Driehaus Capital Management LLC Increases Holdings in Stride, Inc. $LRN

Key Points

• Driehaus Capital Management LLC increased its stake in Stride, Inc. by 12.3%, acquiring an additional 67,184 shares, bringing its total holdings to 613,820 shares valued at approximately $77.65 million.
• Stride's recent earnings report showed an EPS of $2.29, exceeding analysts' expectations of $1.83, and revenue of $653.65 million, which was higher than the forecast of $626.23 million.
• Stride's stock has a current market cap of $7.24 billion, with analysts maintaining a consensus rating of "Moderate Buy" and an average price target of $143.40.

Driehaus Capital Management LLC increased its stake in shares of Stride, Inc. (NYSE:LRN - Free Report) by 12.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 613,820 shares of the company's stock after acquiring an additional 67,184 shares during the quarter. Driehaus Capital Management LLC owned about 1.41% of Stride worth $77,648,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Janus Henderson Group PLC boosted its holdings in Stride by 27.6% during the fourth quarter. Janus Henderson Group PLC now owns 1,493,709 shares of the company's stock worth $155,251,000 after buying an additional 323,275 shares in the last quarter. Congress Asset Management Co. grew its stake in Stride by 102.2% during the first quarter. Congress Asset Management Co. now owns 1,169,748 shares of the company's stock worth $147,973,000 after buying an additional 591,208 shares during the period. Deutsche Bank AG boosted its stake in shares of Stride by 10.4% in the first quarter. Deutsche Bank AG now owns 617,894 shares of the company's stock valued at $78,164,000 after purchasing an additional 58,029 shares during the period. Wellington Management Group LLP boosted its stake in shares of Stride by 120.6% in the fourth quarter. Wellington Management Group LLP now owns 607,581 shares of the company's stock valued at $63,146,000 after purchasing an additional 332,098 shares during the period. Finally, Northern Trust Corp boosted its stake in Stride by 1.3% during the 1st quarter. Northern Trust Corp now owns 467,774 shares of the company's stock valued at $59,173,000 after acquiring an additional 5,820 shares during the last quarter. 98.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LRN. Morgan Stanley increased their target price on shares of Stride from $148.00 to $159.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Wall Street Zen lowered shares of Stride from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. Finally, Barrington Research lifted their target price on shares of Stride from $170.00 to $185.00 and gave the company an "outperform" rating in a research note on Friday. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $146.40.

Stride Stock Down 0.8%

Shares of NYSE LRN traded down $1.29 during trading hours on Tuesday, hitting $161.91. The company had a trading volume of 537,461 shares, compared to its average volume of 770,019. Stride, Inc. has a 1-year low of $63.25 and a 1-year high of $171.17. The company has a quick ratio of 5.27, a current ratio of 5.39 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $7.06 billion, a P/E ratio of 26.89, a price-to-earnings-growth ratio of 0.95 and a beta of 0.22. The firm's 50 day moving average is $144.48 and its 200-day moving average is $141.11.

Stride (NYSE:LRN - Get Free Report) last released its 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 for the quarter, compared to analysts' expectations of $626.23 million. Stride had a return on equity of 25.51% and a net margin of 11.97%.The business's revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.42 earnings per share. On average, analysts expect that Stride, Inc. will post 6.67 earnings per share for the current fiscal 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 value 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.00% of the stock is currently owned by insiders.

Stride Company 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.