6,022 Shares in Stride, Inc. $LRN Acquired by Lee Johnson Capital Management LLC

Key Points

• Lee Johnson Capital Management LLC acquired 6,022 shares of Stride, Inc. (NYSE:LRN) valued at approximately $874,000 in the second quarter, signaling increased institutional interest in the company.
• Stride reported $2.29 earnings per share (EPS) for the last quarter, surpassing analysts' expectations and marking a year-over-year revenue increase of 22.4%.
• Analysts have a consensus rating of "Moderate Buy" for Stride, with future price targets being boosted by firms such as Morgan Stanley and Barrington Research.

Lee Johnson Capital Management LLC purchased a new position in 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 (SEC). The fund purchased 6,022 shares of the company's stock, valued at approximately $874,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. Rezny Wealth Management Inc. lifted its stake in Stride by 0.6% in the second quarter. Rezny Wealth Management Inc. now owns 14,152 shares of the company's stock worth $2,055,000 after acquiring an additional 83 shares during the last quarter. Vident Advisory LLC lifted its stake in Stride by 2.9% in the first quarter. Vident Advisory LLC now owns 2,941 shares of the company's stock worth $372,000 after acquiring an additional 84 shares during the last quarter. Vestcor Inc lifted its stake in Stride by 4.6% in the first quarter. Vestcor Inc now owns 2,328 shares of the company's stock worth $294,000 after acquiring an additional 102 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake 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 acquiring an additional 131 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its stake 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 acquiring an additional 156 shares during the last quarter. Hedge funds and other institutional investors own 98.24% of the company's stock.

Stride Stock Performance

Shares of LRN opened at $150.07 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.27 and a current ratio of 5.39. The stock has a market capitalization of $6.55 billion, a P/E ratio of 24.93, a P/E/G ratio of 0.84 and a beta of 0.22. The company's fifty day moving average is $149.96 and its two-hundred day moving average is $143.78. 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 announced its quarterly earnings data on Tuesday, August 5th. The company reported $2.29 earnings per share (EPS) 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 analysts' expectations of $626.23 million. Stride had a net margin of 11.97% and a return on equity of 25.51%. Stride's revenue was up 22.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.42 EPS. On average, sell-side analysts predict that Stride, Inc. will post 6.67 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on LRN shares. Morgan Stanley boosted their price objective on shares of Stride from $148.00 to $159.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Barrington Research restated an "outperform" rating and set a $185.00 price objective on shares of Stride in a research report on Tuesday, September 23rd. Finally, Wall Street Zen upgraded shares of Stride from a "hold" rating to a "buy" rating in a research report on Saturday, September 20th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $146.40.

Insider Transactions at Stride

In other Stride news, CEO James Jeaho Rhyu sold 13,961 shares of the business'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 directly owned 706,353 shares of the company's stock, valued at approximately $114,895,378.98. The trade was a 1.94% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate 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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