Stride (NYSE:LRN) Director Dylan Haggart Buys 137,500 Shares of Stock

Stride, Inc. (NYSE:LRN) Director Dylan Haggart purchased 137,500 shares of Stride stock in a transaction that occurred on Monday, November 2nd. The shares were bought at an average cost of $77.12 per share, with a total value of $10,604,000.00. Following the completion of the transaction, the director directly owned 2,091,403 shares of the company’s stock, valued at approximately $161,288,999.36. The trade was a 7.04% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Stride Stock Down 0.7%

LRN stock opened at $75.17 on Wednesday. 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 has a 50 day moving average price of $81.08 and a two-hundred day moving average price of $85.81. The company has a market cap of $3.16 billion, a price-to-earnings ratio of 10.37, a P/E/G ratio of 0.42 and a beta of 0.16. Stride, Inc. has a twelve month low of $60.61 and a twelve month high of $103.67.

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 the consensus estimate of $1.07 by $0.30. The firm had revenue of $639.38 million for the quarter, compared to analyst estimates of $612.25 million. Stride had a return on equity of 22.06% and a net margin of 13.18%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.40 EPS. Analysts anticipate that Stride, Inc. will post 9.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LRN. William Blair downgraded shares of Stride from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 30th. Weiss Ratings raised shares of Stride from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, October 16th. Barrington Research cut their target price 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. Zacks Research upgraded Stride from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 28th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $106.25.

Institutional Investors Weigh In On Stride

Hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its holdings in shares of Stride by 108.7% in 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 last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Stride in the second quarter valued at about $46,000. Caitlin John LLC bought a new position in shares of Stride in the second quarter valued at about $49,000. John Boyer Inc. acquired a new stake in shares of Stride during the 3rd quarter worth about $67,000. Finally, Bard Associates Inc. acquired a new stake in shares of Stride during the 2nd quarter worth about $88,000. Institutional investors and hedge funds own 98.24% of the company’s stock.

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.