Stride (NYSE:LRN) Stock: Insider Dylan Haggart Acquires 54,200 Shares

Stride, Inc. (NYSE:LRN) Director Dylan Haggart acquired 54,200 shares of the firm’s stock in a transaction that occurred on Friday, October 30th. The shares were bought at an average price of $78.34 per share, with a total value of $4,246,028.00. Following the acquisition, the director directly owned 1,953,903 shares of the company’s stock, valued at $153,068,761.02. The trade was a 2.85% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Stride Stock Performance

LRN stock traded down $0.54 during mid-day trading on Tuesday, hitting $75.17. The company had a trading volume of 1,307,764 shares, compared to its average volume of 943,955. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.53 and a current ratio of 2.56. 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. Stride, Inc. has a 12 month low of $60.61 and a 12 month high of $103.67. The stock’s fifty day moving average price is $81.08 and its two-hundred day moving average price is $85.81.

Stride (NYSE:LRN) last released its earnings results on Tuesday, October 20th. The company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.30. Stride had a net margin of 13.18% and a return on equity of 22.06%. The firm had revenue of $639.38 million during the quarter, compared to the consensus estimate of $612.25 million. During the same period in the prior year, the firm earned $1.40 EPS. The company’s revenue was up 3.0% compared to the same quarter last year. On average, analysts forecast that Stride, Inc. will post 9.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on LRN. William Blair downgraded Stride from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 30th. Zacks Research raised Stride from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 28th. BMO Capital Markets lowered their target price on Stride from $93.00 to $90.00 and set a “market perform” rating on the stock in a research note on Monday, October 5th. Barrington Research dropped their price target on Stride from $125.00 to $115.00 and set an “outperform” rating on the stock in a research report on Friday, October 23rd. Finally, Weiss Ratings upgraded Stride from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $106.25.

Institutional Trading of Stride

Several hedge funds and other institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC raised its holdings in Stride by 61.0% during the 1st quarter. Janus Henderson Group PLC now owns 2,277,279 shares of the company’s stock valued at $200,799,000 after acquiring an additional 862,849 shares during the period. Jupiter Topco LLC bought a new position in shares of Stride in the second quarter worth $199,715,000. Dimensional Fund Advisors LP boosted its holdings in shares of Stride by 5.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,750,646 shares of the company’s stock worth $154,339,000 after acquiring an additional 90,851 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Stride by 40.8% in the first quarter. Principal Financial Group Inc. now owns 1,034,047 shares of the company’s stock worth $91,172,000 after acquiring an additional 299,756 shares during the period. Finally, William Blair Investment Management LLC purchased a new position in shares of Stride in the second quarter valued at $71,036,000. Institutional investors own 98.24% of the company’s stock.

About Stride

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.