Aigen Investment Management LP Decreases Stake in Stride, Inc. (NYSE:LRN)

Key Points

• Aigen Investment Management LP has significantly reduced its stake in Stride, Inc. by 82.4%, selling 7,889 shares and now owning only 1,681 shares valued at $213,000.
• Other institutional investors have increased their holdings, with Larson Financial Group LLC boosting its stake by 333.3% in the same quarter.
• Stride, Inc. reported a 22.4% year-over-year revenue growth, with quarterly earnings of $2.29 per share, surpassing analysts' expectations of $1.83 by $0.46.

Aigen Investment Management LP reduced its holdings in Stride, Inc. (NYSE:LRN - Free Report) by 82.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,681 shares of the company's stock after selling 7,889 shares during the period. Aigen Investment Management LP's holdings in Stride were worth $213,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Larson Financial Group LLC lifted its stake in shares of Stride by 333.3% in the first quarter. Larson Financial Group LLC now owns 208 shares of the company's stock worth $26,000 after buying an additional 160 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in shares of 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 buying an additional 156 shares in the last quarter. Harbour Investments Inc. lifted its stake in shares of Stride by 374.6% in the first quarter. Harbour Investments Inc. now owns 337 shares of the company's stock worth $43,000 after buying an additional 266 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of Stride by 158.8% in the first quarter. Fifth Third Bancorp now owns 383 shares of the company's stock worth $48,000 after buying an additional 235 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Stride in the fourth quarter worth about $41,000. 98.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on LRN shares. Canaccord Genuity Group lifted their target price on shares of Stride from $145.00 to $155.00 and gave the stock a "buy" rating in a research note on Monday, April 28th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Stride in a research note on Thursday, May 1st. Wall Street Zen raised shares of Stride from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Morgan Stanley lifted their target price on shares of Stride from $148.00 to $159.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Finally, Barrington Research reaffirmed an "outperform" rating and set a $170.00 target price on shares of Stride in a research note on Thursday, July 24th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $143.40.

Stride Price Performance

Shares of LRN opened at $157.23 on Friday. Stride, Inc. has a 1-year low of $63.25 and a 1-year high of $162.30. The stock has a market cap of $6.86 billion, a PE ratio of 26.12, a P/E/G ratio of 0.93 and a beta of 0.10. The firm has a 50-day simple moving average of $139.32 and a two-hundred day simple moving average of $138.69. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.39 and a quick ratio of 5.27.

Stride (NYSE:LRN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $2.29 earnings per share for the quarter, beating analysts' consensus estimates of $1.83 by $0.46. Stride had a net margin of 11.97% and a return on equity of 25.51%. The business had revenue of $653.65 million during the quarter, compared to analysts' expectations of $626.23 million. During the same period last year, the business earned $1.42 earnings per share. The business's revenue for the quarter was up 22.4% on a year-over-year basis. As a group, analysts forecast that Stride, Inc. will post 6.67 EPS for the current 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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