Valley National Advisers Inc. Makes New $101,000 Investment in Stride, Inc. $LRN

Valley National Advisers Inc. bought a new position in Stride, Inc. (NYSE:LRN) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 700 shares of the company’s stock, valued at approximately $101,000.

Other institutional investors have also recently made changes to their positions in the company. Duncan Williams Asset Management LLC raised its holdings in shares of Stride by 41.4% in the second quarter. Duncan Williams Asset Management LLC now owns 6,242 shares of the company’s stock valued at $906,000 after acquiring an additional 1,829 shares in the last quarter. DAVENPORT & Co LLC raised its holdings in shares of Stride by 41.7% in the 2nd quarter. DAVENPORT & Co LLC now owns 5,164 shares of the company’s stock valued at $750,000 after purchasing an additional 1,519 shares in the last quarter. Simplicity Wealth LLC raised its holdings in shares of Stride by 63.1% in the 2nd quarter. Simplicity Wealth LLC now owns 3,246 shares of the company’s stock valued at $471,000 after purchasing an additional 1,256 shares in the last quarter. LGT Fund Management Co Ltd. lifted its position in shares of Stride by 29.5% in the 2nd quarter. LGT Fund Management Co Ltd. now owns 25,250 shares of the company’s stock worth $3,666,000 after purchasing an additional 5,750 shares during the period. Finally, 111 Capital bought a new position in shares of Stride during the second quarter valued at approximately $274,000. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Wall Street Zen downgraded shares of Stride from a “buy” rating to a “hold” rating in a research note on Saturday. Barrington Research reissued an “outperform” rating and issued a $185.00 price target on shares of Stride in a research report on Tuesday, September 23rd. Morgan Stanley raised their price objective on Stride from $148.00 to $159.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 6th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Stride in a research note on Saturday, September 27th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $146.40.

Insider Activity

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

Stride Stock Down 1.9%

Stride stock opened at $140.77 on Tuesday. Stride, Inc. has a 1-year low of $63.25 and a 1-year high of $171.17. The business has a fifty day moving average price of $151.47 and a 200-day moving average price of $144.59. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.39 and a quick ratio of 5.27. The stock has a market capitalization of $6.14 billion, a price-to-earnings ratio of 23.38, a PEG ratio of 0.81 and a beta of 0.07.

Stride (NYSE:LRN) last announced its earnings results on Tuesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.46. The company had revenue of $653.65 million for the quarter, compared to analyst estimates of $626.23 million. Stride had a return on equity of 25.51% and a net margin of 11.97%.The firm’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.42 EPS. Equities research analysts forecast that Stride, Inc. will post 6.67 EPS for the current fiscal year.

About Stride

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.