AlphaQuest LLC Purchases 2,133 Shares of Stride, Inc. $LRN

AlphaQuest LLC lifted its position in Stride, Inc. (NYSE:LRN) by 63.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,471 shares of the company’s stock after acquiring an additional 2,133 shares during the quarter. AlphaQuest LLC’s holdings in Stride were worth $794,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in LRN. Nuveen LLC bought a new stake in shares of Stride in the 1st quarter worth $38,835,000. Fiera Capital Corp bought a new position in Stride during the first quarter valued at about $29,526,000. Livforsakringsbolaget Skandia Omsesidigt grew its position in Stride by 657.1% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 174,900 shares of the company’s stock valued at $25,394,000 after buying an additional 151,800 shares during the period. Candriam S.C.A. grew its position in Stride by 214.2% during the first quarter. Candriam S.C.A. now owns 189,143 shares of the company’s stock valued at $23,927,000 after buying an additional 128,947 shares during the period. Finally, Cookson Peirce & Co. Inc. grew its position in Stride by 1,399.1% during the second quarter. Cookson Peirce & Co. Inc. now owns 97,338 shares of the company’s stock valued at $14,133,000 after buying an additional 90,845 shares during the period. Institutional investors own 98.24% of the company’s stock.

Insiders Place Their Bets

In other Stride news, CEO James Jeaho Rhyu sold 13,961 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $162.66, for a total transaction of $2,270,896.26. Following the completion of the transaction, the chief executive officer owned 706,353 shares in the company, valued at $114,895,378.98. This trade represents 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 available through this link. 3.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Barrington Research restated an “outperform” rating and set a $185.00 price target on shares of Stride in a research report on Tuesday, September 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Stride in a research report on Saturday. Wall Street Zen lowered shares of Stride from a “buy” rating to a “hold” rating in a research report on Saturday, October 4th. Morgan Stanley increased their price target on shares of Stride from $148.00 to $159.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 6th. Finally, Canaccord Genuity Group increased their price target on shares of Stride from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Friday. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $150.40.

Stride Price Performance

Shares of NYSE:LRN opened at $152.17 on Monday. The company has a quick ratio of 5.27, a current ratio of 5.39 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $6.64 billion, a PE ratio of 25.28, a P/E/G ratio of 0.86 and a beta of 0.07. Stride, Inc. has a twelve month low of $89.11 and a twelve month high of $171.17. The company has a 50-day moving average price of $152.52 and a two-hundred day moving average price of $146.46.

Stride (NYSE:LRN) last issued its earnings results on Tuesday, August 5th. The company reported $2.29 earnings per share for the quarter, topping 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 net margin of 11.97% and a return on equity of 25.51%. The company’s quarterly revenue was up 22.4% on a year-over-year basis. During the same quarter last year, the business earned $1.42 earnings per share. Equities analysts forecast that Stride, Inc. will post 6.67 EPS for the current year.

Stride Company Profile

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.