Crossmark Global Holdings Inc. Raises Position in Stride, Inc. (NYSE:LRN)

Crossmark Global Holdings Inc. increased its holdings in shares of Stride, Inc. (NYSE:LRN) by 3.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,213 shares of the company’s stock after buying an additional 121 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Stride were worth $274,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in LRN. Swedbank AB purchased a new stake in shares of Stride during the first quarter worth about $60,385,000. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Stride in the 2nd quarter valued at approximately $43,387,000. Congress Asset Management Co. acquired a new stake in Stride in the 3rd quarter worth approximately $45,616,000. Victory Capital Management Inc. grew its position in Stride by 1,443.6% during the 2nd quarter. Victory Capital Management Inc. now owns 479,941 shares of the company’s stock worth $33,836,000 after purchasing an additional 448,849 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Stride by 641.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 508,444 shares of the company’s stock worth $32,058,000 after purchasing an additional 439,911 shares during the last quarter. 98.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on LRN shares. Canaccord Genuity Group raised their price target on shares of Stride from $94.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. BMO Capital Markets raised their target price on Stride from $84.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Barrington Research boosted their price target on Stride from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Citigroup raised their price objective on Stride from $90.00 to $94.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Finally, StockNews.com downgraded Stride from a “buy” rating to a “hold” 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 company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $90.17.

Insider Activity

In other 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 value of $734,883.12. Following the sale, the director now owns 85,058 shares in the company, valued at $7,786,209.32. This trade represents a 8.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.00% of the company’s stock.

Stride Stock Up 0.7 %

Shares of LRN stock opened at $100.33 on Monday. Stride, Inc. has a twelve month low of $54.81 and a twelve month high of $103.98. The stock has a market cap of $4.37 billion, a P/E ratio of 18.24, a P/E/G ratio of 0.75 and a beta of 0.27. The stock has a 50 day moving average of $84.43 and a 200 day moving average of $76.95. The company has a current ratio of 5.60, a quick ratio of 5.50 and a debt-to-equity ratio of 0.38.

Stride (NYSE:LRN) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.72. The firm had revenue of $551.08 million during the quarter, compared to analyst estimates of $504.29 million. Stride had a return on equity of 21.23% and a net margin of 11.38%. Stride’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.11 EPS. As a group, sell-side analysts expect that Stride, Inc. will post 6.66 EPS for the current year.

About Stride

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.