Driehaus Capital Management LLC Cuts Stock Holdings in Stride, Inc. (NYSE:LRN)

Driehaus Capital Management LLC lowered its position in shares of Stride, Inc. (NYSE:LRN) by 1.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 406,509 shares of the company’s stock after selling 4,401 shares during the quarter. Driehaus Capital Management LLC owned approximately 0.94% of Stride worth $28,659,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Motco acquired a new position in Stride in the 1st quarter valued at $74,000. EntryPoint Capital LLC acquired a new stake in shares of Stride in the first quarter valued at about $77,000. nVerses Capital LLC purchased a new position in shares of Stride in the second quarter worth about $78,000. GAMMA Investing LLC boosted its position in Stride by 25.9% during the first quarter. GAMMA Investing LLC now owns 1,372 shares of the company’s stock worth $87,000 after acquiring an additional 282 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its position in Stride by 38.0% during the first quarter. Advisors Asset Management Inc. now owns 2,740 shares of the company’s stock worth $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.

Stride Stock Performance

Shares of Stride stock opened at $83.95 on Friday. The firm has a market cap of $3.63 billion, a PE ratio of 19.71, a price-to-earnings-growth 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. Stride, Inc. has a 52 week low of $43.77 and a 52 week high of $86.60. The business’s fifty day simple moving average is $79.56 and its 200-day simple moving average is $71.12.

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Barrington Research reiterated an “outperform” rating and issued a $90.00 price objective on shares of Stride in a report on Friday, September 20th. Canaccord Genuity Group initiated coverage on Stride in a research report on Thursday, August 8th. They set a “buy” rating and a $94.00 price objective on the stock. BMO Capital Markets upped their target price on Stride from $79.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Citigroup lowered Stride from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $77.00 to $90.00 in a report on Tuesday, August 20th. Finally, Canaccord Genuity Group assumed coverage on shares of Stride in a report on Thursday, August 8th. They issued a “buy” rating and a $94.00 price objective for the company. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Stride has an average rating of “Moderate Buy” and an average price target of $85.83.

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.