Montanaro Asset Management Ltd Increases Stake in Stride, Inc. (NYSE:LRN)

Montanaro Asset Management Ltd raised its stake in shares of Stride, Inc. (NYSE:LRN - Free Report) by 20.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 155,000 shares of the company's stock after purchasing an additional 26,000 shares during the period. Stride accounts for approximately 2.4% of Montanaro Asset Management Ltd's investment portfolio, making the stock its 18th biggest position. Montanaro Asset Management Ltd owned approximately 0.36% of Stride worth $13,223,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Mendota Financial Group LLC bought a new position in Stride during the 3rd quarter worth $86,000. nVerses Capital LLC acquired a new stake in Stride during the 2nd quarter worth about $78,000. Motco acquired a new stake in Stride during the 1st quarter worth about $74,000. EntryPoint Capital LLC acquired a new stake in Stride during the 1st quarter worth about $77,000. Finally, GAMMA Investing LLC grew its holdings in Stride by 45.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,061 shares of the company's stock worth $176,000 after acquiring an additional 643 shares during the period. 98.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LRN. Citigroup raised their target price on Stride from $90.00 to $94.00 and gave the company a "neutral" rating in a research note on Tuesday, October 29th. Barrington Research raised 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. Canaccord Genuity Group raised 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. BMO Capital Markets raised their target price on Stride from $84.00 to $88.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Finally, Canaccord Genuity Group assumed coverage on shares of Stride in a research report on Thursday, August 8th. They issued a "buy" rating and a $94.00 price target on the stock. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $90.17.

Stride Stock Performance

Stride stock traded up $2.99 during mid-day trading on Friday, reaching $101.88. The company's stock had a trading volume of 986,952 shares, compared to its average volume of 2,166,676. Stride, Inc. has a 12-month low of $54.81 and a 12-month high of $103.40. The company has a market capitalization of $4.44 billion, a P/E ratio of 18.52, a PEG 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. The firm's fifty day moving average price is $82.41 and its two-hundred day moving average price is $75.66.

Stride (NYSE:LRN - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $0.94 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 period in the previous year, the business earned $0.11 EPS. The business's revenue for the quarter was up 14.8% on a year-over-year basis. Sell-side analysts predict that Stride, Inc. will post 6.66 EPS for the current fiscal year.

Insiders Place Their Bets

In other Stride news, Director Todd Goldthwaite sold 8,028 shares of the business's stock in a transaction on Friday, October 25th. The shares were sold at an average price of $91.54, for a total value of $734,883.12. Following the completion of the sale, the director now directly owns 85,058 shares of the company's stock, valued at $7,786,209.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.76% of the stock is currently owned by 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.