Cerity Partners LLC Sells 10,431 Shares of Stride, Inc. (NYSE:LRN)

Cerity Partners LLC trimmed its stake in Stride, Inc. (NYSE:LRN) by 7.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 127,035 shares of the company’s stock after selling 10,431 shares during the period. Cerity Partners LLC owned approximately 0.29% of Stride worth $10,837,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Swedbank AB bought a new stake in Stride in the first quarter worth $60,385,000. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Stride in the second quarter valued at $43,387,000. Congress Asset Management Co. bought a new stake in shares of Stride in the 3rd quarter worth about $45,616,000. Victory Capital Management Inc. boosted its stake in shares of 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 period. Finally, Price T Rowe Associates Inc. MD grew its holdings 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 valued at $32,058,000 after purchasing an additional 439,911 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 $108.44 on Wednesday. The company has a current ratio of 5.60, a quick ratio of 5.50 and a debt-to-equity ratio of 0.38. The stock’s fifty day moving average price is $87.21 and its 200-day moving average price is $78.32. The firm has a market cap of $4.73 billion, a P/E ratio of 19.72, a P/E/G ratio of 0.78 and a beta of 0.27. Stride, Inc. has a 12 month low of $54.81 and a 12 month high of $108.48.

Stride (NYSE:LRN) last posted its earnings results on Tuesday, October 22nd. The company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $504.29 million. During the same quarter last year, the firm posted $0.11 EPS. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, equities research analysts expect that Stride, Inc. will post 6.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Stride news, Director Todd Goldthwaite sold 8,028 shares of the business’s 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 completion of the transaction, the director now directly owns 85,058 shares in the company, valued at approximately $7,786,209.32. The trade was a 8.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have issued reports on LRN. BMO Capital Markets raised their price objective on shares of Stride from $84.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Citigroup raised their price target on Stride from $90.00 to $94.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Canaccord Genuity Group assumed coverage on Stride in a research report on Thursday, August 8th. They issued a “buy” rating and a $94.00 price objective on the stock. Barrington Research lifted their target price on Stride from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, StockNews.com lowered shares of Stride from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $90.17.

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.