Belpointe Asset Management LLC Takes Position in Stride, Inc. $LRN

Key Points

• Belpointe Asset Management LLC has acquired a new stake in Stride, Inc. (NYSE: LRN) by purchasing 3,556 shares valued at approximately $450,000.
• Stride, Inc. reported earnings of $2.29 per share for the last quarter, surpassing analysts' expectations of $1.83, and achieved a revenue of $653.65 million, which is a 22.4% increase year-over-year.
• Several analysts have upgraded their price targets for Stride, with Barrington Research raising it from $170 to $185, reflecting confidence in the company's growth potential.

Belpointe Asset Management LLC acquired a new stake in shares of Stride, Inc. (NYSE:LRN - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,556 shares of the company's stock, valued at approximately $450,000.

A number of other institutional investors have also recently made changes to their positions in LRN. Larson Financial Group LLC lifted its holdings in shares of Stride by 333.3% in the 1st quarter. Larson Financial Group LLC now owns 208 shares of the company's stock valued at $26,000 after acquiring an additional 160 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of Stride by 140.5% in the 1st quarter. First Horizon Advisors Inc. now owns 267 shares of the company's stock valued at $34,000 after acquiring an additional 156 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Stride in the 4th quarter valued at about $41,000. Harbour Investments Inc. lifted its holdings in shares of Stride by 374.6% in the 1st quarter. Harbour Investments Inc. now owns 337 shares of the company's stock valued at $43,000 after acquiring an additional 266 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Stride in the 1st quarter valued at about $43,000. Hedge funds and other institutional investors own 98.24% of the company's stock.

Insider Transactions at Stride

In other news, CEO James Jeaho Rhyu sold 13,961 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.00% of the company's stock.

Stride Price Performance

Shares of LRN opened at $158.36 on Monday. The firm has a market capitalization of $6.91 billion, a PE ratio of 26.31, a price-to-earnings-growth ratio of 0.92 and a beta of 0.22. 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. The company's fifty day moving average price is $148.06 and its 200-day moving average price is $142.64.

Stride (NYSE:LRN - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.83 by $0.46. The company had revenue of $653.65 million during the quarter, compared to the consensus estimate 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 previous year, the firm posted $1.42 earnings per share. On average, equities research analysts predict that Stride, Inc. will post 6.67 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Barrington Research raised their price objective on shares of Stride from $170.00 to $185.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. Morgan Stanley raised their price objective 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, Wall Street Zen downgraded shares of Stride from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently 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.

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