Candriam S.C.A. Has $23.93 Million Stake in Stride, Inc. $LRN

Key Points

• Candriam S.C.A. increased its stake in Stride, Inc. by 214.2%, now owning approximately 0.43% of the company with a value of $23.9 million.
• Multiple large investors, including Larson Financial Group and Harbour Investments, significantly boosted their positions in Stride during the first quarter, indicating growing institutional interest.
• Analysts have a consensus rating of "Moderate Buy" for Stride, with a price target of $143.40, reflecting optimism about the company's growth and performance.

Candriam S.C.A. raised its position in shares of Stride, Inc. (NYSE:LRN - Free Report) by 214.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 189,143 shares of the company's stock after acquiring an additional 128,947 shares during the period. Candriam S.C.A. owned approximately 0.43% of Stride worth $23,927,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Larson Financial Group LLC boosted 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 valued at $26,000 after buying an additional 160 shares during the period. First Horizon Advisors Inc. boosted 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 valued at $34,000 after buying an additional 156 shares during the period. Point72 Hong Kong Ltd bought a new stake in shares of Stride in the fourth quarter valued at approximately $41,000. Harbour Investments Inc. boosted 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 valued at $43,000 after buying an additional 266 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Stride in the first quarter valued at approximately $43,000. 98.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Canaccord Genuity Group boosted their price target on Stride from $145.00 to $155.00 and gave the company a "buy" rating in a research note on Monday, April 28th. Morgan Stanley raised their target price on shares of Stride from $148.00 to $159.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. William Blair reissued an "outperform" rating on shares of Stride in a report on Wednesday, April 30th. Barrington Research restated an "outperform" rating and set a $170.00 target price on shares of Stride in a research note on Thursday, July 24th. Finally, BMO Capital Markets restated an "outperform" rating on shares of Stride in a research note on Thursday, May 1st. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Stride presently has a consensus rating of "Moderate Buy" and an average price target of $143.40.

Stride Price Performance

Shares of NYSE:LRN traded down $2.3950 during trading on Friday, hitting $165.3750. 739,772 shares of the company were exchanged, compared to its average volume of 754,639. The business's 50 day moving average is $141.91 and its 200-day moving average is $140.02. The company has a market capitalization of $7.22 billion, a P/E ratio of 27.47, a price-to-earnings-growth ratio of 0.97 and a beta of 0.10. The company has a quick ratio of 5.27, a current ratio of 5.39 and a debt-to-equity ratio of 0.31. Stride, Inc. has a 1-year low of $63.25 and a 1-year high of $169.87.

Stride (NYSE:LRN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company's revenue for the quarter was up 22.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.42 earnings per share. Equities analysts forecast that Stride, Inc. will post 6.67 earnings per share for the current year.

Insider Activity

In other news, CEO James Jeaho Rhyu sold 13,961 shares of the company's 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 completion of the transaction, the chief executive officer directly owned 706,353 shares in the company, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.00% of the company's stock.

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.