Pinnacle Wealth Management LLC Makes New $644,000 Investment in Stride, Inc. $LRN

Key Points

• Pinnacle Wealth Management LLC acquired a new stake in Stride, Inc. by purchasing 5,088 shares valued at approximately $644,000 during the 1st quarter.
• Stride, Inc. reported an earnings per share (EPS) of $2.29 for the quarter, significantly beating the consensus estimate of $1.83, with a revenue increase of 22.4% year-over-year.
• Analyst ratings for Stride indicate a consensus "Moderate Buy" with a price target of $143.40, reflecting confidence in the company's performance and future growth.

Pinnacle Wealth Management LLC purchased a new stake in shares of Stride, Inc. (NYSE:LRN - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 5,088 shares of the company's stock, valued at approximately $644,000.

A number of other institutional investors have also recently made changes to their positions in LRN. Larson Financial Group LLC lifted 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 valued at $26,000 after buying an additional 160 shares during the last quarter. First Horizon Advisors Inc. lifted 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 valued at $34,000 after buying an additional 156 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Stride during the 4th quarter valued at $41,000. Harbour Investments Inc. lifted 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 valued at $43,000 after buying an additional 266 shares during the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of Stride by 158.8% during the 1st quarter. Fifth Third Bancorp now owns 383 shares of the company's stock valued at $48,000 after buying an additional 235 shares during the last quarter. Hedge funds and other institutional investors own 98.24% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on LRN shares. Barrington Research reaffirmed an "outperform" rating and set a $170.00 price target on shares of Stride in a research report on Thursday, July 24th. BMO Capital Markets reiterated an "outperform" rating on shares of Stride in a research note on Thursday, May 1st. William Blair reiterated an "outperform" rating on shares of Stride in a research note on Wednesday, April 30th. Wall Street Zen upgraded Stride from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Finally, Morgan Stanley boosted their price objective 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 investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $143.40.

Stride Price Performance

NYSE LRN traded down $0.2130 during trading on Wednesday, reaching $163.4070. The company's stock had a trading volume of 510,086 shares, compared to its average volume of 751,898. The stock has a market capitalization of $7.13 billion, a PE ratio of 27.14, a P/E/G ratio of 0.96 and a beta of 0.10. 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 firm has a fifty day moving average of $140.95 and a 200 day moving average of $139.60. Stride, Inc. has a one year low of $63.25 and a one year high of $164.41.

Stride (NYSE:LRN - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $2.29 earnings per share for the quarter, topping analysts' consensus estimates of $1.83 by $0.46. The business had revenue of $653.65 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the company earned $1.42 EPS. Analysts expect that Stride, Inc. will post 6.67 EPS for the current fiscal year.

Insiders Place Their Bets

In other Stride news, CEO James Jeaho Rhyu sold 13,961 shares of the company'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 transaction, the chief executive officer directly owned 706,353 shares in the company, valued at $114,895,378.98. This represents a 1.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.00% of the stock is owned by corporate insiders.

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.