Dimensional Fund Advisors LP Trims Position in Stride, Inc. $LRN

Key Points

• Dimensional Fund Advisors LP has reduced its stake in Stride, Inc. by 29.6%, selling 586,744 shares and now holding approximately 3.20% of the company.
• Stride, Inc. recently reported quarterly earnings of $2.29 per share, exceeding analysts' expectations of $1.83, with a revenue of $653.65 million for the quarter.
• The stock has received a consensus rating of "Moderate Buy" from analysts, with a price target of $143.40.

Dimensional Fund Advisors LP trimmed its stake in Stride, Inc. (NYSE:LRN - Free Report) by 29.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,394,188 shares of the company's stock after selling 586,744 shares during the quarter. Dimensional Fund Advisors LP owned 3.20% of Stride worth $176,364,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in LRN. Larson Financial Group LLC raised 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 worth $26,000 after purchasing an additional 160 shares during the last quarter. First Horizon Advisors Inc. lifted its position in Stride by 140.5% during the first quarter. First Horizon Advisors Inc. now owns 267 shares of the company's stock valued at $34,000 after purchasing an additional 156 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Stride during the 4th quarter valued at approximately $41,000. Harbour Investments Inc. boosted its position in shares of Stride by 374.6% in the first quarter. Harbour Investments Inc. now owns 337 shares of the company's stock worth $43,000 after purchasing an additional 266 shares during the period. Finally, Fifth Third Bancorp increased its stake in Stride by 158.8% in the 1st quarter. Fifth Third Bancorp now owns 383 shares of the company's stock worth $48,000 after buying an additional 235 shares in the last quarter. Institutional investors own 98.24% of the company's stock.

Stride Stock Performance

LRN stock traded down $2.3950 during midday trading on Friday, hitting $165.3750. 739,772 shares of the stock traded hands, compared to its average volume of 754,639. The firm has a market cap of $7.22 billion, a P/E ratio of 27.47, a PEG ratio of 0.98 and a beta of 0.10. Stride, Inc. has a 1-year low of $63.25 and a 1-year high of $169.87. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.39 and a quick ratio of 5.27. The stock's fifty day simple moving average is $141.91 and its 200-day simple moving average is $140.01.

Stride (NYSE:LRN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $2.29 EPS for the quarter, beating the consensus estimate of $1.83 by $0.46. The company had revenue of $653.65 million for 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% compared to the same quarter last year. During the same period last year, the company earned $1.42 earnings per share. On average, analysts expect that Stride, Inc. will post 6.67 earnings per share for the current year.

Insider Buying and Selling at Stride

In related news, CEO James Jeaho Rhyu sold 13,961 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer directly owned 706,353 shares of the company's stock, valued at approximately $114,895,378.98. This represents a 1.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on LRN shares. William Blair reissued an "outperform" rating on shares of Stride in a report on Wednesday, April 30th. BMO Capital Markets restated an "outperform" rating on shares of Stride in a research report on Thursday, May 1st. 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 upgraded shares of Stride from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Finally, Canaccord Genuity Group raised 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. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $143.40.

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.