Comerica Bank Sells 22,699 Shares of Stride, Inc. $LRN

Key Points

• Comerica Bank cut its stake in Stride by 51.1%, selling 22,699 shares and leaving it with 21,729 shares valued at about $1.41 million at the end of the quarter.
• Other institutions boosted exposure—Vanguard holds ~4.88 million shares (~$317.1M) and SG Americas increased its stake 325% to 556,452 shares (~$36.13M)—and institutional investors now own 98.24% of Stride; the company also recently beat quarterly EPS estimates ($2.30 vs. $2.21) and trades at a market cap of ~$3.91B with an average analyst rating of “Hold” and a $109.75 price target.

Comerica Bank lessened its position in shares of Stride, Inc. (NYSE:LRN - Free Report) by 51.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,729 shares of the company's stock after selling 22,699 shares during the period. Comerica Bank's holdings in Stride were worth $1,411,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of LRN. SG Americas Securities LLC raised its stake in Stride by 325.0% during the fourth quarter. SG Americas Securities LLC now owns 556,452 shares of the company's stock worth $36,130,000 after buying an additional 425,524 shares during the last quarter. William Blair Investment Management LLC raised its stake in Stride by 37.2% during the third quarter. William Blair Investment Management LLC now owns 1,511,080 shares of the company's stock worth $225,060,000 after buying an additional 410,029 shares during the last quarter. Divisadero Street Capital Management LP bought a new position in Stride during the third quarter worth $55,852,000. Vanguard Group Inc. raised its stake in Stride by 7.5% during the fourth quarter. Vanguard Group Inc. now owns 4,883,571 shares of the company's stock worth $317,090,000 after buying an additional 340,838 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in Stride by 553.4% in the third quarter. Alliancebernstein L.P. now owns 342,894 shares of the company's stock valued at $51,071,000 after purchasing an additional 290,415 shares in the last quarter. Institutional investors own 98.24% of the company's stock.

Stride Trading Down 1.2%

NYSE:LRN opened at $91.85 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 6.21 and a quick ratio of 6.14. The firm has a 50-day moving average of $89.99 and a 200-day moving average of $81.60. The company has a market cap of $3.91 billion, a PE ratio of 14.18, a PEG ratio of 0.57 and a beta of 0.13. Stride, Inc. has a one year low of $60.61 and a one year high of $171.17.

Stride (NYSE:LRN - Get Free Report) last posted its earnings results on Tuesday, April 28th. The company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.21 by $0.09. The company had revenue of $629.87 million during the quarter, compared to the consensus estimate of $629.69 million. Stride had a net margin of 12.15% and a return on equity of 25.20%. The firm's revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.02 earnings per share. As a group, equities research analysts expect that Stride, Inc. will post 8.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Wall Street Zen downgraded shares of Stride from a "buy" rating to a "hold" rating in a research note on Saturday, January 31st. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $125.00 price target on shares of Stride in a research note on Wednesday, January 28th. Barrington Research reaffirmed an "outperform" rating and issued a $125.00 price target on shares of Stride in a research note on Thursday, April 16th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Stride in a research note on Friday, April 10th. Finally, BMO Capital Markets reaffirmed a "market perform" rating on shares of Stride in a research note on Tuesday, March 3rd. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $109.75.

Stride Company Profile

Stride, Inc NYSE: LRN is a technology-driven education company that designs and delivers online learning solutions for students and adult learners. Through long-term partnerships with state-authorized public school districts, Stride operates virtual academies that serve K-12 students across the United States. The company's blended-learning model combines digital curriculum, live teaching support and data analytics to personalize instruction and monitor student progress.

In addition to its K-12 offerings, Stride provides a portfolio of career and workforce readiness programs under its Stride Career Prep division.

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