Stride, Inc. (NYSE:LRN – Get Free Report) Director Dylan Haggart bought 108,273 shares of the business’s stock in a transaction dated Thursday, November 5th. The shares were purchased at an average price of $74.83 per share, for a total transaction of $8,102,068.59. Following the transaction, the director directly owned 2,236,033 shares of the company’s stock, valued at approximately $167,322,349.39. This represents a 5.09% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.
Stride Stock Up 1.5%
Stride stock opened at $76.88 on Wednesday. The company has a market capitalization of $3.23 billion, a P/E ratio of 10.60, a PEG ratio of 0.42 and a beta of 0.16. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.53 and a current ratio of 2.56. Stride, Inc. has a fifty-two week low of $60.61 and a fifty-two week high of $103.67. The stock has a 50-day simple moving average of $80.15 and a 200-day simple moving average of $85.95.
Stride (NYSE:LRN – Get Free Report) last released its quarterly earnings results on Tuesday, October 20th. The company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.30. The firm had revenue of $639.38 million for the quarter, compared to the consensus estimate of $612.25 million. Stride had a return on equity of 22.06% and a net margin of 13.18%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.40 EPS. Equities research analysts expect that Stride, Inc. will post 9.04 earnings per share for the current year.
Analysts Set New Price Targets
A number of brokerages recently weighed in on LRN. Barrington Research decreased their price target 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. Weiss Ratings upgraded shares of Stride from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, October 16th. BMO Capital Markets reduced their target price 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. William Blair downgraded shares of Stride from an “outperform” rating to a “market perform” rating in a report on Thursday, July 30th. Finally, Wall Street Zen raised shares of Stride from a “hold” rating to a “buy” rating in a report on Saturday. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Stride has a consensus rating of “Moderate Buy” and a consensus price target of $106.25.
View Our Latest Research Report on LRN
Institutional Trading of Stride
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jupiter Topco LLC acquired a new position in shares of Stride in the 2nd quarter valued at about $199,715,000. Janus Henderson Group PLC boosted its position in Stride by 61.0% in the 1st quarter. Janus Henderson Group PLC now owns 2,277,279 shares of the company’s stock valued at $200,799,000 after buying an additional 862,849 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Stride by 5.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,750,646 shares of the company’s stock valued at $154,339,000 after purchasing an additional 90,851 shares in the last quarter. Aberdeen Group plc acquired a new stake in Stride in the third quarter valued at $135,610,000. Finally, Principal Financial Group Inc. grew its stake in 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 purchasing an additional 299,756 shares in the last quarter. Hedge funds and other 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, 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.
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