Farther Finance Advisors LLC Grows Stock Holdings in Stride, Inc. (NYSE:LRN)

Farther Finance Advisors LLC lifted its position in Stride, Inc. (NYSE:LRN) by 1,220.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,498 shares of the company’s stock after purchasing an additional 3,233 shares during the quarter. Farther Finance Advisors LLC’s holdings in Stride were worth $298,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Congress Asset Management Co. purchased a new position in shares of Stride in the third quarter worth about $45,616,000. Measured Wealth Private Client Group LLC increased its holdings in Stride by 6.6% during the 3rd quarter. Measured Wealth Private Client Group LLC now owns 5,074 shares of the company’s stock valued at $433,000 after purchasing an additional 315 shares during the period. New York State Teachers Retirement System raised its position in Stride by 1.6% during the 3rd quarter. New York State Teachers Retirement System now owns 22,523 shares of the company’s stock valued at $1,921,000 after purchasing an additional 344 shares during the last quarter. Trail Ridge Investment Advisors LLC bought a new stake in Stride in the third quarter valued at $396,000. Finally, State of Alaska Department of Revenue increased its position in Stride by 3.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 24,279 shares of the company’s stock valued at $2,071,000 after purchasing an additional 825 shares during the period. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Barrington Research raised their target price on Stride from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. BMO Capital Markets lifted their price target on shares of Stride from $84.00 to $88.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Canaccord Genuity Group started coverage on Stride in a research report on Thursday, August 8th. They issued a “buy” rating and a $94.00 price target on the stock. Canaccord Genuity Group raised their price objective on Stride from $94.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, StockNews.com downgraded Stride from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and five have assigned 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 $90.17.

Insider Buying and Selling

In other Stride news, Director Todd Goldthwaite sold 8,028 shares of the company’s stock in a transaction that occurred on 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 $7,786,209.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.76% of the stock is currently owned by insiders.

Stride Price Performance

NYSE LRN opened at $101.83 on Friday. The company has a quick ratio of 5.50, a current ratio of 5.60 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $4.44 billion, a P/E ratio of 18.51, a PEG ratio of 0.75 and a beta of 0.27. The company has a 50-day moving average price of $82.41 and a 200-day moving average price of $75.54. Stride, Inc. has a 52 week low of $54.81 and a 52 week high of $103.40.

Stride (NYSE:LRN) last released its 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 company had revenue of $551.08 million for the quarter, compared to the consensus estimate of $504.29 million. Stride had a return on equity of 21.23% and a net margin of 11.38%. Stride’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.11 earnings per share. Equities research analysts anticipate that Stride, Inc. will post 6.66 earnings per share 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.