Aberdeen Group plc Trims Position in Stride, Inc. $LRN

Key Points

• Aberdeen Group plc reduced its stake in Stride, Inc. by 4.7%, now holding 204,927 shares, valued at approximately $25.9 million.
• Other institutional investors have increased their positions, with Janus Henderson Group raising its stake by 27.6% and Congress Asset Management increasing it by 102.2% in the last quarter.
• Stride's last earnings report beat estimates with EPS of $2.29 and revenue of $653.65 million, showing a year-over-year revenue increase of 22.4%.

Aberdeen Group plc lowered its position in shares of Stride, Inc. (NYSE:LRN - Free Report) by 4.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 204,927 shares of the company's stock after selling 10,131 shares during the quarter. Aberdeen Group plc owned 0.47% of Stride worth $25,923,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Janus Henderson Group PLC raised its position in shares of Stride by 27.6% during the 4th quarter. Janus Henderson Group PLC now owns 1,493,709 shares of the company's stock valued at $155,251,000 after purchasing an additional 323,275 shares during the period. Congress Asset Management Co. increased its stake in Stride by 102.2% in the 1st quarter. Congress Asset Management Co. now owns 1,169,748 shares of the company's stock worth $147,973,000 after buying an additional 591,208 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Stride by 9.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 764,067 shares of the company's stock valued at $79,411,000 after acquiring an additional 65,509 shares during the period. Deutsche Bank AG lifted its position in shares of Stride by 10.4% in the first quarter. Deutsche Bank AG now owns 617,894 shares of the company's stock valued at $78,164,000 after acquiring an additional 58,029 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Stride by 120.6% in the fourth quarter. Wellington Management Group LLP now owns 607,581 shares of the company's stock valued at $63,146,000 after acquiring an additional 332,098 shares in the last quarter. 98.24% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO James Jeaho Rhyu sold 13,961 shares of the company's 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.00% of the stock is owned by company insiders.

Stride Trading Down 0.1%

NYSE LRN traded down $0.2130 on Wednesday, hitting $163.4070. 510,086 shares of the stock were exchanged, compared to its average volume of 751,898. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.27 and a current ratio of 5.39. Stride, Inc. has a 52-week low of $63.25 and a 52-week high of $164.41. The firm has a market capitalization of $7.13 billion, a P/E ratio of 27.14, a P/E/G ratio of 0.96 and a beta of 0.10. The stock has a fifty day moving average price of $140.95 and a two-hundred day moving average price of $139.60.

Stride (NYSE:LRN - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $2.29 earnings per share (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 net margin of 11.97% and a return on equity of 25.51%. The business's revenue was up 22.4% on a year-over-year basis. During the same quarter last year, the business earned $1.42 EPS. Research analysts forecast that Stride, Inc. will post 6.67 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on LRN. Barrington Research reiterated an "outperform" rating and set a $170.00 target price on shares of Stride in a research report on Thursday, July 24th. BMO Capital Markets reissued an "outperform" rating on shares of Stride in a report on Thursday, May 1st. Morgan Stanley upped their target price 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. Wall Street Zen upgraded shares of Stride from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Finally, William Blair reiterated an "outperform" rating on shares of Stride in a research note on Wednesday, April 30th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $143.40.

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.