Key Points
- Stride director Dylan Haggart bought 108,273 shares for about $8.1 million at an average price of $74.83, increasing his stake by 5.09% to 2.24 million shares.
- Stride beat quarterly estimates, reporting EPS of $1.37 versus $1.07 expected and revenue of $639.4 million versus $612.3 million expected; revenue grew 3% year over year.
- Analysts’ average rating is Moderate Buy, with an average price target of $106.25. Shares recently opened at $75.85, below their 50- and 200-day moving averages.
Stride, Inc. (NYSE:LRN - Get Free Report) Director Dylan Haggart purchased 108,273 shares of the firm's stock in a transaction that occurred on Thursday, November 5th. The stock was bought at an average cost of $74.83 per share, for a total transaction of $8,102,068.59. Following the purchase, the director owned 2,236,033 shares in the company, valued at $167,322,349.39. This represents a 5.09% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Stride Stock Performance
Shares of NYSE:LRN opened at $75.85 on Tuesday. The business's fifty day moving average price is $80.34 and its two-hundred day moving average price is $85.93. Stride, Inc. has a fifty-two week low of $60.61 and a fifty-two week high of $103.67. The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of 10.46, a price-to-earnings-growth ratio of 0.44 and a beta of 0.16. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.56 and a quick ratio of 2.53.
Stride (NYSE:LRN - Get Free Report) last released its quarterly earnings data on Tuesday, October 20th. The company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.30. The firm had revenue of $639.38 million during 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 revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.40 earnings per share. As a group, analysts predict that Stride, Inc. will post 9.04 EPS for the current fiscal year.
Analyst Ratings Changes
A number of brokerages recently issued reports on LRN. Weiss Ratings upgraded shares of Stride from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, October 16th. Wall Street Zen raised shares of Stride from a "hold" rating to a "buy" rating in a research note on Saturday. William Blair lowered shares of Stride from an "outperform" rating to a "market perform" rating in a report on Thursday, July 30th. 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. Finally, Zacks Research raised Stride from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $106.25.
Check Out Our Latest Report on Stride
Institutional Trading of Stride
Several large investors have recently made changes to their positions in LRN. EverSource Wealth Advisors LLC increased its stake 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 buying an additional 225 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in Stride during the 2nd quarter worth about $46,000. Caitlin John LLC acquired a new position in Stride during the 2nd quarter worth about $49,000. John Boyer Inc. bought a new stake in Stride during the 3rd quarter worth about $67,000. Finally, Bard Associates Inc. bought a new stake in Stride during the 2nd quarter worth about $88,000. Institutional investors own 98.24% of the company's stock.
About Stride
(
Get Free Report)
Stride, Inc is an education technology company that provides online and blended learning programs, curriculum, and related services. Its offerings support students from kindergarten through high school, as well as learners pursuing career-focused education.
The company works with public school districts and other education partners to deliver virtual and hybrid instruction. Its programs include online courses, teacher-led instruction, and career learning pathways designed to help students build skills for further education and employment.
Stride was formerly known as K12 Inc and adopted its current name in 2020.
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