Blair William & Co. IL Sells 5,518 Shares of Stride, Inc. $LRN

Blair William & Co. IL reduced its stake in shares of Stride, Inc. (NYSE:LRN) by 9.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,424 shares of the company’s stock after selling 5,518 shares during the quarter. Blair William & Co. IL’s holdings in Stride were worth $7,466,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Vontobel Holding Ltd. acquired a new position in Stride in the second quarter valued at approximately $297,000. Maryland State Retirement & Pension System lifted its holdings in Stride by 0.9% in the second quarter. Maryland State Retirement & Pension System now owns 12,614 shares of the company’s stock valued at $1,831,000 after buying an additional 109 shares during the period. KLP Kapitalforvaltning AS lifted its holdings in Stride by 10.8% in the second quarter. KLP Kapitalforvaltning AS now owns 15,400 shares of the company’s stock valued at $2,236,000 after buying an additional 1,500 shares during the period. SteelPeak Wealth LLC acquired a new position in Stride in the second quarter valued at approximately $1,464,000. Finally, Belpointe Asset Management LLC lifted its holdings in Stride by 17.0% in the second quarter. Belpointe Asset Management LLC now owns 4,160 shares of the company’s stock valued at $604,000 after buying an additional 604 shares during the period. 98.24% of the stock is owned by institutional investors.

Stride Price Performance

Shares of Stride stock opened at $144.62 on Friday. Stride, Inc. has a twelve month low of $63.25 and a twelve month high of $171.17. 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 company has a 50-day simple moving average of $152.65 and a two-hundred day simple moving average of $144.94. The stock has a market capitalization of $6.31 billion, a price-to-earnings ratio of 24.02, a price-to-earnings-growth ratio of 0.82 and a beta of 0.07.

Stride (NYSE:LRN) last issued its earnings results on Tuesday, August 5th. The company reported $2.29 EPS for the quarter, beating the consensus estimate of $1.83 by $0.46. The company had revenue of $653.65 million during the quarter, compared to analysts’ expectations of $626.23 million. Stride had a net margin of 11.97% and a return on equity of 25.51%. The business’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.42 EPS. Analysts forecast that Stride, Inc. will post 6.67 EPS for the current year.

Insiders Place Their Bets

In other news, CEO James Jeaho Rhyu sold 13,961 shares of the company’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $162.66, for a total value of $2,270,896.26. Following the sale, the chief executive officer directly owned 706,353 shares of the company’s stock, valued at approximately $114,895,378.98. This represents a 1.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 3.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on LRN shares. Morgan Stanley increased their target price on shares of Stride from $148.00 to $159.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. Wall Street Zen lowered shares of Stride from a “buy” rating to a “hold” rating in a report on Saturday, October 4th. Barrington Research reiterated an “outperform” rating and issued a $185.00 target price on shares of Stride in a report on Tuesday, September 23rd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Stride in a report on Wednesday. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $146.40.

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.