Stride (NYSE:LRN) Director Dylan Haggart Acquires 95,008 Shares of Company 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 shares were acquired at an average price of $78.44 per share, with a total value of $7,452,427.52. Following the transaction, the director directly owned 1,898,911 shares of the company’s stock, valued at approximately $148,950,578.84. This trade represents a 5.27% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Stride Stock Up 0.9%

LRN opened at $79.12 on Wednesday. The firm has a 50-day moving average price of $81.70 and a 200-day moving average price of $85.60. Stride, Inc. has a twelve month low of $60.61 and a twelve month high of $155.06. The company has a market capitalization of $3.33 billion, a price-to-earnings ratio of 10.91 and a beta of 0.14.

Stride (NYSE:LRN) last announced its quarterly earnings results on Tuesday, October 20th. The company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.30. The business had revenue of $639.38 million for the quarter, compared to analysts’ expectations of $612.25 million. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.40 earnings per share. On average, sell-side analysts expect that Stride, Inc. will post 8.80 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

LRN has been the topic of several recent research reports. Weiss Ratings upgraded Stride from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, October 16th. BMO Capital Markets cut 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. Barrington Research reduced their price target on Stride from $125.00 to $115.00 and set an “outperform” rating for the company in a research report on Friday. Finally, William Blair cut Stride from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 30th. Two 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 presently has a consensus rating of “Hold” and a consensus target price of $106.25.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LRN. Jupiter Topco LLC bought a new position in shares of Stride in the second quarter worth $199,715,000. Janus Henderson Group PLC raised its position in shares of 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 buying an additional 862,849 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in shares of Stride in the second quarter worth $71,036,000. Deutsche Bank AG bought a new stake in Stride during the second quarter valued at $63,624,000. Finally, Bank of America Corp DE bought a new stake in Stride during the second quarter valued at $49,350,000. 98.24% of the stock is owned by institutional investors.

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.