10,085 Shares in Stride, Inc. $LRN Bought by SteelPeak Wealth LLC

Key Points

• SteelPeak Wealth LLC has acquired 10,085 shares of Stride, Inc. valued at approximately $1,464,000, reflecting ongoing institutional interest in the company.
• Stride reported $2.29 EPS for the most recent quarter, exceeding analysts' expectations of $1.83, with revenue increasing by 22.4% year-over-year.
• Several analysts have varied ratings on Stride, with five having a "Buy" rating and two a "Hold" rating, indicating a generally positive outlook amidst a current price target of $146.40.

SteelPeak Wealth LLC purchased a new position in Stride, Inc. (NYSE:LRN - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,085 shares of the company's stock, valued at approximately $1,464,000.

Other large investors also recently bought and sold shares of the company. Larson Financial Group LLC increased its position in Stride by 333.3% in the first quarter. Larson Financial Group LLC now owns 208 shares of the company's stock worth $26,000 after purchasing an additional 160 shares during the last quarter. First Horizon Advisors Inc. increased its position in Stride by 140.5% in the first quarter. First Horizon Advisors Inc. now owns 267 shares of the company's stock worth $34,000 after purchasing an additional 156 shares during the last quarter. Harbour Investments Inc. increased its position in Stride by 374.6% in the first quarter. Harbour Investments Inc. now owns 337 shares of the company's stock worth $43,000 after purchasing an additional 266 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Stride in the first quarter worth $43,000. Finally, Geneos Wealth Management Inc. increased its position in Stride by 62.7% in the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the company's stock worth $43,000 after purchasing an additional 131 shares during the last quarter. Institutional investors own 98.24% of the company's stock.

Stride Trading Down 0.4%

NYSE LRN opened at $140.07 on Wednesday. The company's 50-day moving average price is $151.70 and its 200-day moving average price is $144.56. The company has a current ratio of 5.39, a quick ratio of 5.27 and a debt-to-equity ratio of 0.31. The stock has a market cap of $6.11 billion, a PE ratio of 23.27, a PEG ratio of 0.80 and a beta of 0.07. Stride, Inc. has a 12 month low of $63.25 and a 12 month high of $171.17.

Stride (NYSE:LRN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $2.29 EPS for the quarter, topping analysts' consensus estimates of $1.83 by $0.46. The firm had revenue of $653.65 million for 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% on a year-over-year basis. During the same period in the prior year, the business posted $1.42 earnings per share. Equities research analysts forecast that Stride, Inc. will post 6.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Wall Street Zen cut shares of Stride from a "buy" rating to a "hold" rating in a research report on Saturday. Weiss Ratings reiterated a "buy (b)" rating on shares of Stride in a research report on Saturday, September 27th. Morgan Stanley boosted their price objective 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, Barrington Research reiterated an "outperform" rating and set a $185.00 price objective on shares of Stride in a research report on Tuesday, September 23rd. Five analysts have rated the stock with a Buy rating and two have given 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 $146.40.

Insider Activity at Stride

In other news, CEO James Jeaho Rhyu sold 13,961 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer directly owned 706,353 shares in the company, valued at approximately $114,895,378.98. This represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 3.00% of the company's stock.

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.

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