6,264 Shares in Stride, Inc. $LRN Purchased by Inspire Investing LLC

Key Points

• Inspire Investing LLC acquired 6,264 shares of Stride, Inc. (NYSE:LRN), valued at approximately $792,000, signaling a new investment interest in the company.
• Institutional investors own 98.24% of Stride’s stock, emphasizing strong institutional support for the company.
• Stride reported better-than-expected earnings of $2.29 per share, surpassing analyst estimates by $0.46 and highlighting a year-over-year revenue increase of 22.4%.

Inspire Investing LLC acquired a new position in shares of Stride, Inc. (NYSE:LRN - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 6,264 shares of the company's stock, valued at approximately $792,000.

Other large investors have also made changes to their positions in the company. 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 worth $26,000 after purchasing an additional 160 shares during the last quarter. First Horizon Advisors Inc. increased its stake in Stride by 140.5% during the first 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 bought a new position in Stride during the fourth quarter valued at about $41,000. Harbour Investments Inc. increased its stake in Stride by 374.6% during the first quarter. Harbour Investments Inc. now owns 337 shares of the company's stock valued at $43,000 after acquiring an additional 266 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in Stride during the first quarter valued at about $43,000. Institutional investors and hedge funds own 98.24% of the company's stock.

Analyst Upgrades and Downgrades

LRN has been the topic of several research reports. Wall Street Zen lowered Stride from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. Barrington Research boosted their price target on Stride from $170.00 to $185.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. Finally, Morgan Stanley boosted their price target 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 issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $146.40.

Insider Buying and Selling at Stride

In related news, CEO James Jeaho Rhyu sold 13,961 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $162.66, for a total transaction of $2,270,896.26. Following the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.00% of the company's stock.

Stride Trading Down 1.7%

LRN stock opened at $158.36 on Friday. Stride, Inc. has a 1-year low of $63.25 and a 1-year high of $171.17. The firm has a market cap of $6.91 billion, a P/E ratio of 26.31, a P/E/G ratio of 0.94 and a beta of 0.22. The business's 50 day moving average is $148.06 and its 200-day moving average is $142.53. The company has a current ratio of 5.39, a quick ratio of 5.27 and a debt-to-equity ratio of 0.31.

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. Stride had a return on equity of 25.51% and a net margin of 11.97%.The company had revenue of $653.65 million for the quarter, compared to analyst estimates of $626.23 million. During the same period in the prior year, the company posted $1.42 EPS. The company's revenue was up 22.4% compared to the same quarter last year. Equities analysts anticipate that Stride, Inc. will post 6.67 earnings per share for the current fiscal year.

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.

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