Prudential Financial Inc. increased its stake in K12 Inc (NYSE:LRN) by 7.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,824 shares of the company’s stock after acquiring an additional 1,366 shares during the period. Prudential Financial Inc.’s holdings in K12 were worth $355,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of LRN. Wells Fargo & Company MN boosted its holdings in shares of K12 by 2.0% in the first quarter. Wells Fargo & Company MN now owns 48,640 shares of the company’s stock valued at $932,000 after acquiring an additional 973 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in K12 by 2.8% during the first quarter. Bank of New York Mellon Corp now owns 473,384 shares of the company’s stock valued at $9,066,000 after purchasing an additional 12,894 shares during the last quarter. UBS Asset Management Americas Inc. acquired a new stake in K12 during the first quarter valued at approximately $255,000. Victory Capital Management Inc. acquired a new stake in K12 during the first quarter valued at approximately $299,000. Finally, American International Group Inc. lifted its stake in K12 by 7.1% during the first quarter. American International Group Inc. now owns 20,813 shares of the company’s stock valued at $399,000 after purchasing an additional 1,373 shares during the last quarter. Institutional investors and hedge funds own 79.51% of the company’s stock.
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Shares of K12 Inc (NYSE LRN) opened at 17.21 on Friday. The company’s 50-day moving average is $17.64 and its 200 day moving average is $18.41. The firm has a market capitalization of $665.72 million, a price-to-earnings ratio of 1721.00 and a beta of -0.23. K12 Inc has a 1-year low of $10.17 and a 1-year high of $21.18.
In other news, CFO James Jeaho Rhyu sold 5,000 shares of K12 stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $18.04, for a total transaction of $90,200.00. Following the completion of the sale, the chief financial officer now owns 250,624 shares in the company, valued at approximately $4,521,256.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In the last quarter, insiders have sold 55,000 shares of company stock valued at $990,850. 18.34% of the stock is owned by corporate insiders.
Several analysts recently commented on LRN shares. Zacks Investment Research lowered shares of K12 from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 5th. BidaskClub lowered shares of K12 from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th. Finally, TheStreet lowered shares of K12 from a “b-” rating to a “c+” rating in a research note on Thursday, August 17th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. K12 presently has an average rating of “Hold” and an average target price of $18.67.
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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