Stride, Inc. (NYSE:LRN) Stake Lessened by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC reduced its stake in Stride, Inc. (NYSE:LRN - Free Report) by 66.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,190 shares of the company's stock after selling 29,431 shares during the quarter. Los Angeles Capital Management LLC's holdings in Stride were worth $1,296,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in LRN. Mendota Financial Group LLC purchased a new stake in shares of Stride during the 3rd quarter worth about $86,000. nVerses Capital LLC acquired a new stake in shares of Stride in the second quarter valued at about $78,000. Motco purchased a new stake in shares of Stride during the 1st quarter valued at about $74,000. EntryPoint Capital LLC purchased a new position in Stride in the 1st quarter worth approximately $77,000. Finally, GAMMA Investing LLC lifted its position in shares of Stride by 45.3% during the third quarter. GAMMA Investing LLC now owns 2,061 shares of the company's stock worth $176,000 after purchasing an additional 643 shares in the last quarter. Institutional investors and hedge funds own 98.24% of the company's stock.

Wall Street Analyst Weigh In

LRN has been the subject of a number of recent analyst reports. BMO Capital Markets raised their price target on shares of Stride from $84.00 to $88.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. Barrington Research lifted their target price on Stride from $90.00 to $100.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 23rd. Citigroup increased their price target on Stride from $90.00 to $94.00 and gave the company a "neutral" rating in a report on Tuesday, October 29th. Canaccord Genuity Group began coverage on Stride in a report on Thursday, August 8th. They set a "buy" rating and a $94.00 price objective on the stock. Finally, Canaccord Genuity Group boosted their target price on shares of Stride from $94.00 to $100.00 and gave the stock a "buy" rating in a research report 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 company's stock. According to MarketBeat, Stride presently has a consensus rating of "Moderate Buy" and an average target price of $90.17.

Stride Stock Performance

Shares of NYSE:LRN traded up $1.31 on Friday, hitting $100.93. The company's stock had a trading volume of 230,495 shares, compared to its average volume of 839,792. The company has a market capitalization of $4.40 billion, a price-to-earnings ratio of 18.12, a price-to-earnings-growth ratio of 0.75 and a beta of 0.27. The company has a debt-to-equity ratio of 0.38, a quick ratio of 5.50 and a current ratio of 5.60. Stride, Inc. has a 12 month low of $54.81 and a 12 month high of $103.98. The stock's 50-day moving average is $84.01 and its two-hundred day moving average is $76.59.

Stride (NYSE:LRN - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $504.29 million. During the same quarter in the prior year, the firm posted $0.11 EPS. Stride's revenue was up 14.8% compared to the same quarter last year. On average, equities research analysts forecast that Stride, Inc. will post 6.66 EPS for the current year.

Insider Buying and Selling

In related news, Director Todd Goldthwaite sold 8,028 shares of the firm's stock in a transaction dated 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 transaction, the director now owns 85,058 shares of the company's stock, valued at $7,786,209.32. This trade represents a 8.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.00% of the stock is owned by corporate insiders.

Stride Company 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.