3,272 Shares in Stride, Inc. $LRN Purchased by R Squared Ltd

R Squared Ltd purchased a new position in Stride, Inc. (NYSE:LRN) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 3,272 shares of the company’s stock, valued at approximately $475,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LRN. GAMMA Investing LLC grew its position in Stride by 18.5% in the first quarter. GAMMA Investing LLC now owns 2,925 shares of the company’s stock worth $370,000 after acquiring an additional 457 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Stride during the first quarter valued at approximately $393,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of Stride during the first quarter valued at approximately $316,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Stride in the first quarter worth approximately $1,650,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of Stride in the first quarter worth approximately $660,000. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Stride Stock Up 0.1%

Shares of NYSE LRN opened at $152.17 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.27 and a current ratio of 5.39. The firm has a market capitalization of $6.64 billion, a price-to-earnings ratio of 25.28, a PEG ratio of 0.86 and a beta of 0.07. The stock has a 50 day moving average price of $152.52 and a 200 day moving average price of $146.22. Stride, Inc. has a 52-week low of $89.11 and a 52-week high of $171.17.

Stride (NYSE:LRN) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.46. The firm had revenue of $653.65 million during 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%.Stride’s quarterly revenue was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.42 earnings per share. Sell-side analysts expect that Stride, Inc. will post 6.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

LRN has been the subject of a number of research analyst reports. Wall Street Zen lowered Stride from a “buy” rating to a “hold” rating in a research note on Saturday, October 4th. Weiss Ratings reissued a “buy (b)” rating on shares of Stride in a research note on Wednesday, October 8th. Morgan Stanley raised their price target on Stride from $148.00 to $159.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th. Canaccord Genuity Group raised their price target on Stride from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Barrington Research reissued an “outperform” rating and set a $185.00 price target on shares of Stride in a research note on Tuesday, September 23rd. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Stride presently has an average rating of “Moderate Buy” and an average target price of $150.40.

Insider Activity

In related news, CEO James Jeaho Rhyu sold 13,961 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $114,895,378.98. The trade was a 1.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.00% of the company’s stock.

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.