $149,164,679.56. This trade represents a 0.04% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Stride Stock Performance

Shares of LRN opened at $80.53 on Friday. The company has a quick ratio of 2.53, a current ratio of 2.56 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average price is $81.55 and its 200-day moving average price is $85.70. Stride, Inc. has a 52 week low of $60.61 and a 52 week high of $103.67. The stock has a market cap 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 (NYSE:LRN) last released its earnings results on Tuesday, October 20th. The company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.30. The firm had revenue of $639.38 million for the quarter, compared to analysts’ expectations of $612.25 million. Stride had a return on equity of 22.06% and a net margin of 13.18%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.40 earnings per share. Equities research analysts anticipate that Stride, Inc. will post 9.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LRN. BMO Capital Markets decreased their target price on Stride from $93.00 to $90.00 and set a “market perform” rating for the company in a research report on Monday, October 5th. William Blair downgraded shares of Stride from an “outperform” rating to a “market perform” rating in a report on Thursday, July 30th. Weiss Ratings upgraded shares of Stride from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, October 16th. Finally, Barrington Research reduced their price target on shares of Stride from $125.00 to $115.00 and set an “outperform” rating for the company in a research note on Friday, October 23rd. Two investment 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 company presently has an average rating of “Hold” and a consensus target price of $106.25.

Hedge Funds Weigh In On Stride

Institutional investors and hedge funds have recently modified their holdings of the company. Janus Henderson Group PLC increased its holdings in Stride by 61.0% during the first quarter. Janus Henderson Group PLC now owns 2,277,279 shares of the company’s stock valued at $200,799,000 after buying an additional 862,849 shares during the last quarter. Jupiter Topco LLC bought a new position in Stride in the second quarter worth approximately $199,715,000. Dimensional Fund Advisors LP raised its position in Stride by 5.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,750,646 shares of the company’s stock worth $154,339,000 after acquiring an additional 90,851 shares during the period. Principal Financial Group Inc. raised its position in Stride by 40.8% in the first quarter. Principal Financial Group Inc. now owns 1,034,047 shares of the company’s stock worth $91,172,000 after acquiring an additional 299,756 shares during the period. Finally, William Blair Investment Management LLC purchased a new position in shares of Stride during the 2nd quarter worth $71,036,000. 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.