32,766 Shares in Stride, Inc. $LRN Purchased by KADENSA CAPITAL Ltd

Key Points

• KADENSA CAPITAL Ltd acquired 32,766 shares of Stride, Inc. (NYSE:LRN) worth approximately $4.15 million, constituting about 0.08% of the company's total shares.
• Other institutional investors have significantly increased their stakes, with Wellington Management Group boosting its holdings by 120.6% during the last quarter.
• Stride reported earnings of $2.29 per share for the last quarter, exceeding analyst estimates of $1.83, alongside a revenue increase of 22.4% year-over-year to $653.65 million.

KADENSA CAPITAL Ltd acquired a new position in shares of Stride, Inc. (NYSE:LRN - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 32,766 shares of the company's stock, valued at approximately $4,145,000. KADENSA CAPITAL Ltd owned about 0.08% of Stride as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in LRN. Larson Financial Group LLC raised its stake in shares of Stride by 333.3% in the first quarter. Larson Financial Group LLC now owns 208 shares of the company's stock valued at $26,000 after buying an additional 160 shares during the period. First Horizon Advisors Inc. boosted its holdings in Stride by 140.5% during the 1st quarter. First Horizon Advisors Inc. now owns 267 shares of the company's stock valued at $34,000 after acquiring an additional 156 shares during the period. Point72 Hong Kong Ltd purchased a new stake in Stride in the 4th quarter worth approximately $41,000. Harbour Investments Inc. raised its position in shares of Stride by 374.6% in the 1st quarter. Harbour Investments Inc. now owns 337 shares of the company's stock worth $43,000 after acquiring an additional 266 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in Stride during the 1st quarter valued at approximately $43,000. 98.24% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO James Jeaho Rhyu sold 13,961 shares of the firm'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 transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 3.00% of the stock is currently owned by corporate insiders.

Stride Price Performance

LRN traded up $1.47 during trading on Tuesday, reaching $165.89. The company's stock had a trading volume of 564,422 shares, compared to its average volume of 762,345. The firm has a fifty day simple moving average of $146.27 and a two-hundred day simple moving average of $141.89. The company has a market cap of $7.24 billion, a price-to-earnings ratio of 27.56, a PEG ratio of 0.94 and a beta of 0.22. The company has a quick ratio of 5.27, a current ratio of 5.39 and a debt-to-equity ratio of 0.31. Stride, Inc. has a 1 year low of $63.25 and a 1 year 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 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 business had revenue of $653.65 million during the quarter, compared to the consensus estimate of $626.23 million. During the same quarter in the previous year, the firm posted $1.42 earnings per share. The company's quarterly revenue was up 22.4% compared to the same quarter last year. As a group, analysts anticipate that Stride, Inc. will post 6.67 EPS for the current year.

Analysts Set New Price Targets

LRN has been the topic of a number of research reports. Wall Street Zen downgraded Stride from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. Barrington Research boosted their price objective on Stride from $170.00 to $185.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. Finally, Morgan Stanley upped their target price on Stride from $148.00 to $159.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Stride currently has a consensus rating of "Moderate Buy" and a consensus target price of $146.40.

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.