Algert Global LLC decreased its stake in shares of Stride, Inc. (NYSE:LRN - Free Report) by 31.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,388 shares of the company's stock after selling 10,290 shares during the quarter. Algert Global LLC owned about 0.05% of Stride worth $1,910,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Blue Trust Inc. lifted its stake in shares of Stride by 795.5% in the second quarter. Blue Trust Inc. now owns 11,543 shares of the company's stock valued at $814,000 after buying an additional 10,254 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in Stride during the 2nd quarter worth $534,000. International Assets Investment Management LLC grew its stake in shares of Stride by 8,431.7% in the 3rd quarter. International Assets Investment Management LLC now owns 5,119 shares of the company's stock worth $437,000 after acquiring an additional 5,059 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Stride by 24.6% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 36,000 shares of the company's stock valued at $3,071,000 after purchasing an additional 7,100 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Stride during the first quarter valued at about $5,402,000. Institutional investors and hedge funds own 98.24% of the company's stock.
Analyst Ratings Changes
Several research firms have commented on LRN. Canaccord Genuity Group assumed coverage on shares of Stride in a research note on Thursday, August 8th. They issued a "buy" rating and a $94.00 price objective for the company. Canaccord Genuity Group increased their price target on Stride from $94.00 to $100.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. StockNews.com lowered Stride from a "buy" rating to a "hold" rating in a report on Wednesday, October 23rd. Barrington Research upped their price objective on Stride from $90.00 to $100.00 and gave the company an "outperform" rating in a research note on Wednesday, October 23rd. Finally, Citigroup lifted their target price on Stride from $90.00 to $94.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 29th. 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, Stride has a consensus rating of "Moderate Buy" and a consensus target price of $90.17.
Read Our Latest Stock Analysis on LRN
Insider Activity
In other news, Director Todd Goldthwaite sold 8,028 shares of the company'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 completion of the transaction, the director now directly owns 85,058 shares of the company's stock, valued at approximately $7,786,209.32. This represents a 8.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.00% of the stock is currently owned by corporate insiders.
Stride Stock Performance
Shares of NYSE LRN traded down $1.41 during trading on Thursday, reaching $107.04. 526,885 shares of the stock traded hands, compared to its average volume of 832,959. The company has a 50-day moving average of $88.24 and a 200-day moving average of $78.78. Stride, Inc. has a 52-week low of $54.81 and a 52-week high of $108.48. The stock has a market capitalization of $4.67 billion, a P/E ratio of 19.46, a price-to-earnings-growth ratio of 0.80 and a beta of 0.27. 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, beating analysts' consensus estimates of $0.22 by $0.72. The business had revenue of $551.08 million for the quarter, compared to analysts' expectations of $504.29 million. Stride had a return on equity of 21.23% and a net margin of 11.38%. The firm's revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.11 earnings per share. Analysts forecast that Stride, Inc. will post 6.66 EPS for the current fiscal year.
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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