Assenagon Asset Management S.A. Acquires New Shares in Stride, Inc. $LRN

Key Points

• Assenagon Asset Management S.A. acquired 18,261 shares of Stride, Inc., worth approximately $2.65 million, during the second quarter.
• CEO James Jeaho Rhyu sold 13,961 shares of Stride, resulting in a 1.94% decrease in his ownership, which now stands at 706,353 shares valued at about $114.9 million.
• Stride reported a 22.4% increase in revenue year-over-year, reaching $653.65 million for the latest quarter, and exceeded earnings expectations with an EPS of $2.29.

Assenagon Asset Management S.A. purchased a new position in Stride, Inc. (NYSE:LRN - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 18,261 shares of the company's stock, valued at approximately $2,651,000.

Other large investors have also modified their holdings of the company. Inspire Investing LLC bought a new stake in Stride during the first quarter valued at about $792,000. DAVENPORT & Co LLC bought a new position in shares of Stride during the 1st quarter worth about $461,000. Swedbank AB lifted its stake in shares of Stride by 5.4% in the first quarter. Swedbank AB now owns 1,009,726 shares of the company's stock valued at $127,730,000 after buying an additional 52,000 shares during the period. United Services Automobile Association bought a new position in Stride during the first quarter valued at about $326,000. Finally, Canandaigua National Bank & Trust Co. acquired a new position in Stride in the 1st quarter valued at approximately $273,000. 98.24% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Stride news, CEO James Jeaho Rhyu sold 13,961 shares of the company's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $162.66, for a total value of $2,270,896.26. Following the transaction, the chief executive officer directly owned 706,353 shares of the company's stock, valued at $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 available through this hyperlink. Insiders own 3.00% of the company's stock.

Stride Stock Performance

NYSE LRN opened at $147.38 on Friday. Stride, Inc. has a 1-year low of $63.25 and a 1-year high of $171.17. The company has a 50 day moving average of $149.31 and a 200-day moving average of $143.04. The company has a current ratio of 5.39, a quick ratio of 5.27 and a debt-to-equity ratio of 0.31. The firm has a market cap of $6.43 billion, a price-to-earnings ratio of 24.48, a PEG ratio of 0.82 and a beta of 0.22.

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

Wall Street Analyst Weigh In

LRN has been the topic of several recent research reports. Barrington Research reissued an "outperform" rating and set a $185.00 price objective on shares of Stride in a report on Tuesday. Morgan Stanley increased their price objective 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. Finally, Wall Street Zen upgraded shares of Stride from a "hold" rating to a "buy" rating in a research report on Saturday, September 20th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $146.40.

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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