Stride, Inc. $LRN Holdings Reduced by Amundi

Key Points

• Amundi has reduced its stake in Stride, Inc. (NYSE: LRN) by 20.7%, now holding shares worth $2.27 million after selling 4,538 shares in the first quarter.
• Stride, Inc. reported earnings per share of $2.29 for its most recent quarter, surpassing estimates by $0.46, with a revenue increase of 22.4% year-over-year.
• Several institutional investors have increased their positions in Stride, resulting in institutional ownership now accounting for 98.24% of the company's stock.

Amundi cut its stake in shares of Stride, Inc. (NYSE:LRN - Free Report) by 20.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 17,409 shares of the company's stock after selling 4,538 shares during the period. Amundi's holdings in Stride were worth $2,272,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in LRN. Larson Financial Group LLC grew its stake in shares of Stride by 333.3% during the 1st quarter. Larson Financial Group LLC now owns 208 shares of the company's stock valued at $26,000 after buying an additional 160 shares during the period. First Horizon Advisors Inc. grew its stake in shares of Stride by 140.5% during the 1st quarter. First Horizon Advisors Inc. now owns 267 shares of the company's stock valued at $34,000 after buying an additional 156 shares during the period. Point72 Hong Kong Ltd purchased a new stake in shares of Stride during the 4th quarter valued at $41,000. Harbour Investments Inc. grew its stake in shares of Stride by 374.6% during the 1st quarter. Harbour Investments Inc. now owns 337 shares of the company's stock valued at $43,000 after buying an additional 266 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Stride during the 1st quarter valued at $43,000. 98.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Stride

In other Stride news, CEO James Jeaho Rhyu sold 13,961 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $114,895,378.98. This represents a 1.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.00% of the stock is currently owned by corporate insiders.

Stride Stock Performance

Shares of NYSE:LRN traded down $18.42 during trading on Monday, reaching $139.94. 3,152,827 shares of the company's stock traded hands, compared to its average volume of 773,214. 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 12 month low of $63.25 and a 12 month high of $171.17. The company has a 50 day moving average of $148.06 and a 200-day moving average of $142.64. The stock has a market capitalization of $6.11 billion, a P/E ratio of 23.25, a price-to-earnings-growth ratio of 0.92 and a beta of 0.22.

Stride (NYSE:LRN - Get Free Report) last announced its quarterly earnings data 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 the consensus estimate of $626.23 million. During the same quarter in the prior year, the firm earned $1.42 EPS. The company's revenue for the quarter was up 22.4% compared to the same quarter last year. On average, equities analysts expect that Stride, Inc. will post 6.67 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of Stride from a "buy" rating to a "hold" rating in a report on Friday, August 22nd. Barrington Research lifted their target price on shares of Stride from $170.00 to $185.00 and gave the company an "outperform" rating in a report on Friday, August 29th. Finally, Morgan Stanley boosted their price objective on shares of Stride from $148.00 to $159.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Stride has an average rating of "Moderate Buy" and a consensus target price of $146.40.

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.