Comerica Bank Boosts Stake in Stride, Inc. $LRN

Key Points

• Comerica Bank has increased its holdings in Stride, Inc. by 39.4% in the first quarter, acquiring an additional 16,987 shares, bringing its total shares to 60,059 valued at approximately $7.6 million.
• CEO James Jeaho Rhyu sold 13,961 shares of Stride on August 19, reducing his ownership by 1.94%, while still retaining 706,353 shares worth nearly $114.9 million.
• Stride's stock has an average rating of "Moderate Buy" from analysts, with a current consensus target price of $143.40 following a recent earnings report that significantly surpassed expectations.

Comerica Bank raised its holdings in shares of Stride, Inc. (NYSE:LRN - Free Report) by 39.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,059 shares of the company's stock after buying an additional 16,987 shares during the period. Comerica Bank owned about 0.14% of Stride worth $7,598,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. DAVENPORT & Co LLC purchased a new position in shares of Stride during the first quarter valued at approximately $461,000. Canandaigua National Bank & Trust Co. purchased a new position in shares of Stride during the first quarter valued at approximately $273,000. GAMMA Investing LLC boosted its position in shares of Stride by 14,892.4% during the first quarter. GAMMA Investing LLC now owns 370,013 shares of the company's stock valued at $46,807,000 after buying an additional 367,545 shares during the period. CW Advisors LLC boosted its position in shares of Stride by 89.5% during the first quarter. CW Advisors LLC now owns 161,458 shares of the company's stock valued at $20,424,000 after buying an additional 76,260 shares during the period. Finally, Kestra Private Wealth Services LLC purchased a new position in shares of Stride during the first quarter valued at approximately $771,000. Hedge funds and other institutional investors own 98.24% of the company's stock.

Stride Trading Down 1.6%

Shares of NYSE LRN traded down $2.63 during trading hours on Monday, reaching $163.03. The stock had a trading volume of 634,175 shares, compared to its average volume of 799,202. 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 $7.11 billion, a price-to-earnings ratio of 27.08, a P/E/G ratio of 0.95 and a beta of 0.22. The business's fifty day moving average price is $144.16 and its two-hundred day moving average price is $140.95. Stride, Inc. has a 52-week low of $63.25 and a 52-week high of $171.17.

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, beating analysts' consensus estimates of $1.83 by $0.46. The firm had revenue of $653.65 million during the quarter, compared to analyst estimates of $626.23 million. Stride had a return on equity of 25.51% and a net margin of 11.97%.Stride's quarterly revenue was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.42 earnings per share. Analysts expect that Stride, Inc. will post 6.67 EPS for the current fiscal year.

Analyst Ratings Changes

LRN has been the subject of several recent analyst reports. Morgan Stanley boosted their target price on Stride from $148.00 to $159.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Wall Street Zen lowered Stride from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. Finally, Barrington Research boosted their target price on Stride from $170.00 to $185.00 and gave the company an "outperform" rating in a research report on Friday. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Stride presently has a consensus rating of "Moderate Buy" and a consensus price target of $146.40.

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 transaction of $2,270,896.26. Following the completion of the sale, the chief executive officer owned 706,353 shares in the company, valued at $114,895,378.98. This represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.00% of the stock is currently owned by corporate insiders.

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.