Stride, Inc. (NYSE:LRN) Shares Sold by Algert Global LLC

Algert Global LLC lessened its stake in Stride, Inc. (NYSE:LRN) by 31.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 22,388 shares of the company’s stock after selling 10,290 shares during the period. Algert Global LLC owned about 0.05% of Stride worth $1,910,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in shares of Stride by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 518,821 shares of the company’s stock valued at $44,261,000 after buying an additional 16,114 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new position in Stride in the 3rd quarter valued at about $3,576,000. Intech Investment Management LLC purchased a new stake in Stride during the third quarter worth about $1,067,000. Aurora Investment Counsel acquired a new stake in shares of Stride during the third quarter worth about $2,019,000. Finally, Moran Wealth Management LLC boosted its stake in shares of Stride by 25.0% in the third quarter. Moran Wealth Management LLC now owns 8,635 shares of the company’s stock valued at $737,000 after purchasing an additional 1,728 shares during the period. 98.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Activity at Stride

In other news, Director Todd Goldthwaite sold 8,028 shares of Stride stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $91.54, for a total transaction of $734,883.12. Following the sale, the director now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.00% of the stock is owned by corporate insiders.

Stride Price Performance

Shares of NYSE LRN opened at $107.04 on Thursday. The stock’s 50-day simple moving average is $87.74 and its 200-day simple moving average is $78.58. The firm has a market capitalization of $4.67 billion, a PE ratio of 19.46, a price-to-earnings-growth ratio of 0.80 and a beta of 0.27. Stride, Inc. has a fifty-two week low of $54.81 and a fifty-two week high of $108.48. The company has a debt-to-equity ratio of 0.38, a quick ratio of 5.50 and a current ratio of 5.60.

Stride (NYSE:LRN) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $0.94 earnings per share for the quarter, topping 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 company had revenue of $551.08 million for the quarter, compared to analysts’ expectations of $504.29 million. During the same quarter last year, the company earned $0.11 earnings per share. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. As a group, equities research analysts forecast that Stride, Inc. will post 6.66 EPS for the current fiscal year.

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.