Thrivent Financial for Lutherans Has $2.34 Million Stake in Stride, Inc. (NYSE:LRN)

Thrivent Financial for Lutherans reduced its position in shares of Stride, Inc. (NYSE:LRN) by 4.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,161 shares of the company’s stock after selling 1,364 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Stride were worth $2,338,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of LRN. Sei Investments Co. raised its position in Stride by 0.6% during the second quarter. Sei Investments Co. now owns 40,210 shares of the company’s stock valued at $2,834,000 after buying an additional 242 shares during the period. Kendall Capital Management increased its holdings in shares of Stride by 89.8% in the 2nd quarter. Kendall Capital Management now owns 14,820 shares of the company’s stock valued at $1,045,000 after purchasing an additional 7,010 shares during the period. Edgestream Partners L.P. acquired a new position in shares of Stride in the 2nd quarter valued at about $4,002,000. Inspire Advisors LLC lifted its position in shares of Stride by 59.3% in the second quarter. Inspire Advisors LLC now owns 6,671 shares of the company’s stock worth $470,000 after purchasing an additional 2,482 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Stride by 2.9% during the second quarter. Envestnet Asset Management Inc. now owns 149,068 shares of the company’s stock worth $10,509,000 after purchasing an additional 4,191 shares during the period. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Stride Stock Performance

LRN opened at $85.33 on Tuesday. The stock has a 50-day moving average of $79.86 and a 200-day moving average of $71.35. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.95 and a current ratio of 5.10. Stride, Inc. has a 52-week low of $43.77 and a 52-week high of $86.60. The company has a market cap of $3.69 billion, a PE ratio of 20.03, a price-to-earnings-growth ratio of 0.84 and a beta of 0.26.

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

Analysts Set New Price Targets

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