Rockefeller Capital Management L.P. Boosts Stake in Stride, Inc. (NYSE:LRN)

Rockefeller Capital Management L.P. raised its position in Stride, Inc. (NYSE:LRN) by 0.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 753,728 shares of the company’s stock after purchasing an additional 5,278 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Stride were worth $64,286,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Crossmark Global Holdings Inc. boosted its position in shares of Stride by 3.9% in the third quarter. Crossmark Global Holdings Inc. now owns 3,213 shares of the company’s stock worth $274,000 after buying an additional 121 shares during the period. SummerHaven Investment Management LLC grew its position in Stride by 1.1% in the second quarter. SummerHaven Investment Management LLC now owns 20,454 shares of the company’s stock valued at $1,442,000 after acquiring an additional 217 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Stride by 1.9% during the second quarter. Arizona State Retirement System now owns 11,536 shares of the company’s stock valued at $813,000 after purchasing an additional 220 shares during the period. Isthmus Partners LLC lifted its position in shares of Stride by 4.8% during the second quarter. Isthmus Partners LLC now owns 4,814 shares of the company’s stock worth $339,000 after purchasing an additional 222 shares in the last quarter. Finally, Amalgamated Bank grew its holdings in Stride by 1.9% during the 3rd quarter. Amalgamated Bank now owns 12,528 shares of the company’s stock worth $1,069,000 after acquiring an additional 235 shares in the last quarter. 98.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LRN. Canaccord Genuity Group started coverage on shares of Stride in a research report on Thursday, August 8th. They set a “buy” rating and a $94.00 price target on the stock. BMO Capital Markets lifted their target price on Stride from $84.00 to $88.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Canaccord Genuity Group boosted 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. Barrington Research raised their price objective on Stride from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Finally, StockNews.com cut shares of Stride from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $90.17.

Insider Buying and Selling

In related news, Director Todd Goldthwaite sold 8,028 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $91.54, for a total value of $734,883.12. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.00% of the company’s stock.

Stride Stock Performance

LRN stock opened at $106.87 on Friday. The stock’s fifty day moving average is $88.69 and its two-hundred day moving average is $78.97. The stock has a market capitalization of $4.66 billion, a price-to-earnings ratio of 19.43, a PEG ratio of 0.80 and a beta of 0.27. 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 1 year low of $54.81 and a 1 year high of $108.48.

Stride (NYSE:LRN) last posted its earnings results on Tuesday, October 22nd. The company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.22 by $0.72. The firm 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 quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.11 EPS. On average, research analysts predict that Stride, Inc. will post 6.66 EPS 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.