Stride (NYSE:LRN) Director Dylan Haggart Purchases 792 Shares of Company Stock

Key Points

• Director Dylan Haggart bought 792 Stride shares at an average price of $78.52, investing $62,187.84 and increasing his ownership to 1,899,703 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.
• Analysts maintain a consensus “Hold” rating with an average price target of $106.25, while institutional investors own 98.24% of the company.

Stride, Inc. (NYSE:LRN - Get Free Report) Director Dylan Haggart acquired 792 shares of the firm's stock in a transaction on Tuesday, October 27th. The shares were bought at an average cost of $78.52 per share, with a total value of $62,187.84. Following the completion of the acquisition, the director owned 1,899,703 shares in the company, valued at $149,164,679.56. This represents a 0.04% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

Stride Stock Up 0.5%

Shares of Stride stock traded up $0.43 during trading on Thursday, reaching $80.53. The company had a trading volume of 793,264 shares, compared to its average volume of 912,466. The company has a market cap of $3.39 billion, a price-to-earnings ratio of 11.11, a price-to-earnings-growth ratio of 0.44 and a beta of 0.14. The firm's fifty day moving average is $81.55 and its 200-day moving average is $85.70. 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.

Stride (NYSE:LRN - Get Free Report) last issued its quarterly earnings results on Tuesday, October 20th. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.07 by $0.30. The business had revenue of $639.38 million for the quarter, compared to analysts' expectations of $612.25 million. Stride had a net margin of 13.18% and a return on equity of 22.06%. The company's quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.40 earnings per share. On average, analysts anticipate that Stride, Inc. will post 9.04 EPS for the current year.

Wall Street Analyst Weigh In

LRN has been the subject of several research reports. Barrington Research decreased their target price on Stride from $125.00 to $115.00 and set an "outperform" rating for the company in a research report on Friday, October 23rd. William Blair lowered Stride from an "outperform" rating to a "market perform" rating in a research report on Thursday, July 30th. Weiss Ratings upgraded Stride from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, October 16th. Finally, BMO Capital Markets reduced their price objective on 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 research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $106.25.

Institutional Investors Weigh In On Stride

Several institutional investors and hedge funds have recently bought and sold shares of LRN. EverSource Wealth Advisors LLC raised its stake in Stride by 108.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 432 shares of the company's stock valued at $38,000 after acquiring 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 $46,000. Caitlin John LLC bought a new position in shares of Stride in the second quarter worth $49,000. John Boyer Inc. bought a new position in shares of Stride in the third quarter worth $67,000. Finally, Bard Associates Inc. bought a new position in shares of Stride in the second quarter worth $88,000. Institutional investors and hedge funds own 98.24% of the company's stock.

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.

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