2,995 Shares in Stride, Inc. $LRN Bought by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC has acquired 2,995 shares of Stride, Inc. for approximately $435,000, indicating confidence in the company's growth potential.
• Stride reported a 22.4% year-over-year revenue growth for the quarter, reaching $653.65 million while beating earnings estimates with $2.29 per share.
• Analysts have mixed ratings on Stride, with a consensus rating of "Moderate Buy" and a price target of $146.40 according to MarketBeat.

Janney Montgomery Scott LLC purchased a new position in shares of Stride, Inc. (NYSE:LRN - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,995 shares of the company's stock, valued at approximately $435,000.

Several other hedge funds also recently made changes to their positions in the company. Swedbank AB lifted its stake in shares of Stride by 5.4% in the 1st quarter. Swedbank AB now owns 1,009,726 shares of the company's stock worth $127,730,000 after acquiring an additional 52,000 shares during the period. Deutsche Bank AG lifted its stake in shares of Stride by 10.4% in the 1st quarter. Deutsche Bank AG now owns 617,894 shares of the company's stock worth $78,164,000 after acquiring an additional 58,029 shares during the period. Driehaus Capital Management LLC lifted its stake in shares of Stride by 12.3% in the 1st quarter. Driehaus Capital Management LLC now owns 613,820 shares of the company's stock worth $77,648,000 after acquiring an additional 67,184 shares during the period. Northern Trust Corp lifted its stake in shares of Stride by 1.3% in the 1st quarter. Northern Trust Corp now owns 467,774 shares of the company's stock worth $59,173,000 after acquiring an additional 5,820 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of Stride in the 1st quarter worth $38,835,000. Institutional investors and hedge funds own 98.24% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on LRN shares. Weiss Ratings restated a "buy (b)" rating on shares of Stride in a research note on Wednesday, October 8th. Wall Street Zen cut shares of Stride from a "buy" rating to a "hold" rating in a research note on Saturday, October 4th. Morgan Stanley raised their price objective on shares of Stride from $148.00 to $159.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Finally, Barrington Research reiterated an "outperform" rating and issued a $185.00 price objective on shares of Stride in a research note on Tuesday, September 23rd. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $146.40.

Insider Activity at Stride

In other news, CEO James Jeaho Rhyu sold 13,961 shares of Stride 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 sale, the chief executive officer directly owned 706,353 shares in the company, valued at $114,895,378.98. The trade was a 1.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.00% of the stock is currently owned by company insiders.

Stride Stock Performance

NYSE:LRN opened at $145.00 on Friday. 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 firm has a 50-day moving average price of $153.11 and a two-hundred day moving average price of $145.41. Stride, Inc. has a twelve month low of $63.36 and a twelve month high of $171.17. The company has a market capitalization of $6.33 billion, a P/E ratio of 24.09, a price-to-earnings-growth ratio of 0.80 and a beta of 0.07.

Stride (NYSE:LRN - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.46. Stride had a net margin of 11.97% and a return on equity of 25.51%. The firm had revenue of $653.65 million during the quarter, compared to the consensus estimate of $626.23 million. During the same period last year, the firm posted $1.42 EPS. The firm's revenue for the quarter was up 22.4% on a year-over-year basis. As a group, research analysts expect that Stride, Inc. will post 6.67 earnings per share for the current fiscal 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.

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