Cerity Partners LLC Reduces Stock Position in Stride, Inc. (NYSE:LRN)

Cerity Partners LLC reduced its stake in Stride, Inc. (NYSE:LRN - Free Report) by 7.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 127,035 shares of the company's stock after selling 10,431 shares during the quarter. Cerity Partners LLC owned approximately 0.29% of Stride worth $10,837,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Blue Trust Inc. increased its position in shares of Stride by 795.5% during the second quarter. Blue Trust Inc. now owns 11,543 shares of the company's stock valued at $814,000 after acquiring an additional 10,254 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in Stride in the second quarter worth $534,000. International Assets Investment Management LLC boosted its position in Stride by 8,431.7% in the third quarter. International Assets Investment Management LLC now owns 5,119 shares of the company's stock worth $437,000 after purchasing an additional 5,059 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its position in Stride by 24.6% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 36,000 shares of the company's stock worth $3,071,000 after purchasing an additional 7,100 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in Stride in the first quarter worth $5,402,000. 98.24% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Todd Goldthwaite sold 8,028 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $91.54, for a total transaction of $734,883.12. Following the completion of the sale, the director now owns 85,058 shares of the company's stock, valued at approximately $7,786,209.32. This represents a 8.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.00% of the stock is currently owned by insiders.

Stride Price Performance

Shares of NYSE LRN traded down $1.41 during trading hours on Wednesday, reaching $107.04. 526,811 shares of the stock traded hands, compared to its average volume of 832,959. The company has a market capitalization of $4.67 billion, a P/E ratio of 19.46, a price-to-earnings-growth ratio of 0.80 and a beta of 0.27. The company's 50-day simple moving average is $87.74 and its two-hundred day simple moving average is $78.58. 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 52-week low of $54.81 and a 52-week high of $108.48.

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

Analyst Ratings Changes

Several research analysts have weighed in on the company. Citigroup boosted their price objective on Stride from $90.00 to $94.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 29th. Canaccord Genuity Group began coverage on Stride in a research note on Thursday, August 8th. They issued a "buy" rating and a $94.00 target price on the stock. StockNews.com lowered Stride from a "buy" rating to a "hold" rating in a research note on Wednesday, October 23rd. Canaccord Genuity Group boosted their target price on Stride from $94.00 to $100.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Finally, Barrington Research boosted their target price on Stride from $90.00 to $100.00 and gave the company an "outperform" rating in a research note on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $90.17.

Stride Profile

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.