Stride (NYSE:LRN) Director Brian Shepherd Purchases 10,000 Shares of Stock

Stride, Inc. (NYSE:LRN – Get Free Report) Director Brian Shepherd acquired 10,000 shares of Stride stock in a transaction on Tuesday, November 3rd. The shares were bought at an average cost of $74.95 per share, with a total value of $749,500.00. Following the completion of the purchase, the director owned 23,094 shares in the company, valued at $1,730,895.30. The trade was a 76.37% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.

Stride Stock Up 5.6%

Shares of NYSE:LRN opened at $79.23 on Thursday. Stride, Inc. has a fifty-two week low of $60.61 and a fifty-two week high of $103.67. The company has a quick ratio of 2.53, a current ratio of 2.56 and a debt-to-equity ratio of 0.06. The firm’s 50-day simple moving average is $80.96 and its 200-day simple moving average is $85.86. The company has a market cap of $3.33 billion, a price-to-earnings ratio of 10.93, a PEG ratio of 0.42 and a beta of 0.16.

Stride (NYSE:LRN – Get Free Report) last announced its quarterly earnings data on Tuesday, October 20th. The company reported $1.37 EPS 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 quarter last year, the firm earned $1.40 earnings per share. The firm’s revenue was up 3.0% compared to the same quarter last year. As a group, equities research analysts predict that Stride, Inc. will post 9.04 earnings per share for the current year.

Key Stride News

Here are the key news stories impacting Stride this week:

  • Positive Sentiment: Director Dylan Haggart bought 54,200 shares on Oct. 30, 137,500 on Nov. 2 and 36,357 on Nov. 3, spending about $17.6 million in total at prices ranging from $74.91 to $78.34. Director Brian A. Shepherd also bought 12,000 shares on Nov. 2 and 10,000 on Nov. 3, investing about $1.67 million. The scale and clustering of the purchases may bolster confidence, though insider buying does not guarantee future performance. SEC filing for Haggart transactions SEC filing for Shepherd transactions
  • Neutral Sentiment: The articles also cite Stride’s latest reported quarter, in which EPS of $1.37 and revenue of $639.4 million exceeded analyst estimates. That performance provides favorable context but was reported earlier and is not a new catalyst in these updates.

Analysts Set New Price Targets

A number of research firms have commented on LRN. William Blair downgraded Stride from an “outperform” rating to a “market perform” rating in a report on Thursday, July 30th. Barrington Research lowered their price target on shares of Stride from $125.00 to $115.00 and set an “outperform” rating on the stock in a research note on Friday, October 23rd. Weiss Ratings raised shares of Stride from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, October 16th. Zacks Research upgraded shares of Stride from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 28th. Finally, BMO Capital Markets reduced their price objective on shares of Stride from $93.00 to $90.00 and set a “market perform” rating for the company in a research note on Monday, October 5th. One 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’s stock. According to MarketBeat.com, Stride currently has an average rating of “Moderate Buy” and an average price target of $106.25.

Check Out Our Latest Stock Analysis on Stride

Hedge Funds Weigh In On Stride

Several hedge funds have recently bought and sold shares of LRN. EverSource Wealth Advisors LLC boosted its position in shares of Stride by 108.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 432 shares of the company’s stock worth $38,000 after buying an additional 225 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in Stride during the 2nd quarter valued at about $46,000. Caitlin John LLC purchased a new position in Stride during the 2nd quarter valued at about $49,000. John Boyer Inc. acquired a new position in Stride during the third quarter worth about $67,000. Finally, Bard Associates Inc. acquired a new position in Stride during the second quarter worth about $88,000. 98.24% of the stock is owned by hedge funds and other institutional investors.

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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Insider Buying and Selling by Quarter for Stride (NYSE:LRN)

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