Victory Capital Management Inc. Purchases 347,564 Shares of Stride, Inc. (NYSE:LRN)

Victory Capital Management Inc. increased its position in shares of Stride, Inc. (NYSE:LRN - Free Report) by 72.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 827,505 shares of the company's stock after purchasing an additional 347,564 shares during the quarter. Victory Capital Management Inc. owned 1.90% of Stride worth $70,594,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Motco acquired a new stake in Stride during the first quarter worth about $74,000. EntryPoint Capital LLC bought a new position in Stride during the 1st quarter worth approximately $77,000. nVerses Capital LLC acquired a new position in shares of Stride during the second quarter valued at $78,000. Mendota Financial Group LLC acquired a new position in Stride during the 3rd quarter valued at about $86,000. Finally, Advisors Asset Management Inc. grew 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 worth $173,000 after buying an additional 754 shares in the last quarter. 98.24% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Stride

In related news, Director Todd Goldthwaite sold 8,028 shares of the business's stock in a transaction on Friday, October 25th. The stock was sold at an average price of $91.54, for a total value of $734,883.12. Following the completion of the sale, the director now directly owns 85,058 shares in the company, valued at $7,786,209.32. The trade was a 8.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 3.00% of the stock is currently owned by corporate insiders.

Stride Stock Down 0.1 %

LRN stock traded down $0.05 during mid-day trading on Friday, hitting $99.57. 150,351 shares of the company were exchanged, compared to its average volume of 839,431. The firm has a market cap of $4.34 billion, a P/E ratio of 18.12, a P/E/G ratio of 0.75 and a beta of 0.27. Stride, Inc. has a 1-year low of $54.81 and a 1-year high of $103.98. The company has a debt-to-equity ratio of 0.38, a quick ratio of 5.50 and a current ratio of 5.60. The firm's 50 day simple moving average is $84.01 and its 200 day simple moving average is $76.59.

Stride (NYSE:LRN - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The company reported $0.94 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 21.23%. The business had revenue of $551.08 million during the quarter, compared to analysts' expectations of $504.29 million. During the same quarter in the prior year, the company posted $0.11 earnings per share. The firm's revenue was up 14.8% on a year-over-year basis. On average, sell-side analysts predict that Stride, Inc. will post 6.66 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Citigroup boosted their price objective on Stride from $90.00 to $94.00 and gave the stock a "neutral" rating in a report on Tuesday, October 29th. BMO Capital Markets upped their price target on shares of Stride from $84.00 to $88.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. StockNews.com lowered shares of Stride from a "buy" rating to a "hold" rating in a research report on Wednesday, October 23rd. Barrington Research upped their price target on Stride from $90.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, October 23rd. Finally, Canaccord Genuity Group started 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. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.