Nordea Investment Management AB Acquires 4,828 Shares of Stride, Inc. (NYSE:LRN)

Nordea Investment Management AB raised its stake in shares of Stride, Inc. (NYSE:LRN - Free Report) by 4.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 115,774 shares of the company's stock after buying an additional 4,828 shares during the quarter. Nordea Investment Management AB owned about 0.27% of Stride worth $12,177,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Mendota Financial Group LLC purchased a new position in Stride during the third quarter worth about $86,000. TD Private Client Wealth LLC lifted its position in Stride by 27.7% during the third quarter. TD Private Client Wealth LLC now owns 1,962 shares of the company's stock valued at $167,000 after buying an additional 426 shares in the last quarter. GAMMA Investing LLC lifted its position 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 in the last quarter. Central Pacific Bank Trust Division boosted 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 purchasing an additional 420 shares during the period. Finally, Retirement Guys Formula LLC purchased a new stake in shares of Stride during the third quarter worth about $203,000. Hedge funds and other institutional investors own 98.24% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on LRN. StockNews.com lowered Stride from a "buy" rating to a "hold" rating in a research report on Wednesday, October 23rd. Morgan Stanley increased their target price on shares of Stride from $94.00 to $109.00 and gave the company an "equal weight" rating in a research report on Thursday, December 12th. Citigroup boosted their price target on shares of Stride from $90.00 to $94.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 29th. Barrington Research lifted their target price on Stride from $90.00 to $100.00 and gave the stock an "outperform" rating in a report on Wednesday, October 23rd. Finally, BMO Capital Markets raised their target price on shares of Stride from $84.00 to $88.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $97.50.

Insider Buying and Selling

In other Stride news, Director Todd Goldthwaite sold 8,028 shares of the firm's stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $91.54, for a total value of $734,883.12. Following the transaction, the director now directly owns 85,058 shares of the company's stock, 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 can be accessed through the SEC website. 3.00% of the stock is currently owned by corporate insiders.

Stride Price Performance

Shares of NYSE:LRN traded up $1.65 during trading on Thursday, reaching $108.87. The stock had a trading volume of 1,068,297 shares, compared to its average volume of 776,608. The stock has a market capitalization of $4.75 billion, a PE ratio of 19.79, a P/E/G ratio of 0.80 and a beta of 0.32. Stride, Inc. has a 52 week low of $54.81 and a 52 week high of $112.80. The business's 50-day moving average price is $104.42 and its 200 day moving average price is $86.61. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.60 and a quick ratio of 5.50.

Stride (NYSE:LRN - Get Free Report) last released 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 analyst estimates of $504.29 million. Stride had a net margin of 11.38% and a return on equity of 21.23%. The business's quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.11 EPS. As a group, equities analysts predict that Stride, Inc. will post 6.64 earnings per share for the current year.

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.