Glenmede Trust Co. NA Boosts Stock Position in Stride, Inc. (NYSE:LRN)

Glenmede Trust Co. NA grew its holdings in shares of Stride, Inc. (NYSE:LRN) by 3.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,990 shares of the company’s stock after buying an additional 910 shares during the period. Glenmede Trust Co. NA owned 0.06% of Stride worth $2,217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in LRN. DekaBank Deutsche Girozentrale purchased a new stake in Stride during the first quarter worth approximately $5,402,000. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Stride by 4.7% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 28,900 shares of the company’s stock worth $2,037,000 after buying an additional 1,300 shares during the last quarter. Artemis Investment Management LLP acquired a new position in shares of Stride in the 2nd quarter valued at $289,000. Blue Trust Inc. raised its stake in Stride by 795.5% during the 2nd quarter. Blue Trust Inc. now owns 11,543 shares of the company’s stock worth $814,000 after acquiring an additional 10,254 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. purchased a new stake in Stride in the second quarter valued at $43,387,000. 98.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Canaccord Genuity Group raised their price objective on Stride from $94.00 to $100.00 and gave the stock a “buy” rating in a 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. Barrington Research increased their price objective on Stride from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Canaccord Genuity Group assumed coverage on shares of Stride in a report on Thursday, August 8th. They issued a “buy” rating and a $94.00 target price on the stock. Finally, Citigroup increased their price target 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. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $90.17.

Stride Stock Performance

NYSE:LRN opened at $106.87 on Friday. 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 firm has a market cap of $4.66 billion, a price-to-earnings ratio of 19.43, a price-to-earnings-growth ratio of 0.80 and a beta of 0.27. The firm’s fifty day moving average price is $89.13 and its 200 day moving average price is $79.22. Stride, Inc. has a 1-year low of $54.81 and a 1-year high of $108.48.

Stride (NYSE:LRN) last issued its earnings results on Tuesday, October 22nd. The company reported $0.94 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $504.29 million. During the same quarter in the previous year, the firm earned $0.11 earnings per share. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. On average, sell-side analysts expect that Stride, Inc. will post 6.66 EPS for the current year.

Insider Buying and Selling at Stride

In other news, Director Todd Goldthwaite sold 8,028 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 85,058 shares of the company’s stock, valued at $7,786,209.32. This trade represents a 8.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.00% of the stock is owned by corporate 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.