Stride, Inc. (NYSE:LRN) Shares Sold by XTX Topco Ltd

XTX Topco Ltd lessened its holdings in shares of Stride, Inc. (NYSE:LRN) by 32.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,845 shares of the company’s stock after selling 1,394 shares during the quarter. XTX Topco Ltd’s holdings in Stride were worth $201,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LRN. Norges Bank acquired a new position in shares of Stride during the 4th quarter valued at $25,594,000. CenterBook Partners LP boosted its position in shares of Stride by 23.6% in the fourth quarter. CenterBook Partners LP now owns 11,665 shares of the company’s stock worth $693,000 after buying an additional 2,226 shares during the period. Cat Rock Capital Management LP acquired a new stake in shares of Stride in the fourth quarter valued at about $2,078,000. Cim LLC purchased a new stake in shares of Stride during the 4th quarter valued at about $213,000. Finally, GAMMA Investing LLC lifted its position in Stride by 25.9% during the 1st quarter. GAMMA Investing LLC now owns 1,372 shares of the company’s stock worth $87,000 after acquiring an additional 282 shares in the last quarter. 98.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LRN has been the subject of several recent research reports. Canaccord Genuity Group assumed coverage on shares of Stride in a research report on Thursday, August 8th. They issued a “buy” rating and a $94.00 price objective for the company. Barrington Research reiterated an “outperform” rating and issued a $90.00 price objective on shares of Stride in a report on Friday, September 20th. BMO Capital Markets raised their target price on Stride from $79.00 to $82.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Canaccord Genuity Group initiated coverage on Stride in a research note on Thursday, August 8th. They issued a “buy” rating and a $94.00 price target on the stock. Finally, StockNews.com upgraded Stride from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.83.

Stride Stock Performance

Stride stock opened at $83.95 on Monday. 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 $86.60. The company has a fifty day moving average price of $79.56 and a two-hundred day moving average price of $71.18. The company has a market cap of $3.63 billion, a PE ratio of 19.71, a P/E/G ratio of 0.84 and a beta of 0.26.

Stride (NYSE:LRN) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $1.42 earnings per share 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 business had revenue of $534.18 million during the quarter, compared to the consensus estimate of $525.89 million. During the same quarter in the prior year, the firm earned $1.01 EPS. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. Research analysts expect that Stride, Inc. will post 5.05 earnings per share for the current year.

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.