Blair William & Co. IL Trims Stock Holdings in Stride, Inc. (NYSE:LRN)

Blair William & Co. IL cut its holdings in shares of Stride, Inc. (NYSE:LRN) by 0.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 76,931 shares of the company’s stock after selling 580 shares during the quarter. Blair William & Co. IL’s holdings in Stride were worth $5,424,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. William Blair Investment Management LLC bought a new stake in shares of Stride in the first quarter worth $111,377,000. Swedbank AB bought a new stake in shares of Stride in the 1st quarter worth about $60,385,000. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Stride in the 2nd quarter valued at about $43,387,000. Victory Capital Management Inc. lifted its position in shares of Stride by 1,443.6% during the second 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 stake in Stride by 641.9% in the first 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 in the last quarter. 98.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on LRN. Canaccord Genuity Group started coverage on Stride in a research note on Thursday, August 8th. They set a “buy” rating and a $94.00 price objective on the stock. StockNews.com raised Stride from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Barrington Research restated an “outperform” rating and set a $90.00 price objective on shares of Stride in a research note on Friday. Canaccord Genuity Group began coverage on shares of Stride in a research note on Thursday, August 8th. They set a “buy” rating and a $94.00 target price for the company. Finally, BMO Capital Markets increased their target price on shares of Stride from $79.00 to $82.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $85.83.

Stride Trading Up 0.9 %

NYSE:LRN opened at $85.03 on Friday. The firm has a market capitalization of $3.68 billion, a P/E ratio of 19.96, a P/E/G ratio of 0.77 and a beta of 0.26. The business has a 50 day simple moving average of $78.21 and a 200 day simple moving average of $70.30. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.10 and a quick ratio of 4.95. Stride, Inc. has a 12-month low of $43.77 and a 12-month high of $86.06.

Stride (NYSE:LRN) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $525.89 million. During the same quarter in the previous year, the company posted $1.01 earnings per share. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. Equities research analysts predict that Stride, Inc. will post 5.05 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.