Stride (NYSE:LRN) Director Purchases 95,008 Shares of Stock

Stride, Inc. (NYSE:LRN) Director Dylan Haggart bought 95,008 shares of the business’s stock in a transaction on Monday, October 26th. The stock was bought at an average price of $78.44 per share, with a total value of $7,452,427.52. Following the transaction, the director owned 1,898,911 shares in the company, valued at approximately $148,950,578.84. This represents a 5.27% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Stride Trading Up 0.9%

Shares of NYSE:LRN traded up $0.70 during trading on Tuesday, reaching $79.12. 917,049 shares of the company traded hands. The firm has a fifty day simple moving average of $81.70 and a 200 day simple moving average of $85.60. Stride, Inc. has a 1-year low of $60.61 and a 1-year high of $155.06.

Stride (NYSE:LRN) last posted its quarterly earnings results on Tuesday, October 20th. The company reported $1.37 earnings per share 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 analyst estimates of $612.25 million. During the same period last year, the company posted $1.40 earnings per share. The company’s revenue was up 3.0% compared to the same quarter last year. On average, equities analysts expect that Stride, Inc. will post 8.80 EPS for the current fiscal year.

Institutional Trading of Stride

A number of institutional investors and hedge funds have recently modified their holdings of LRN. Janus Henderson Group PLC lifted its position in Stride by 61.0% in the first quarter. Janus Henderson Group PLC now owns 2,277,279 shares of the company’s stock worth $200,799,000 after purchasing an additional 862,849 shares during the period. Jupiter Topco LLC bought a new stake in Stride in the 2nd quarter valued at $199,715,000. Dimensional Fund Advisors LP increased its holdings in Stride by 5.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,750,646 shares of the company’s stock valued at $154,339,000 after buying an additional 90,851 shares during the period. Principal Financial Group Inc. increased its holdings in Stride by 40.8% in the 1st quarter. Principal Financial Group Inc. now owns 1,034,047 shares of the company’s stock valued at $91,172,000 after buying an additional 299,756 shares during the period. Finally, William Blair Investment Management LLC acquired a new position in shares of Stride in the 2nd quarter valued at $71,036,000. 98.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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