Principal Financial Group Inc. lowered its position in shares of Stride, Inc. (NYSE:LRN - Free Report) by 2.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 220,347 shares of the company's stock after selling 5,505 shares during the period. Principal Financial Group Inc. owned about 0.51% of Stride worth $18,798,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of LRN. Crossmark Global Holdings Inc. grew its holdings in shares of Stride by 3.9% during the third quarter. Crossmark Global Holdings Inc. now owns 3,213 shares of the company's stock worth $274,000 after purchasing an additional 121 shares during the last quarter. Arizona State Retirement System grew its holdings in Stride by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 11,536 shares of the company's stock worth $813,000 after acquiring an additional 220 shares during the last quarter. Isthmus Partners LLC increased its position in Stride by 4.8% in the 2nd quarter. Isthmus Partners LLC now owns 4,814 shares of the company's stock valued at $339,000 after acquiring an additional 222 shares during the period. Amalgamated Bank raised its stake in shares of Stride by 1.9% during the third quarter. Amalgamated Bank now owns 12,528 shares of the company's stock valued at $1,069,000 after acquiring an additional 235 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Stride by 0.6% during the second quarter. Sei Investments Co. now owns 40,210 shares of the company's stock worth $2,834,000 after purchasing an additional 242 shares during the period. Institutional investors and hedge funds own 98.24% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on LRN shares. BMO Capital Markets increased their price objective on Stride from $84.00 to $88.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. StockNews.com cut Stride from a "buy" rating to a "hold" rating in a research note on Wednesday, October 23rd. Morgan Stanley upped their target price on Stride from $94.00 to $109.00 and gave the company an "equal weight" rating in a report on Thursday, December 12th. Citigroup increased their target price on shares of Stride from $90.00 to $94.00 and gave the company a "neutral" rating in a research report on Tuesday, October 29th. Finally, Canaccord Genuity Group upped their price objective on shares of Stride from $94.00 to $100.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Stride presently has a consensus rating of "Moderate Buy" and an average target price of $97.50.
Check Out Our Latest Stock Report on Stride
Stride Trading Down 0.5 %
LRN traded down $0.53 during trading on Friday, hitting $104.97. The company's stock had a trading volume of 322,818 shares, compared to its average volume of 817,545. The firm has a market capitalization of $4.58 billion, a P/E ratio of 19.09, a PEG ratio of 0.80 and a beta of 0.30. Stride, Inc. has a twelve month low of $54.81 and a twelve month high of $112.80. The company has a quick ratio of 5.50, a current ratio of 5.60 and a debt-to-equity ratio of 0.38. The stock's fifty day moving average price is $100.19 and its 200-day moving average price is $84.14.
Stride (NYSE:LRN - Get Free Report) last released 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. The company had revenue of $551.08 million for the quarter, compared to the consensus estimate of $504.29 million. Stride had a net margin of 11.38% and a return on equity of 21.23%. Stride's quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.11 EPS. Analysts anticipate that Stride, Inc. will post 6.64 EPS for the current year.
Insider Transactions at Stride
In other news, Director Todd Goldthwaite sold 8,028 shares of the business'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 transaction of $734,883.12. Following the completion of the sale, the director now owns 85,058 shares in the company, valued at $7,786,209.32. The trade was a 8.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 3.00% of the company's stock.
About Stride
(
Free Report)
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.
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