Cubist Systematic Strategies LLC Lowers Position in Stride, Inc. (NYSE:LRN)

Cubist Systematic Strategies LLC lowered its stake in shares of Stride, Inc. (NYSE:LRN) by 1.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 101,307 shares of the company’s stock after selling 1,086 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.23% of Stride worth $7,142,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in LRN. Nordea Investment Management AB raised its position in shares of Stride by 48.9% in the 1st quarter. Nordea Investment Management AB now owns 105,630 shares of the company’s stock worth $6,698,000 after buying an additional 34,682 shares during the period. Norges Bank purchased a new position in shares of Stride in the 4th quarter worth about $25,594,000. UniSuper Management Pty Ltd purchased a new position in shares of Stride in the 1st quarter worth about $555,000. Blue Trust Inc. lifted its stake in shares of Stride by 795.5% in the 2nd quarter. Blue Trust Inc. now owns 11,543 shares of the company’s stock valued at $814,000 after purchasing an additional 10,254 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Stride during the 1st quarter worth about $5,402,000. Institutional investors and hedge funds own 98.24% of the company’s stock.

Stride Stock Performance

Shares of LRN opened at $83.86 on Friday. The firm has a market cap of $3.63 billion, a price-to-earnings ratio of 19.69, a PEG ratio of 0.84 and a beta of 0.26. The company has a quick ratio of 4.95, a current ratio of 5.10 and a debt-to-equity ratio of 0.38. The business’s 50 day moving average is $79.28 and its two-hundred day moving average is $70.89. Stride, Inc. has a 52-week low of $43.77 and a 52-week high of $86.60.

Stride (NYSE:LRN) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.27 by $0.15. The business had revenue of $534.18 million for the quarter, compared to analysts’ expectations of $525.89 million. Stride had a net margin of 10.01% and a return on equity of 19.12%. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.01 earnings per share. Analysts forecast that Stride, Inc. will post 5.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Canaccord Genuity Group initiated coverage on shares of Stride in a report on Thursday, August 8th. They issued a “buy” rating and a $94.00 price target on the stock. Barrington Research reaffirmed an “outperform” rating and set a $90.00 price target on shares of Stride in a research report on Friday, September 20th. Citigroup lowered Stride from a “buy” rating to a “neutral” rating and raised their price objective for the company from $77.00 to $90.00 in a research report on Tuesday, August 20th. BMO Capital Markets upped their target price on Stride from $79.00 to $82.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Finally, StockNews.com upgraded Stride from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Stride presently has an average rating of “Moderate Buy” and a consensus price target of $85.83.

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.