Stride (NYSE:LRN) Sets New 12-Month High – Here’s What Happened

Stride, Inc. (NYSE:LRN)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $104.14 and last traded at $103.89, with a volume of 21551 shares. The stock had previously closed at $102.80.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on LRN shares. Canaccord Genuity Group started coverage on shares of Stride in a research report on Thursday, August 8th. They issued a “buy” rating and a $94.00 price target for the company. Citigroup upped their price objective on shares of Stride from $90.00 to $94.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Canaccord Genuity Group upped their price objective on shares of Stride from $94.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. StockNews.com cut shares of Stride from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Finally, BMO Capital Markets upped their price objective on shares of Stride from $84.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $90.17.

Stride Trading Up 1.3 %

The stock has a market capitalization of $4.54 billion, a P/E ratio of 18.69, a PEG ratio of 0.76 and a beta of 0.27. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.60 and a quick ratio of 5.50. The business’s 50 day simple moving average is $85.87 and its 200-day simple moving average is $77.59.

Stride (NYSE:LRN) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.72. Stride had a net margin of 11.38% and a return on equity of 21.23%. The business had revenue of $551.08 million during the quarter, compared to analysts’ expectations of $504.29 million. During the same quarter in the prior year, the company earned $0.11 EPS. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. As a group, analysts forecast that Stride, Inc. will post 6.66 EPS for the current year.

Insider Activity at Stride

In other Stride news, Director Todd Goldthwaite sold 8,028 shares of the stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $91.54, for a total transaction of $734,883.12. Following the completion of the transaction, the director now owns 85,058 shares in the company, valued at approximately $7,786,209.32. This represents a 8.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Stride

Hedge funds have recently modified their holdings of the stock. William Blair Investment Management LLC lifted 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 valued at $149,608,000 after purchasing an additional 355,614 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Stride by 1.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,170,434 shares of the company’s stock valued at $99,851,000 after purchasing an additional 13,050 shares during the last quarter. Geode Capital Management LLC lifted its stake in Stride by 3.8% in the 3rd quarter. Geode Capital Management LLC now owns 964,701 shares of the company’s stock valued at $82,315,000 after purchasing an additional 35,349 shares during the last quarter. Swedbank AB acquired a new stake in Stride in the 1st quarter valued at about $60,385,000. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in Stride by 51.1% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 929,855 shares of the company’s stock valued at $79,326,000 after purchasing an additional 314,435 shares during the last quarter. Institutional investors own 98.24% 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.