Stride (NYSE:LRN) Director Buys $7,452,427.52 in Stock

Stride, Inc. (NYSE:LRN) Director Dylan Haggart purchased 95,008 shares of the firm’s stock in a transaction that occurred on Monday, October 26th. The stock was purchased at an average price of $78.44 per share, with a total value of $7,452,427.52. Following the completion of the purchase, the director directly owned 1,898,911 shares of the company’s stock, valued at approximately $148,950,578.84. This represents a 5.27% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Stride Stock Up 0.9%

Stride stock traded up $0.70 during midday trading on Tuesday, hitting $79.12. The stock had a trading volume of 917,049 shares. The business has a fifty day moving average price of $81.70 and a 200 day moving average price of $85.60. Stride, Inc. has a 12 month low of $60.61 and a 12 month high of $155.06.

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 the consensus estimate of $612.25 million. During the same period in the prior year, the business earned $1.40 EPS. The company’s quarterly revenue was up 3.0% on a year-over-year basis. On average, sell-side analysts forecast that Stride, Inc. will post 8.80 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on LRN shares. Weiss Ratings upgraded shares of Stride from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, October 16th. Barrington Research lowered their price objective on shares of Stride from $125.00 to $115.00 and set an “outperform” rating for the company in a research report on Friday. BMO Capital Markets dropped their price objective on shares of Stride from $93.00 to $90.00 and set a “market perform” rating on the stock in a research note on Monday, October 5th. Finally, William Blair cut shares of Stride from an “outperform” rating to a “market perform” rating in a report on Thursday, July 30th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Stride has a consensus rating of “Hold” and an average target price of $106.25.

Institutional Trading of Stride

Several hedge funds and other institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC grew its stake in Stride by 108.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 432 shares of the company’s stock valued at $38,000 after acquiring an additional 225 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Stride in the 2nd quarter valued at about $46,000. Caitlin John LLC acquired a new position in shares of Stride in the 2nd quarter valued at about $49,000. John Boyer Inc. purchased a new stake in shares of Stride in the third quarter worth approximately $67,000. Finally, Bard Associates Inc. purchased a new stake in shares of Stride in the second quarter worth approximately $88,000. Institutional investors and hedge funds own 98.24% of the company’s stock.

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.