Goldman Sachs Group Inc. raised its position in K12 Inc (NYSE:LRN) by 19.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 323,207 shares of the company’s stock after purchasing an additional 52,969 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.79% of K12 worth $5,792,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Dimensional Fund Advisors LP grew its stake in K12 by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,996,609 shares of the company’s stock valued at $53,700,000 after purchasing an additional 227,364 shares in the last quarter. Vanguard Group Inc. grew its stake in K12 by 1.8% in the second quarter. Vanguard Group Inc. now owns 2,787,709 shares of the company’s stock valued at $49,955,000 after purchasing an additional 50,164 shares in the last quarter. Numeric Investors LLC grew its stake in K12 by 18.4% in the second quarter. Numeric Investors LLC now owns 1,207,595 shares of the company’s stock valued at $21,640,000 after purchasing an additional 187,800 shares in the last quarter. Palisade Capital Management LLC NJ grew its stake in K12 by 2.5% in the second quarter. Palisade Capital Management LLC NJ now owns 1,108,527 shares of the company’s stock valued at $19,865,000 after purchasing an additional 26,700 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in K12 by 12.4% in the second quarter. JPMorgan Chase & Co. now owns 939,687 shares of the company’s stock valued at $16,839,000 after purchasing an additional 103,927 shares in the last quarter. Hedge funds and other institutional investors own 79.51% of the company’s stock.
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Shares of K12 Inc (NYSE LRN) opened at 18.04 on Monday. The firm has a 50 day moving average price of $17.67 and a 200-day moving average price of $18.37. The firm has a market cap of $697.82 million, a PE ratio of 1804.00 and a beta of -0.23. K12 Inc has a 12 month low of $10.17 and a 12 month high of $21.18.
In other news, CFO James Jeaho Rhyu sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $18.04, for a total value of $90,200.00. Following the completion of the transaction, the chief financial officer now owns 250,624 shares in the company, valued at approximately $4,521,256.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 70,000 shares of company stock valued at $1,260,850 in the last 90 days. 18.34% of the stock is owned by corporate insiders.
A number of research analysts have commented on the company. Zacks Investment Research downgraded K12 from a “buy” rating to a “hold” rating in a research note on Thursday, July 20th. BidaskClub cut K12 from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. Finally, TheStreet cut K12 from a “b-” rating to a “c+” rating in a research report on Thursday, August 17th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $18.67.
K12 Inc (K12) is a technology-based education company. The Company offers curriculum, software systems and educational services designed to facilitate individualized learning for students in kindergarten through 12th grade (K-12). It provides a continuum of technology-based educational products and solutions to public school districts, public schools, virtual charter schools, private schools and families.
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