Tidal Investments LLC Acquires 3,374 Shares of Stride, Inc. (NYSE:LRN)

Tidal Investments LLC raised its holdings in Stride, Inc. (NYSE:LRN) by 64.0% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,642 shares of the company’s stock after acquiring an additional 3,374 shares during the quarter. Tidal Investments LLC’s holdings in Stride were worth $737,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Congress Asset Management Co. purchased a new stake in shares of Stride during the third quarter valued at $45,616,000. Victory Capital Management Inc. boosted its position in Stride by 1,443.6% in 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 during the period. William Blair Investment Management LLC grew its stake 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 acquiring an additional 355,614 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its position in shares of Stride by 51.1% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 929,855 shares of the company’s stock worth $79,326,000 after acquiring an additional 314,435 shares during the period. Finally, Loomis Sayles & Co. L P bought a new stake in shares of Stride during the third quarter valued at approximately $21,044,000. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Analyst Upgrades and Downgrades

LRN has been the topic of several research analyst reports. Canaccord Genuity Group increased their price objective on Stride from $94.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. BMO Capital Markets increased their price target on Stride from $84.00 to $88.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Morgan Stanley lifted their price objective on Stride from $94.00 to $109.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. StockNews.com cut shares of Stride from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, Barrington Research boosted their price target on shares of Stride from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $97.50.

Insider Activity

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

Stride Stock Performance

Shares of Stride stock opened at $105.21 on Friday. Stride, Inc. has a one year low of $54.81 and a one year high of $112.80. The company has a market capitalization of $4.59 billion, a PE ratio of 19.13, a P/E/G ratio of 0.80 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 company has a 50-day simple moving average of $97.19 and a two-hundred day simple moving average of $83.13.

Stride (NYSE:LRN) last posted its earnings results on Tuesday, October 22nd. The company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.72. The company had revenue of $551.08 million during the quarter, compared to analysts’ expectations of $504.29 million. Stride had a net margin of 11.38% and a return on equity of 21.23%. Stride’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.11 earnings per share. Research analysts expect 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.