Daiwa Securities Group Inc. Sells 155 Shares of Stride, Inc. (NYSE:LRN)

Daiwa Securities Group Inc. lowered its stake in Stride, Inc. (NYSE:LRN) by 13.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 975 shares of the company’s stock after selling 155 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Stride were worth $83,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in LRN. Vaughan Nelson Investment Management L.P. bought a new stake in Stride during the 2nd quarter worth approximately $43,387,000. Congress Asset Management Co. bought a new stake in shares of Stride during the 3rd quarter valued at $45,616,000. Victory Capital Management Inc. lifted 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 valued at $33,836,000 after buying an additional 448,849 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in Stride by 20.1% in the 2nd quarter. William Blair Investment Management LLC now owns 2,122,102 shares of the company’s stock worth $149,608,000 after buying an additional 355,614 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH bought a new position in Stride in the 2nd quarter worth $13,127,000. 98.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LRN has been the topic of several research analyst reports. Canaccord Genuity Group boosted 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. Barrington Research boosted their price target on Stride from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. 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 for the company. Citigroup lifted their price objective on shares of Stride from $90.00 to $94.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Finally, StockNews.com lowered shares of Stride from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $90.17.

Insiders Place Their Bets

In other news, Director Todd Goldthwaite sold 8,028 shares of Stride stock in a transaction on Friday, October 25th. The stock was sold at an average price of $91.54, for a total transaction of $734,883.12. Following the completion of the sale, the director now directly owns 85,058 shares in the company, valued at approximately $7,786,209.32. This trade represents a 8.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.00% of the stock is owned by insiders.

Stride Stock Down 0.2 %

NYSE LRN opened at $106.87 on Monday. The company has a market capitalization of $4.66 billion, a P/E ratio of 19.43, a P/E/G ratio of 0.80 and a beta of 0.27. The stock has a 50 day moving average price of $89.13 and a 200-day moving average price of $79.28. 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, Inc. has a one year low of $54.81 and a one year high of $108.48.

Stride (NYSE:LRN) last announced its earnings results on Tuesday, October 22nd. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.72. Stride had a return on equity of 21.23% and a net margin of 11.38%. The firm had revenue of $551.08 million during the quarter, compared to analysts’ expectations of $504.29 million. During the same quarter in the previous year, the business earned $0.11 EPS. The company’s quarterly revenue was up 14.8% on a year-over-year basis. As a group, equities analysts predict that Stride, Inc. will post 6.66 EPS for the current fiscal 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.