Verition Fund Management LLC Sells 9,428 Shares of Stride, Inc. (NYSE:LRN)

Verition Fund Management LLC lowered its position in Stride, Inc. (NYSE:LRN) by 50.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,094 shares of the company’s stock after selling 9,428 shares during the period. Verition Fund Management LLC’s holdings in Stride were worth $776,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Mendota Financial Group LLC bought a new position in shares of Stride in the 3rd quarter worth about $86,000. nVerses Capital LLC purchased a new stake in Stride in the second quarter worth about $78,000. GAMMA Investing LLC increased its stake in shares of Stride by 45.3% during the third quarter. GAMMA Investing LLC now owns 2,061 shares of the company’s stock valued at $176,000 after purchasing an additional 643 shares in the last quarter. Central Pacific Bank Trust Division lifted its holdings in shares of Stride by 24.2% during the third quarter. Central Pacific Bank Trust Division now owns 2,153 shares of the company’s stock valued at $184,000 after purchasing an additional 420 shares during the last quarter. Finally, Retirement Guys Formula LLC bought a new stake in shares of Stride in the 3rd quarter worth approximately $203,000. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Insider Transactions at Stride

In other news, Director Todd Goldthwaite sold 8,028 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $91.54, for a total value of $734,883.12. Following the transaction, the director now owns 85,058 shares of the company’s stock, valued at $7,786,209.32. This trade represents a 8.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

LRN has been the topic of several analyst reports. Barrington Research boosted their target price on Stride from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. StockNews.com downgraded shares of Stride from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Citigroup lifted their target price on Stride from $90.00 to $94.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Canaccord Genuity Group upped their price target on Stride from $94.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, BMO Capital Markets lifted their price objective on Stride from $84.00 to $88.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Three investment 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $90.17.

Stride Stock Down 2.4 %

LRN stock opened at $107.84 on Tuesday. The company has a market cap of $4.70 billion, a price-to-earnings ratio of 19.61, a P/E/G ratio of 0.83 and a beta of 0.30. The company has a debt-to-equity ratio of 0.38, a quick ratio of 5.50 and a current ratio of 5.60. The business’s 50-day moving average is $92.11 and its two-hundred day moving average is $80.99. Stride, Inc. has a fifty-two week low of $54.81 and a fifty-two week high of $112.80.

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