Insider Selling: Ronald Packard Sells 27,000 Shares of K12 Stock (LRN)
K12 (NYSE:LRN) CEO Ronald Packard unloaded 27,000 shares of K12 stock on the open market in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $37.42, for a total transaction of $1,010,340.00. Following the sale, the chief executive officer now directly owns 185,236 shares in the company. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on LRN shares. Analysts at Stifel Nicolaus raised their price target on shares of K12 (NYSE:LRN) from $33.00 to $39.00 in a research note to investors on Friday, August 30th. They now have a “buy” rating on the stock. Separately, analysts at BMO Capital Markets raised their price target on shares of K12 (NYSE:LRN) from $29.00 to $40.00 in a research note to investors on Friday, August 30th. They now have an “outperform” rating on the stock. Finally, analysts at Barrington Research raised their price target on shares of K12 (NYSE:LRN) to $40.00 in a research note to investors on Friday, August 30th. They now have an “outperform” rating on the stock.
Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $35.09.
Shares of K12 (NYSE:LRN) traded down 1.71% during mid-day trading on Friday, hitting $36.22. 312,368 shares of the company’s stock traded hands. K12 has a 1-year low of $15.83 and a 1-year high of $38.14. The stock has a 50-day moving average of $32.94 and a 200-day moving average of $27.85. The company has a market cap of $1.322 billion and a P/E ratio of 51.18.
K12 (NYSE:LRN) last posted its quarterly earnings results on Thursday, August 29th. The company reported $0.06 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.03 by $0.03. The company had revenue of $203.10 million for the quarter, compared to the consensus estimate of $200.96 million. During the same quarter in the prior year, the company posted $0.05 earnings per share. The company’s quarterly revenue was up 19.2% on a year-over-year basis. On average, analysts predict that K12 will post $0.95 earnings per share for the current fiscal year.
K12 Inc (NYSE:LRN) is a technology-based education company.
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