New York State Common Retirement Fund Reduces Stock Position in Stride, Inc. (NYSE:LRN)

New York State Common Retirement Fund decreased its position in shares of Stride, Inc. (NYSE:LRN - Free Report) by 2.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 192,261 shares of the company's stock after selling 5,600 shares during the quarter. New York State Common Retirement Fund owned 0.44% of Stride worth $16,402,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of LRN. William Blair Investment Management LLC acquired a new stake in Stride in the 1st quarter valued at about $111,377,000. Swedbank AB purchased a new position in Stride in the 1st quarter valued at about $60,385,000. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Stride during the 2nd quarter worth about $43,387,000. Congress Asset Management Co. purchased a new stake in shares of Stride during the third quarter worth about $45,616,000. Finally, Victory Capital Management Inc. raised its position in shares of Stride by 1,443.6% in the second quarter. Victory Capital Management Inc. now owns 479,941 shares of the company's stock valued at $33,836,000 after buying an additional 448,849 shares during the last quarter. Institutional investors and hedge funds own 98.24% of the company's stock.

Stride Trading Up 4.9 %

LRN traded up $4.66 during trading on Wednesday, hitting $99.43. 1,170,431 shares of the company's stock were exchanged, compared to its average volume of 2,153,825. Stride, Inc. has a 1 year low of $54.81 and a 1 year high of $99.48. The stock has a 50 day moving average price of $81.32 and a 200 day moving average price of $74.90. The firm has a market cap of $4.33 billion, a P/E ratio of 18.08, a price-to-earnings-growth ratio of 0.70 and a beta of 0.27. The company has a current ratio of 5.60, a quick ratio of 5.50 and a debt-to-equity ratio of 0.38.

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

Wall Street Analyst Weigh In

Several research firms have commented on LRN. Citigroup lifted their target price 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. Barrington Research increased 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. Canaccord Genuity Group began coverage on Stride in a report on Thursday, August 8th. They issued a "buy" rating and a $94.00 price target for the company. StockNews.com cut shares of Stride from a "buy" rating to a "hold" rating in a research report on Wednesday, October 23rd. Finally, BMO Capital Markets upped their price target on shares of Stride from $84.00 to $88.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $90.17.

Insider Activity at Stride

In other Stride news, Director Todd Goldthwaite sold 8,028 shares of the company's stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $91.54, for a total value of $734,883.12. Following the completion of the transaction, the director now owns 85,058 shares in the company, valued at $7,786,209.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.00% of the company's stock.

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.