Stride, Inc. (NYSE:LRN) Shares Sold by abrdn plc

abrdn plc trimmed its holdings in Stride, Inc. (NYSE:LRN) by 36.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 343,237 shares of the company’s stock after selling 198,000 shares during the quarter. abrdn plc owned about 0.79% of Stride worth $20,378,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ronald Blue Trust Inc. lifted its stake in Stride by 348.1% in the third quarter. Ronald Blue Trust Inc. now owns 578 shares of the company’s stock valued at $26,000 after buying an additional 449 shares during the last quarter. McGlone Suttner Wealth Management Inc. purchased a new stake in Stride in the fourth quarter valued at approximately $29,000. McIlrath & Eck LLC purchased a new stake in Stride in the third quarter valued at approximately $31,000. Strs Ohio purchased a new stake in Stride in the fourth quarter valued at approximately $47,000. Finally, Nisa Investment Advisors LLC raised its stake in shares of Stride by 156.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,310 shares of the company’s stock worth $78,000 after purchasing an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Stride Trading Up 0.2 %

NYSE:LRN opened at $58.20 on Wednesday. The stock has a fifty day moving average price of $60.31 and a two-hundred day moving average price of $58.16. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of 14.70, a PEG ratio of 0.67 and a beta of 0.26. The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.44 and a current ratio of 4.52. Stride, Inc. has a 1 year low of $35.61 and a 1 year high of $69.70.

Stride (NYSE:LRN) last released its quarterly earnings data on Tuesday, January 23rd. The company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.23. The firm had revenue of $504.87 million during the quarter, compared to analysts’ expectations of $498.05 million. Stride had a return on equity of 17.77% and a net margin of 8.80%. Stride’s revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.19 earnings per share. As a group, sell-side analysts anticipate that Stride, Inc. will post 4.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

LRN has been the subject of several analyst reports. StockNews.com upgraded Stride from a “hold” rating to a “buy” rating in a research note on Tuesday, April 2nd. Barrington Research restated an “outperform” rating and set a $75.00 price target on shares of Stride in a research note on Wednesday, April 17th. Morgan Stanley upped their price target on Stride from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. Wedbush restated an “outperform” rating on shares of Stride in a research note on Wednesday, January 24th. Finally, BMO Capital Markets upped their price target on Stride from $71.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $71.75.

About Stride

Stride, Inc, a technology-based education service company, provides proprietary and third-party online curriculum, software systems, and educational services to facilitate individualized learning for students primarily in kindergarten through 12th grade (K-12) in the United States and internationally.