Stride (NYSE:LRN) Director Dylan Haggart Acquires 54,200 Shares of Company Stock

Stride, Inc. (NYSE:LRN) Director Dylan Haggart purchased 54,200 shares of the business’s stock in a transaction on Friday, October 30th. The shares were bought at an average cost of $78.34 per share, for a total transaction of $4,246,028.00. Following the purchase, the director owned 1,953,903 shares of the company’s stock, valued at $153,068,761.02. This trade represents a 2.85% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Stride Stock Down 0.7%

Shares of LRN opened at $75.17 on Wednesday. The firm has a market cap of $3.16 billion, a PE ratio of 10.37, a price-to-earnings-growth ratio of 0.42 and a beta of 0.16. The company’s fifty day moving average is $81.08 and its two-hundred day moving average is $85.81. Stride, Inc. has a fifty-two week low of $60.61 and a fifty-two week high of $103.67. 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 announced its quarterly earnings data on Tuesday, October 20th. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.30. The company had revenue of $639.38 million during the quarter, compared to analysts’ expectations of $612.25 million. Stride had a net margin of 13.18% and a return on equity of 22.06%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.40 EPS. Analysts forecast that Stride, Inc. will post 9.04 earnings per share for the current year.

Institutional Trading of Stride

Several large investors have recently added to or reduced their stakes in LRN. GAMMA Investing LLC boosted its holdings in Stride by 2.8% in the 2nd quarter. GAMMA Investing LLC now owns 4,716 shares of the company’s stock worth $407,000 after acquiring an additional 128 shares during the period. BDFS Capital LLC grew its position in Stride by 1.4% in the second quarter. BDFS Capital LLC now owns 12,436 shares of the company’s stock valued at $1,072,000 after acquiring an additional 176 shares in the last quarter. Cim LLC raised its stake in shares of Stride by 4.0% during the first quarter. Cim LLC now owns 4,706 shares of the company’s stock valued at $415,000 after purchasing an additional 179 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Stride by 108.7% during the first quarter. EverSource Wealth Advisors LLC now owns 432 shares of the company’s stock valued at $38,000 after purchasing an additional 225 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in shares of Stride by 14.5% during the third quarter. Farther Finance Advisors LLC now owns 2,533 shares of the company’s stock valued at $198,000 after purchasing an additional 321 shares during the period. 98.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LRN has been the subject of a number of research reports. BMO Capital Markets lowered their price target 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. Weiss Ratings upgraded Stride from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, October 16th. Zacks Research upgraded Stride from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 28th. William Blair downgraded Stride from an “outperform” rating to a “market perform” rating in a report on Thursday, July 30th. Finally, Barrington Research reduced their price objective on Stride from $125.00 to $115.00 and set an “outperform” rating on the stock in a research note on Friday, October 23rd. One investment 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.25.

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.