Stride, Inc. $LRN Shares Bought by AlphaQuest LLC

Key Points

• AlphaQuest LLC significantly increased its stake in Stride, Inc. by 267.6%, purchasing an additional 2,430 shares for a total of 3,338 shares valued at $422,000.
• Multiple institutional investors, including NewEdge Advisors LLC and Hsbc Holdings PLC, have also made substantial investments in Stride, with total institutional ownership currently at 98.24%.
• Stride's quarterly earnings report indicated an EPS of $2.29, exceeding estimates, with a revenue increase of 22.4% year-over-year to $653.65 million.

AlphaQuest LLC grew its holdings in Stride, Inc. (NYSE:LRN - Free Report) by 267.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,338 shares of the company's stock after acquiring an additional 2,430 shares during the period. AlphaQuest LLC's holdings in Stride were worth $422,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. CW Advisors LLC boosted its stake in shares of Stride by 89.5% in the first quarter. CW Advisors LLC now owns 161,458 shares of the company's stock valued at $20,424,000 after purchasing an additional 76,260 shares during the period. Candriam S.C.A. boosted its stake in shares of Stride by 214.2% in the first quarter. Candriam S.C.A. now owns 189,143 shares of the company's stock valued at $23,927,000 after purchasing an additional 128,947 shares during the period. Capital Fund Management S.A. boosted its stake in shares of Stride by 90.0% in the first quarter. Capital Fund Management S.A. now owns 71,022 shares of the company's stock valued at $8,984,000 after purchasing an additional 33,651 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Stride in the first quarter valued at $43,000. Finally, Pinnacle Wealth Management LLC purchased a new position in shares of Stride in the first quarter valued at $644,000. Hedge funds and other institutional investors own 98.24% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Morgan Stanley upped 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 downgraded shares of Stride from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. Barrington Research upped their target price on shares of Stride from $170.00 to $185.00 and gave the company an "outperform" rating in a research note on Friday. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Stride in a report on Thursday, May 1st. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Stride has an average rating of "Moderate Buy" and a consensus target price of $146.40.

Insider Buying and Selling at Stride

In other Stride news, CEO James Jeaho Rhyu sold 13,961 shares of the stock in a transaction on Tuesday, August 19th. The shares were 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.00% of the company's stock.

Stride Stock Down 1.6%

LRN traded down $2.63 during trading on Friday, hitting $163.03. The company had a trading volume of 634,175 shares, compared to its average volume of 793,404. The company has a market cap of $7.11 billion, a PE ratio of 27.08, a P/E/G ratio of 0.97 and a beta of 0.10. The business has a 50-day moving average of $144.16 and a 200-day moving average of $140.94. 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, Inc. has a 1-year low of $63.25 and a 1-year high of $171.17.

Stride (NYSE:LRN - Get Free Report) last posted its quarterly earnings results 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 firm 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%. The firm's quarterly revenue was up 22.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.42 earnings per share. As a group, analysts forecast that Stride, Inc. will post 6.67 earnings per share for the current year.

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.