Pinnacle Wealth Management LLC Purchases 5,875 Shares of Stride, Inc. $LRN

Pinnacle Wealth Management LLC lifted its position in shares of Stride, Inc. (NYSE:LRN) by 115.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,963 shares of the company’s stock after buying an additional 5,875 shares during the quarter. Pinnacle Wealth Management LLC’s holdings in Stride were worth $1,592,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Larson Financial Group LLC grew its position in shares of Stride by 333.3% during the 1st quarter. Larson Financial Group LLC now owns 208 shares of the company’s stock worth $26,000 after buying an additional 160 shares in the last quarter. First Horizon Advisors Inc. grew its position in shares of Stride by 140.5% during the 1st quarter. First Horizon Advisors Inc. now owns 267 shares of the company’s stock worth $34,000 after buying an additional 156 shares in the last quarter. Harbour Investments Inc. grew its position in shares of Stride by 374.6% during the 1st quarter. Harbour Investments Inc. now owns 337 shares of the company’s stock worth $43,000 after buying an additional 266 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Stride during the 1st quarter worth $43,000. Finally, Geneos Wealth Management Inc. grew its position in shares of Stride by 62.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the company’s stock worth $43,000 after buying an additional 131 shares in the last quarter. Institutional investors own 98.24% of the company’s stock.

Stride Price Performance

Shares of LRN stock opened at $145.00 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.39 and a quick ratio of 5.27. The company has a market cap of $6.33 billion, a P/E ratio of 24.09, a PEG ratio of 0.82 and a beta of 0.07. The stock’s 50-day moving average is $153.11 and its 200 day moving average is $145.51. Stride, Inc. has a 1-year low of $63.36 and a 1-year high of $171.17.

Stride (NYSE:LRN) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.46. The business had revenue of $653.65 million during the quarter, compared to the consensus estimate of $626.23 million. Stride had a return on equity of 25.51% and a net margin of 11.97%.The company’s quarterly revenue was up 22.4% on a year-over-year basis. During the same quarter last year, the company earned $1.42 earnings per share. Research analysts predict that Stride, Inc. will post 6.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on LRN shares. Weiss Ratings reissued a “buy (b)” rating on shares of Stride in a research report on Wednesday, October 8th. Wall Street Zen downgraded Stride from a “buy” rating to a “hold” rating in a research report on Saturday, October 4th. Morgan Stanley raised their price objective on Stride from $148.00 to $159.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 6th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $185.00 price objective on shares of Stride in a research report on Tuesday, September 23rd. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Stride has an average rating of “Moderate Buy” and a consensus price target of $146.40.

Insiders Place Their Bets

In other Stride news, CEO James Jeaho Rhyu sold 13,961 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $162.66, for a total value of $2,270,896.26. Following the completion of the sale, the chief executive officer owned 706,353 shares of the company’s stock, valued at approximately $114,895,378.98. This trade represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.00% of the company’s stock.

Stride 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.