Cookson Peirce & Co. Inc. Buys Shares of 6,493 Stride, Inc. $LRN

Key Points

• Cookson Peirce & Co. Inc. invested approximately $821,000 in Stride, Inc. by acquiring 6,493 shares of the company's stock during the first quarter of the year.
• Stride, Inc. reported earnings of $2.29 per share for the last quarter, exceeding analysts' expectations of $1.83 and showing a 22.4% year-over-year increase in revenue.
• Several analysts have upgraded their ratings for Stride, with a consensus "Moderate Buy" rating and a target price ranging from $143.40 to $170.00.

Cookson Peirce & Co. Inc. purchased a new position in shares of Stride, Inc. (NYSE:LRN - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,493 shares of the company's stock, valued at approximately $821,000.

Other hedge funds have also recently bought and sold shares of the company. DAVENPORT & Co LLC bought a new stake in shares of Stride in the first quarter valued at about $461,000. Canandaigua National Bank & Trust Co. acquired a new stake in Stride during the first quarter worth $273,000. GAMMA Investing LLC increased its holdings in Stride by 14,892.4% in the 1st 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. Kestra Private Wealth Services LLC bought a new stake in Stride in the 1st quarter valued at $771,000. Finally, Keybank National Association OH raised its stake in shares of Stride by 65.8% in the 1st quarter. Keybank National Association OH now owns 6,413 shares of the company's stock valued at $811,000 after buying an additional 2,544 shares in the last quarter. 98.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on LRN. Morgan Stanley upped their target price 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. Wall Street Zen upgraded shares of Stride from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. William Blair reaffirmed an "outperform" rating on shares of Stride in a research note on Wednesday, April 30th. Barrington Research reiterated an "outperform" rating and issued 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 report on Thursday, May 1st. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Stride has an average rating of "Moderate Buy" and an average target price of $143.40.

Stride Trading Down 0.1%

Shares of LRN traded down $0.2130 during trading hours on Wednesday, hitting $163.4070. 510,086 shares of the stock traded hands, compared to its average volume of 751,898. The business has a fifty day moving average of $140.95 and a 200-day moving average of $139.60. The firm has a market capitalization of $7.13 billion, a PE ratio of 27.14, a price-to-earnings-growth ratio of 0.96 and a beta of 0.10. Stride, Inc. has a 1-year low of $63.25 and a 1-year high of $164.41. The company has a current ratio of 5.39, a quick ratio of 5.27 and a debt-to-equity ratio of 0.31.

Stride (NYSE:LRN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $2.29 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 analysts' expectations of $626.23 million. Stride had a net margin of 11.97% and a return on equity of 25.51%. Stride's revenue was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.42 EPS. Analysts expect that Stride, Inc. will post 6.67 EPS for the current year.

Insider Buying and Selling

In other Stride news, CEO James Jeaho Rhyu sold 13,961 shares of the stock in a transaction dated 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 owned 706,353 shares of the company's stock, valued at approximately $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 SEC, which can be accessed through the SEC website. Corporate insiders own 3.00% of the company's stock.

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.