Geode Capital Management LLC Purchases 35,349 Shares of Stride, Inc. (NYSE:LRN)

Geode Capital Management LLC raised its stake in shares of Stride, Inc. (NYSE:LRN - Free Report) by 3.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 964,701 shares of the company's stock after purchasing an additional 35,349 shares during the quarter. Geode Capital Management LLC owned approximately 2.21% of Stride worth $82,315,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. nVerses Capital LLC bought a new stake in shares of Stride during the 2nd quarter valued at about $78,000. Mendota Financial Group LLC purchased a new stake in Stride in the third quarter worth about $86,000. GAMMA Investing LLC boosted its position in Stride by 45.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,061 shares of the company's stock valued at $176,000 after acquiring an additional 643 shares in the last quarter. Central Pacific Bank Trust Division grew its holdings in shares of Stride by 24.2% during the 3rd quarter. Central Pacific Bank Trust Division now owns 2,153 shares of the company's stock worth $184,000 after acquiring an additional 420 shares during the period. Finally, Retirement Guys Formula LLC bought a new position in shares of Stride in the 3rd quarter worth approximately $203,000. 98.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on LRN shares. BMO Capital Markets lifted their price target on 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 target price on shares of Stride from $90.00 to $94.00 and gave the company a "neutral" rating in a report on Tuesday, October 29th. Canaccord Genuity Group increased their price target on shares of Stride from $94.00 to $100.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Morgan Stanley boosted their price objective on shares of Stride from $94.00 to $109.00 and gave the stock an "equal weight" rating in a research note on Thursday, December 12th. Finally, StockNews.com downgraded shares of Stride from a "buy" rating to a "hold" rating in a research note on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $97.50.

Insider Transactions at Stride

In other 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 transaction of $734,883.12. Following the sale, the director now 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 3.00% of the company's stock.

Stride Stock Down 0.8 %

Stride stock traded down $0.87 during trading hours on Friday, hitting $105.21. The stock had a trading volume of 691,293 shares, compared to its average volume of 826,059. The stock's 50-day moving average price is $96.52 and its 200-day moving average price is $82.88. The stock has a market capitalization of $4.59 billion, a P/E ratio of 19.13, a price-to-earnings-growth ratio of 0.80 and a beta of 0.30. Stride, Inc. has a 12-month low of $54.81 and a 12-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.

Stride (NYSE:LRN - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $0.94 earnings per share for the quarter, topping 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 company 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 firm's revenue for the quarter was up 14.8% on a year-over-year basis. Equities research analysts anticipate that Stride, Inc. will post 6.66 EPS for the current fiscal year.

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.