3,260 Shares in Stride, Inc. (NYSE:LRN) Purchased by Jefferies Financial Group Inc.

Key Points

• Jefferies Financial Group Inc. purchased 3,260 shares of Stride, Inc., valued at approximately $412,000, indicating new interest in the education technology company.
• Stride's shares have received positive ratings from analysts, with upgrades including a shift from "hold" to "buy" by Wall Street Zen and target price increases from several firms.
• The company's latest earnings report showed a significant increase in revenue, with a 22.4% year-over-year growth and EPS of $2.29, surpassing estimates and reflecting strong performance.

Jefferies Financial Group Inc. purchased a new position in shares of Stride, Inc. (NYSE:LRN - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,260 shares of the company's stock, valued at approximately $412,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CIBC Private Wealth Group LLC raised its position in shares of Stride by 85.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 386 shares of the company's stock worth $42,000 after acquiring an additional 178 shares during the period. Geode Capital Management LLC grew its position in shares of Stride by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 970,395 shares of the company's stock worth $100,877,000 after buying an additional 5,694 shares in the last quarter. Resona Asset Management Co. Ltd. acquired a new stake in shares of Stride during the 4th quarter worth about $416,000. Wedbush Securities Inc. acquired a new stake in shares of Stride in the 4th quarter valued at about $215,000. Finally, Quadrant Capital Group LLC grew its holdings in shares of Stride by 23.0% during the fourth quarter. Quadrant Capital Group LLC now owns 1,378 shares of the company's stock worth $143,000 after buying an additional 258 shares during the last quarter. 98.24% of the stock is owned by hedge funds and other institutional investors.

Stride Stock Up 3.9%

Shares of NYSE:LRN traded up $5.55 during midday trading on Friday, hitting $149.60. The stock had a trading volume of 991,078 shares, compared to its average volume of 783,323. The company has a quick ratio of 5.53, a current ratio of 5.39 and a debt-to-equity ratio of 0.31. The business's 50-day simple moving average is $138.69 and its 200-day simple moving average is $137.44. Stride, Inc. has a 12 month low of $63.25 and a 12 month high of $162.30. The company has a market cap of $6.51 billion, a P/E ratio of 24.85, a PEG ratio of 0.96 and a beta of 0.10.

Stride (NYSE:LRN - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $653.65 million for 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%. Stride's revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter last year, the business posted $1.42 EPS. On average, sell-side analysts forecast that Stride, Inc. will post 6.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on LRN shares. William Blair reissued an "outperform" rating on shares of Stride in a research note on Wednesday, April 30th. Morgan Stanley upped their target price on Stride from $148.00 to $159.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Canaccord Genuity Group raised their price target on shares of Stride from $145.00 to $155.00 and gave the stock a "buy" rating in a research report on Monday, April 28th. Wall Street Zen raised shares of Stride from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Stride in a report on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $135.17.

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.