Stride director Dylan Haggart buys $12.1M in stock

Dylan G. Haggart, a director at Stride, Inc. (NASDAQ:LRN), along with Fivespan Partners, LP, acquired shares of the company’s common stock totaling $12,178,122 across multiple transactions in late October. The purchases, which occurred on October 23 and October 26, 2026, involved 154,196 shares at prices ranging from $78.44 to $79.84 per share. The stock currently trades at $79.21, giving Stride a market capitalization of $3.25 billion. According to InvestingPro analysis, the company appears undervalued at current levels, trading at a P/E ratio of 10.98.

Mr. Haggart, who serves as co-founder, managing partner, and chief investment officer of Fivespan, and managing member of Fivespan Partners GP, LLC, reported the transactions. Fivespan Partners, LP, which serves as an investment manager, also filed the report jointly with Mr. Haggart. The acquired securities include those directly owned by Fivespan Partners Fund, Ltd., a Cayman Islands exempted company. Due to Mr. Haggart’s position on Stride’s board, Fivespan may be considered a director by deputization for Section 16 purposes. The reporting persons disclaim beneficial ownership of the securities except to the extent of any pecuniary interest. For deeper insights into Stride’s financial health and growth prospects, investors can access the comprehensive Pro Research Report, available among 1,400+ US equities covered on InvestingPro.

In other recent news, Stride reported its first-quarter fiscal 2027 results, surpassing Wall Street expectations. The company achieved adjusted earnings of $1.37 per share on revenue of $639.4 million, exceeding analysts’ projections of $1.13 per share and $629.8 million in sales. Despite this earnings beat, Stride’s stock experienced a decline, as investors reacted to weaker enrollment figures and narrowed margins. Enrollment numbers fell by 2.5% year over year, totaling 241,400 students, which did not meet management’s expectations. Additionally, Stride’s gross margin decreased to 37.7% from the previous year’s 39%, attributed to higher launch and support costs.

Management noted that technology issues negatively impacted the student and family experience during the enrollment period, which may have contributed to the disappointing enrollment numbers. However, the company mentioned seeing positive in-year enrollment growth since the count date, which could be beneficial later in the fiscal year. Stride’s revenue increased by 3% from the previous year, driven by a 7% rise in revenue per enrollment. While adjusted EBITDA rose by 3.1% to $111.8 million, adjusted operating income decreased by 3.1% to $78.6 million, and adjusted earnings per share fell by 9.9% to $1.37.