Stride, Inc. $LRN Stock Holdings Increased by LGT Fund Management Co Ltd.

LGT Fund Management Co Ltd. raised its holdings in shares of Stride, Inc. (NYSE:LRN) by 29.5% during the 2nd quarter, Holdings Channel reports. The fund owned 25,250 shares of the company’s stock after purchasing an additional 5,750 shares during the period. LGT Fund Management Co Ltd.’s holdings in Stride were worth $3,666,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Rezny Wealth Management Inc. increased its position in shares of Stride by 0.6% during the 2nd quarter. Rezny Wealth Management Inc. now owns 14,152 shares of the company’s stock valued at $2,055,000 after purchasing an additional 83 shares during the period. Vident Advisory LLC increased its position in shares of Stride by 2.9% during the 1st quarter. Vident Advisory LLC now owns 2,941 shares of the company’s stock valued at $372,000 after purchasing an additional 84 shares during the period. Vestcor Inc increased its position in shares of Stride by 4.6% during the 1st quarter. Vestcor Inc now owns 2,328 shares of the company’s stock valued at $294,000 after purchasing an additional 102 shares during the period. Geneos Wealth Management Inc. increased its position in shares of Stride by 62.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the company’s stock valued at $43,000 after purchasing an additional 131 shares during the period. Finally, First Horizon Advisors Inc. increased its position in shares of Stride by 140.5% during the 1st quarter. First Horizon Advisors Inc. now owns 267 shares of the company’s stock valued at $34,000 after purchasing an additional 156 shares during the period. Institutional investors own 98.24% of the company’s stock.

Analysts Set New Price Targets

LRN has been the topic of a number of recent research reports. Weiss Ratings restated a “buy (b)” rating on shares of Stride in a report on Saturday, September 27th. Morgan Stanley lifted their target price on Stride from $148.00 to $159.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. Wall Street Zen cut Stride from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Barrington Research restated an “outperform” rating and issued a $185.00 target price on shares of Stride in a report on Tuesday, September 23rd. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $146.40.

Stride Stock Performance

Shares of Stride stock opened at $143.66 on Friday. The stock has a market cap of $6.27 billion, a PE ratio of 23.86, a price-to-earnings-growth ratio of 0.82 and a beta of 0.07. The business has a fifty day simple moving average of $151.23 and a 200-day simple moving average of $144.15. The company has a quick ratio of 5.27, a current ratio of 5.39 and a debt-to-equity ratio of 0.31. Stride, Inc. has a 12 month low of $63.25 and a 12 month high of $171.17.

Stride (NYSE:LRN) last issued its earnings results on Tuesday, August 5th. The company reported $2.29 EPS for the quarter, topping the consensus estimate of $1.83 by $0.46. The business had revenue of $653.65 million during the quarter, compared to analysts’ expectations of $626.23 million. Stride had a return on equity of 25.51% and a net margin of 11.97%.Stride’s revenue was up 22.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.42 earnings per share. On average, sell-side analysts anticipate that Stride, Inc. will post 6.67 EPS for the current fiscal year.

Insider Activity at Stride

In other news, CEO James Jeaho Rhyu sold 13,961 shares of the firm’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $162.66, for a total value of $2,270,896.26. Following the completion of the sale, the chief executive officer owned 706,353 shares of the company’s stock, valued at $114,895,378.98. This trade represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 3.00% of the stock is currently owned by company insiders.

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.