Congress Asset Management Co. Invests $45.62 Million in Stride, Inc. (NYSE:LRN)

Congress Asset Management Co. acquired a new stake in Stride, Inc. (NYSE:LRN - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 534,711 shares of the company's stock, valued at approximately $45,616,000. Congress Asset Management Co. owned 1.24% of Stride as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LRN. William Blair Investment Management LLC acquired a new stake in shares of Stride in the first quarter valued at about $111,377,000. Swedbank AB acquired a new position in Stride during the first quarter worth about $60,385,000. Vaughan Nelson Investment Management L.P. acquired a new position in Stride during the second quarter worth about $43,387,000. Victory Capital Management Inc. raised its position in Stride by 1,443.6% during the second quarter. Victory Capital Management Inc. now owns 479,941 shares of the company's stock worth $33,836,000 after acquiring an additional 448,849 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Stride by 641.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 508,444 shares of the company's stock valued at $32,058,000 after buying an additional 439,911 shares during the last quarter. Institutional investors and hedge funds own 98.24% of the company's stock.

Insiders Place Their Bets

In other 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 transaction of $734,883.12. Following the transaction, the director now directly owns 85,058 shares of the company's stock, valued at approximately $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 this hyperlink. 2.76% of the stock is owned by insiders.

Stride Trading Down 0.8 %

Stride stock traded down $0.76 during trading on Thursday, reaching $93.31. The company had a trading volume of 900,639 shares, compared to its average volume of 841,687. Stride, Inc. has a 12-month low of $54.61 and a 12-month high of $96.07. The stock's 50 day moving average price is $80.33 and its two-hundred day moving average price is $73.77. The firm has a market capitalization of $4.07 billion, a price-to-earnings ratio of 17.27, a PEG ratio of 0.64 and a beta of 0.26. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.95 and a current ratio of 5.10.

Stride (NYSE:LRN - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $0.94 earnings per share (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 21.76%. The company had revenue of $551.08 million during the quarter, compared to the consensus estimate of $504.29 million. During the same period in the previous year, the firm earned $0.11 earnings per share. Stride's revenue for the quarter was up 14.8% on a year-over-year basis. As a group, equities analysts expect that Stride, Inc. will post 5.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LRN has been the subject of a number of analyst reports. Canaccord Genuity Group initiated coverage on shares of Stride in a research report on Thursday, August 8th. They issued a "buy" rating and a $94.00 price objective for the company. BMO Capital Markets boosted their price objective on shares of Stride from $84.00 to $88.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. Citigroup boosted their price objective on shares of Stride from $90.00 to $94.00 and gave the company a "neutral" rating in a research report on Tuesday. Canaccord Genuity Group boosted their price objective on shares of Stride from $94.00 to $100.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Finally, StockNews.com lowered shares of Stride from a "buy" rating to a "hold" rating in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, Stride currently has a consensus rating of "Moderate Buy" and an average target price 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.