Key Points
- Director Dylan Haggart purchased 59,188 Stride shares at an average price of $79.84, investing approximately $4.73 million and increasing his direct ownership by 3.39% to 1.8 million shares.
- Stride’s latest quarterly results exceeded expectations, with EPS of $1.37 versus the $1.07 consensus estimate and revenue of $639.38 million, up 3% year over year.
- Institutional investors own 98.24% of Stride’s stock, while Wall Street maintains a consensus “Hold” rating with an average price target of $106.25.
Stride, Inc. (NYSE:LRN - Get Free Report) Director Dylan Haggart bought 59,188 shares of the firm's stock in a transaction that occurred on Friday, October 23rd. The shares were acquired at an average price of $79.84 per share, with a total value of $4,725,569.92. Following the completion of the transaction, the director directly owned 1,803,903 shares of the company's stock, valued at $144,023,615.52. This trade represents a 3.39% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Stride Stock Up 0.9%
Shares of LRN opened at $79.12 on Wednesday. Stride, Inc. has a 52 week low of $60.61 and a 52 week 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. The stock's 50-day moving average price is $81.70 and its 200-day moving average price is $85.60.
Stride (NYSE:LRN - Get Free Report) last released its quarterly earnings data on Tuesday, October 20th. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.07 by $0.30. The company had revenue of $639.38 million during the quarter, compared to analysts' expectations of $612.25 million. During the same quarter in the prior year, the company posted $1.40 EPS. The company's revenue for the quarter was up 3.0% on a year-over-year basis. As a group, equities analysts anticipate that Stride, Inc. will post 8.80 EPS for the current fiscal year.
Institutional Trading of Stride
Several institutional investors have recently bought and sold shares of the business. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Stride in the second quarter valued at approximately $2,485,000. Janus Henderson Group PLC raised its stake in shares of Stride by 61.0% during the 1st 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 during the period. JB Capital Partners LP acquired a new position in shares of Stride during the 2nd quarter worth approximately $3,018,400. Kendall Capital Management purchased a new position in shares of Stride during the 2nd quarter valued at approximately $2,294,000. Finally, Bank of America Corp DE purchased a new position in shares of Stride during the 2nd quarter valued at approximately $49,350,000. 98.24% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts recently commented on the stock. Weiss Ratings upgraded shares of Stride from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, October 16th. Barrington Research decreased their price objective on shares of Stride from $125.00 to $115.00 and set an "outperform" rating for the company in a research report on Friday. William Blair downgraded shares of Stride from an "outperform" rating to a "market perform" rating in a research report on Thursday, July 30th. Finally, BMO Capital Markets lowered their target price on shares of Stride from $93.00 to $90.00 and set a "market perform" rating on the stock in a research note on Monday, October 5th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $106.25.
Read Our Latest Stock Report on Stride
Stride Company Profile
(
Get Free Report)
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.
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