Public Sector Pension Investment Board Raises Stake in Stride, Inc. (NYSE:LRN)

Public Sector Pension Investment Board boosted its stake in Stride, Inc. (NYSE:LRN) by 2.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 90,260 shares of the company’s stock after acquiring an additional 2,400 shares during the quarter. Public Sector Pension Investment Board’s holdings in Stride were worth $7,700,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LRN. Vaughan Nelson Investment Management L.P. purchased a new position in Stride in the 2nd quarter worth approximately $43,387,000. Congress Asset Management Co. purchased a new position in Stride in the 3rd quarter worth approximately $45,616,000. Victory Capital Management Inc. boosted its holdings in Stride by 1,443.6% in the 2nd quarter. Victory Capital Management Inc. now owns 479,941 shares of the company’s stock worth $33,836,000 after acquiring an additional 448,849 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Stride by 641.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 508,444 shares of the company’s stock worth $32,058,000 after acquiring an additional 439,911 shares during the period. Finally, William Blair Investment Management LLC boosted its holdings 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 worth $149,608,000 after acquiring an additional 355,614 shares during the period. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Stride Stock Performance

LRN stock opened at $106.87 on Friday. The company has a current ratio of 5.60, a quick ratio of 5.50 and a debt-to-equity ratio of 0.38. The firm has a market cap of $4.66 billion, a P/E ratio of 19.43, a P/E/G ratio of 0.80 and a beta of 0.27. Stride, Inc. has a 12-month low of $54.81 and a 12-month high of $108.48. The stock’s 50 day simple moving average is $88.69 and its 200 day simple moving average is $78.97.

Stride (NYSE:LRN) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.72. The business had revenue of $551.08 million for the quarter, compared to analyst estimates of $504.29 million. Stride had a return on equity of 21.23% and a net margin of 11.38%. The business’s revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.11 EPS. As a group, equities research analysts predict that Stride, Inc. will post 6.66 EPS for the current year.

Wall Street Analysts Forecast Growth

LRN has been the topic of a number of recent analyst reports. Canaccord Genuity Group upped their target price on Stride from $94.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Barrington Research upped their target price on Stride from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. StockNews.com lowered Stride from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. BMO Capital Markets upped their target price on Stride from $84.00 to $88.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Canaccord Genuity Group initiated coverage on Stride in a research report on Thursday, August 8th. They issued a “buy” rating and a $94.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $90.17.

Insider Buying and Selling at Stride

In other Stride news, Director Todd Goldthwaite sold 8,028 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $91.54, for a total value of $734,883.12. Following the sale, the director now directly owns 85,058 shares in the company, valued at approximately $7,786,209.32. This trade represents a 8.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.00% of the stock is currently owned by company insiders.

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.