Bridgewater Associates LP Has $4.67 Million Stake in Stride, Inc. (NYSE:LRN)

Bridgewater Associates LP reduced its stake in Stride, Inc. (NYSE:LRN - Free Report) by 40.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 54,694 shares of the company's stock after selling 36,460 shares during the period. Bridgewater Associates LP owned 0.13% of Stride worth $4,666,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of LRN. nVerses Capital LLC acquired a new position in shares of Stride in the second quarter valued at about $78,000. Mendota Financial Group LLC acquired a new position in shares of Stride in the third quarter valued at about $86,000. Advisors Asset Management Inc. grew its stake in shares of Stride by 38.0% in the first quarter. Advisors Asset Management Inc. now owns 2,740 shares of the company's stock valued at $173,000 after acquiring an additional 754 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Stride by 45.3% in the third quarter. GAMMA Investing LLC now owns 2,061 shares of the company's stock valued at $176,000 after acquiring an additional 643 shares in the last quarter. Finally, Central Pacific Bank Trust Division grew its stake in shares of Stride by 24.2% in the third quarter. Central Pacific Bank Trust Division now owns 2,153 shares of the company's stock valued at $184,000 after acquiring an additional 420 shares in the last quarter. 98.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LRN has been the topic of a number of analyst reports. Citigroup increased their price objective on shares of Stride from $90.00 to $94.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 29th. BMO Capital Markets increased their price objective on shares of Stride from $84.00 to $88.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. Barrington Research increased their price objective on shares of Stride from $90.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. Canaccord Genuity Group initiated coverage on shares of Stride in a research note on Thursday, August 8th. They set a "buy" rating and a $94.00 price objective on the stock. Finally, StockNews.com downgraded shares of Stride from a "buy" rating to a "hold" rating in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Stride has an average rating of "Moderate Buy" and an average price target of $90.17.

Insider Buying and Selling

In related news, Director Todd Goldthwaite sold 8,028 shares of Stride stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $91.54, for a total transaction of $734,883.12. Following the sale, the director now directly owns 85,058 shares in the company, valued at $7,786,209.32. This trade represents a 8.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.00% of the stock is owned by corporate insiders.

Stride Price Performance

Shares of LRN stock traded down $0.17 on Friday, reaching $106.87. The company had a trading volume of 360,035 shares, compared to its average volume of 830,911. The stock has a market capitalization of $4.66 billion, a PE ratio of 19.43, a price-to-earnings-growth ratio of 0.80 and a beta of 0.27. The company has a quick ratio of 5.50, a current ratio of 5.60 and a debt-to-equity ratio of 0.38. Stride, Inc. has a one year low of $54.81 and a one year high of $108.48. The business's 50-day moving average is $89.13 and its 200 day moving average is $79.22.

Stride (NYSE:LRN - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The company reported $0.94 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.72. The firm had revenue of $551.08 million during the quarter, compared to analysts' expectations of $504.29 million. Stride had a net margin of 11.38% and a return on equity of 21.23%. The business's revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.11 earnings per share. Equities research analysts forecast that Stride, Inc. will post 6.66 EPS for the current fiscal year.

About Stride

Stride, Inc, a technology-based education service company, engages in the provision of proprietary and third-party online curriculum, software systems, and educational services in the United States and internationally. Its technology-based products and services enable clients to attract, enroll, educate, track progress, support, and facilitate individualized learning for students.