Insider Buying: Stride (NYSE:LRN) Director Purchases $2,723,502.87 in Stock

Key Points

• Stride director Dylan Haggart bought 36,357 shares for about $2.72 million at an average price of $74.91, increasing his stake by 1.74% to 2,127,760 shares.
• Stride reported quarterly EPS of $1.37, beating the $1.07 consensus estimate, while revenue of $639.38 million also topped expectations and rose 3% year over year.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $106.25; recent firms issued a mix of upgrades and target cuts.

Stride, Inc. (NYSE:LRN - Get Free Report) Director Dylan Haggart purchased 36,357 shares of the company's stock in a transaction on Tuesday, November 3rd. The shares were purchased at an average price of $74.91 per share, for a total transaction of $2,723,502.87. Following the purchase, the director owned 2,127,760 shares in the company, valued at approximately $159,390,501.60. The trade was a 1.74% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Stride Stock Performance

Shares of LRN stock traded down $0.54 during mid-day trading on Tuesday, reaching $75.17. The stock had a trading volume of 1,307,764 shares, compared to its average volume of 943,955. The business's fifty day moving average is $81.08 and its 200-day moving average is $85.81. The company has a current ratio of 2.56, a quick ratio of 2.53 and a debt-to-equity ratio of 0.06. The firm has a market cap of $3.16 billion, a price-to-earnings ratio of 10.37, a PEG ratio of 0.42 and a beta of 0.16. Stride, Inc. has a 1-year low of $60.61 and a 1-year high of $103.67.

Stride (NYSE:LRN - Get Free Report) last announced 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. Stride had a return on equity of 22.06% and a net margin of 13.18%. The firm had revenue of $639.38 million during the quarter, compared to analysts' expectations of $612.25 million. During the same period last year, the business posted $1.40 earnings per share. The company's revenue for the quarter was up 3.0% compared to the same quarter last year. On average, research analysts forecast that Stride, Inc. will post 9.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

LRN has been the subject of a number of recent research reports. Barrington Research reduced their price target on shares of Stride from $125.00 to $115.00 and set an "outperform" rating for the company in a research report on Friday, October 23rd. BMO Capital Markets cut their price objective 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. Weiss Ratings upgraded shares of Stride from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, October 16th. Zacks Research raised shares of Stride from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 28th. Finally, William Blair downgraded shares of Stride from an "outperform" rating to a "market perform" rating in a research report on Thursday, July 30th. One research 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's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $106.25.

Institutional Trading of Stride

Several hedge funds and other institutional investors have recently bought and sold shares of LRN. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Stride in the second quarter valued at approximately $2,485,000. Janus Henderson Group PLC grew 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 purchasing an additional 862,849 shares during the period. JB Capital Partners LP acquired a new stake 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.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.