Wells Fargo & Company MN increased its stake in K12 Inc (NYSE:LRN) by 2.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,640 shares of the company’s stock after buying an additional 973 shares during the period. Wells Fargo & Company MN owned approximately 0.13% of K12 worth $932,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Hennessy Advisors Inc. bought a new stake in shares of K12 during the first quarter valued at approximately $4,129,000. Russell Investments Group Ltd. increased its stake in shares of K12 by 0.4% in the first quarter. Russell Investments Group Ltd. now owns 240,733 shares of the company’s stock valued at $4,609,000 after buying an additional 1,029 shares during the period. Shell Asset Management Co. bought a new stake in shares of K12 during the first quarter valued at approximately $1,109,000. Teachers Advisors LLC increased its stake in shares of K12 by 16.1% in the fourth quarter. Teachers Advisors LLC now owns 85,604 shares of the company’s stock valued at $1,469,000 after buying an additional 11,851 shares during the period. Finally, Putnam Investments LLC bought a new stake in shares of K12 during the fourth quarter valued at approximately $982,000. 79.27% of the stock is owned by hedge funds and other institutional investors.
K12 Inc (LRN) traded up 1.40% during trading on Friday, hitting $18.05. The stock had a trading volume of 116,138 shares. The company has a market capitalization of $690.41 million, a P/E ratio of 119.54 and a beta of -0.21. The stock’s 50-day moving average price is $18.13 and its 200-day moving average price is $18.61. K12 Inc has a 1-year low of $10.17 and a 1-year high of $21.18.
K12 (NYSE:LRN) last announced its quarterly earnings data on Thursday, April 27th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.16. K12 had a net margin of 0.67% and a return on equity of 3.19%. The company had revenue of $222.50 million during the quarter, compared to analyst estimates of $215.69 million. During the same period in the previous year, the business earned $0.37 EPS. The firm’s revenue for the quarter was up .5% on a year-over-year basis. Analysts expect that K12 Inc will post $0.41 earnings per share for the current year.
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Several analysts have recently commented on the company. BidaskClub downgraded K12 from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th. Zacks Investment Research lowered K12 from a “buy” rating to a “hold” rating in a report on Thursday, July 20th. BMO Capital Markets reaffirmed a “buy” rating on shares of K12 in a report on Friday, April 28th. Finally, TheStreet raised K12 from a “c+” rating to a “b-” rating in a report on Monday, April 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $17.75.
In related news, insider Nathaniel A. Davis sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $20.46, for a total value of $51,150.00. Following the completion of the transaction, the insider now directly owns 788,695 shares in the company, valued at approximately $16,136,699.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO James Jeaho Rhyu sold 5,000 shares of the business’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $18.79, for a total transaction of $93,950.00. Following the sale, the chief financial officer now owns 280,624 shares of the company’s stock, valued at $5,272,924.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 92,600 shares of company stock valued at $1,798,268. 18.34% of the stock is owned by company insiders.
K12 Company Profile
K12 Inc (K12) is a technology-based education company. The Company offers curriculum, software systems and educational services designed to facilitate individualized learning for students in kindergarten through 12th grade (K-12). It provides a continuum of technology-based educational products and solutions to public school districts, public schools, virtual charter schools, private schools and families.
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