Aberdeen Group plc Decreases Stock Position in Stride, Inc. $LRN

Key Points

• Aberdeen Group plc decreased its stock position in Stride, Inc. by 29.2% in the second quarter, holding 145,028 shares worth approximately $20.86 million after selling 59,899 shares.
• Research analysts have mixed ratings on Stride, with five analysts rating it as a Buy and a consensus price target of $146.40.
• Stride reported a 22.4% year-over-year revenue increase to $653.65 million in its latest quarterly earnings, exceeding analyst expectations.

Aberdeen Group plc reduced its position in Stride, Inc. (NYSE:LRN - Free Report) by 29.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 145,028 shares of the company's stock after selling 59,899 shares during the period. Aberdeen Group plc owned about 0.33% of Stride worth $20,864,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Vontobel Holding Ltd. purchased a new position in Stride in the 2nd quarter worth approximately $297,000. Maryland State Retirement & Pension System raised its holdings in Stride by 0.9% in the 2nd quarter. Maryland State Retirement & Pension System now owns 12,614 shares of the company's stock worth $1,831,000 after acquiring an additional 109 shares during the last quarter. KLP Kapitalforvaltning AS raised its stake in Stride by 10.8% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 15,400 shares of the company's stock valued at $2,236,000 after buying an additional 1,500 shares during the last quarter. SteelPeak Wealth LLC purchased a new stake in Stride during the 2nd quarter valued at $1,464,000. Finally, Belpointe Asset Management LLC raised its stake in Stride by 17.0% during the 2nd quarter. Belpointe Asset Management LLC now owns 4,160 shares of the company's stock valued at $604,000 after buying an additional 604 shares during the last quarter. 98.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Weiss Ratings reiterated a "buy (b)" rating on shares of Stride in a research note on Wednesday, October 8th. Morgan Stanley boosted their target price on shares of Stride from $148.00 to $159.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Wall Street Zen lowered shares of Stride from a "buy" rating to a "hold" rating in a research note on Saturday, October 4th. Finally, Barrington Research reiterated an "outperform" rating and set a $185.00 target price on shares of Stride in a research note on Tuesday, September 23rd. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $146.40.

Stride Trading Up 0.2%

NYSE:LRN opened at $144.88 on Tuesday. 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 market capitalization of $6.32 billion, a price-to-earnings ratio of 24.07, a price-to-earnings-growth ratio of 0.82 and a beta of 0.07. Stride, Inc. has a one year low of $63.25 and a one year high of $171.17. The business has a fifty day moving average price of $152.94 and a 200-day moving average price of $145.19.

Stride (NYSE:LRN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $2.29 EPS for the quarter, topping the consensus estimate of $1.83 by $0.46. The firm had revenue of $653.65 million during 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%.Stride's revenue was up 22.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.42 EPS. Sell-side analysts forecast that Stride, Inc. will post 6.67 EPS for the current year.

Insiders Place Their Bets

In related news, CEO James Jeaho Rhyu sold 13,961 shares of the company'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 completion of the transaction, the chief executive officer owned 706,353 shares of the company's stock, valued at approximately $114,895,378.98. This represents a 1.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 3.00% of the company's stock.

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.

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