Sen. Markwayne Mullin Purchases Shares of Stride, Inc. (NYSE:LRN)

Senator Markwayne Mullin (R-Oklahoma) recently bought shares of Stride, Inc. (NYSE:LRN). In a filing disclosed on November 08th, the Senator disclosed that they had bought between $1,001 and $15,000 in Stride stock on July 30th.

Senator Markwayne Mullin also recently made the following trade(s):

• Sold $15,001 – $50,000 in shares of Starbucks (NASDAQ:SBUX) on 8/20/2024.
• Sold $15,001 – $50,000 in shares of Edwards Lifesciences (NYSE:EW) on 8/20/2024.
• Purchased $15,001 – $50,000 in shares of IQVIA (NYSE:IQV) on 8/20/2024.
• Purchased $15,001 – $50,000 in shares of TJX Companies (NYSE:TJX) on 8/20/2024.

Stride Stock Performance

NYSE:LRN opened at $101.83 on Friday. The company has a market cap of $4.44 billion, a price-to-earnings ratio of 18.51, a PEG ratio of 0.75 and a beta of 0.27. Stride, Inc. has a fifty-two week low of $54.81 and a fifty-two week high of $103.40. The company has a debt-to-equity ratio of 0.38, a quick ratio of 5.50 and a current ratio of 5.60. The stock has a fifty day moving average price of $82.41 and a 200-day moving average price of $75.54.

Stride (NYSE:LRN) last released its earnings results on Tuesday, October 22nd. The company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.72. The firm had revenue of $551.08 million during the quarter, compared to analysts’ expectations of $504.29 million. Stride had a return on equity of 21.23% and a net margin of 11.38%. The company’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.11 earnings per share. As a group, equities analysts anticipate that Stride, Inc. will post 6.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Stride

Several hedge funds and other institutional investors have recently made changes to their positions in LRN. Mirae Asset Global Investments Co. Ltd. increased its holdings in Stride by 17.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,262 shares of the company’s stock worth $1,971,000 after purchasing an additional 4,546 shares in the last quarter. Texas Permanent School Fund Corp grew its holdings in Stride by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 34,831 shares of the company’s stock worth $2,196,000 after buying an additional 496 shares in the last quarter. ClariVest Asset Management LLC raised its position in Stride by 67.3% in the 1st quarter. ClariVest Asset Management LLC now owns 30,794 shares of the company’s stock valued at $1,942,000 after buying an additional 12,393 shares during the last quarter. Swiss National Bank lifted its stake in Stride by 1.0% during the 1st quarter. Swiss National Bank now owns 81,300 shares of the company’s stock valued at $5,126,000 after acquiring an additional 800 shares in the last quarter. Finally, Inspire Advisors LLC purchased a new position in Stride during the 1st quarter worth $264,000. 98.24% of the stock is owned by institutional investors.

Insider Transactions at Stride

In related news, Director Todd Goldthwaite sold 8,028 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $91.54, for a total transaction of $734,883.12. Following the transaction, the director now directly owns 85,058 shares of the company’s stock, valued at $7,786,209.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.76% of the company’s stock.

Analysts Set New Price Targets

LRN has been the subject of several recent research reports. Canaccord Genuity Group upped their price objective on Stride from $94.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Citigroup raised their price target on shares of Stride from $90.00 to $94.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Canaccord Genuity Group started coverage on shares of Stride in a research note on Thursday, August 8th. They issued a “buy” rating and a $94.00 price objective on the stock. Barrington Research raised their target price on Stride from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, StockNews.com lowered Stride from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Stride has a consensus rating of “Moderate Buy” and an average target price of $90.17.

About Senator Mullin

Markwayne Mullin (Republican Party) is a member of the U.S. Senate from Oklahoma. He assumed office on January 11, 2023. His current term ends on January 3, 2027. Mullin (Republican Party) ran in a special election to the U.S. Senate to represent Oklahoma. He won in the special general election on November 8, 2022. Mullin is a member of the Cherokee Nation and one of four Native American members of the 116th Congress. At the age of 20, Mullin took over his father’s plumbing business. He is also a former professional mixed martial artist. Markwayne Mullin graduated from Stilwell High School. Mullin earned an associate degree in construction technology from Oklahoma State University Institute of Technology. His career experience includes owning and founding multiple businesses.

Stride Company Profile

Stride, Inc, a technology-based education service company, engages in the provision of proprietary and third-party online curriculum, software systems, and educational services in the United States and internationally. Its technology-based products and services enable clients to attract, enroll, educate, track progress, support, and facilitate individualized learning for students.