James Jeaho Rhyu, the Chief Executive Officer of Stride, Inc. (NYSE:LRN), recently sold shares worth approximately $2.82 million, according to a filing submitted to the Securities and Exchange Commission. The transactions occurred on November 6 and 7, 2024, and were executed under a pre-arranged 10b5-1 trading plan.
On November 6, Rhyu sold 23,187 shares at a weighted average price of $97.29, with prices ranging from $96.23 to $98.33. The following day, he sold an additional 5,683 shares at a weighted average price of $98.72, with transaction prices ranging from $98.35 to $99.46. After these sales, Rhyu's direct ownership stands at 657,408 shares.
These sales were part of a previously established trading plan, allowing executives to sell predetermined amounts of stock at scheduled times, which can help avoid any potential conflicts of interest.
In other recent news, Stride Inc (NYSE:LRN). has celebrated its 25th anniversary with robust first-quarter fiscal year 2025 results. The company reported a record-breaking surge in enrollments to over 222,000, an 18.5% increase from the previous year. This growth was accompanied by a 15% increase in revenue to $551.1 million and a 295% jump in adjusted operating income to $58.4 million. BMO Capital Markets has responded to these positive developments by raising its stock price target for Stride Inc. from $84 to $88 while maintaining an Outperform rating. Despite potential challenges associated with the predicted decline in ESSER funds, part of federal stimulus funding, Stride's management anticipates stable revenue and enrollment numbers. The company also reported over 30% growth in Career Learning revenue to $198.9 million. These are among the recent developments for Stride Inc.
InvestingPro Insights
The recent stock sale by Stride, Inc.'s CEO James Jeaho Rhyu comes at a time when the company's stock is performing exceptionally well. According to InvestingPro data, Stride's stock has seen a remarkable 74.62% price total return over the past year, with a 28.4% increase in just the last month. This strong performance is reflected in the stock trading near its 52-week high, with the current price at 98.62% of that peak.
InvestingPro Tips highlight that Stride is trading at a low P/E ratio relative to its near-term earnings growth, with a PEG ratio of 0.33. This suggests that despite the recent price surge, the stock may still be undervalued compared to its growth prospects. Additionally, the company's financial health appears robust, with liquid assets exceeding short-term obligations and cash flows sufficiently covering interest payments.
It's worth noting that 4 analysts have revised their earnings upwards for the upcoming period, indicating positive sentiment about Stride's future performance. The company's revenue growth of 11.55% over the last twelve months and a 14.77% quarterly growth also paint a picture of a company on a solid growth trajectory.
For investors seeking more comprehensive analysis, InvestingPro offers 15 additional tips for Stride, Inc., providing a deeper understanding of the company's financial position and market performance.
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