Stride, Inc. (NYSE:LRN) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its stake in Stride, Inc. (NYSE:LRN - Free Report) by 2.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 quarter.

Other large investors have also added to or reduced their stakes in the company. Motco purchased a new stake in shares of Stride in the 1st quarter worth approximately $74,000. EntryPoint Capital LLC bought a new stake in shares of Stride during the 1st quarter valued at $77,000. nVerses Capital LLC purchased a new position in shares of Stride in the second quarter valued at about $78,000. Mendota Financial Group LLC bought a new position in Stride in the 3rd quarter worth approximately $86,000. Finally, Advisors Asset Management Inc. increased its holdings in Stride by 38.0% in the 1st quarter. Advisors Asset Management Inc. now owns 2,740 shares of the company's stock valued at $173,000 after acquiring an additional 754 shares during the last quarter. Hedge funds and other institutional investors own 98.24% of the company's stock.

Insider Activity

In other Stride news, Director Todd Goldthwaite sold 8,028 shares of Stride 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 owns 85,058 shares in the company, valued at approximately $7,786,209.32. The trade was 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 link. Insiders own 3.00% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Citigroup raised their price objective on Stride from $90.00 to $94.00 and gave the company a "neutral" rating in a research note on Tuesday, October 29th. Barrington Research upped their price target on shares of Stride from $90.00 to $100.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 23rd. StockNews.com lowered shares of Stride from a "buy" rating to a "hold" rating in a research report on Wednesday, October 23rd. Canaccord Genuity Group initiated coverage on shares of Stride in a report on Thursday, August 8th. They set a "buy" rating and a $94.00 price objective on the stock. Finally, Canaccord Genuity Group increased their price objective on Stride from $94.00 to $100.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $90.17.

Stride Stock Up 0.7 %

Shares of NYSE:LRN traded up $0.67 on Friday, hitting $100.29. 492,953 shares of the company's stock were exchanged, compared to its average volume of 840,974. The company has a debt-to-equity ratio of 0.38, a quick ratio of 5.50 and a current ratio of 5.60. Stride, Inc. has a 1-year low of $54.81 and a 1-year high of $103.98. The company has a market capitalization of $4.37 billion, a PE ratio of 18.23, a P/E/G ratio of 0.75 and a beta of 0.27. The firm's 50-day moving average is $84.43 and its 200 day moving average is $76.81.

Stride (NYSE:LRN - Get Free Report) last posted 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 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 business's revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.11 earnings per share. Sell-side analysts predict that Stride, Inc. will post 6.66 EPS for the current 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.