Financiere des Professionnels Fonds d investissement inc. Invests $521,000 in Stride, Inc. $LRN

Key Points

• Financiere des Professionnels Fonds d'investissement inc. acquired 3,590 shares of Stride, Inc. for approximately $521,000 in the second quarter, reflecting a growing interest among institutional investors.
• Stride, Inc. has experienced significant increases in ownership stakes, including a 102.2% increase from Congress Asset Management Co. and a 14,892.4% increase from GAMMA Investing LLC.
• Analysts have shown mixed sentiments towards Stride, with reports indicating a "hold" rating from Wall Street Zen and an upped price target from Barrington Research, now at $185.00.

Financiere des Professionnels Fonds d investissement inc. acquired a new stake in Stride, Inc. (NYSE:LRN - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 3,590 shares of the company's stock, valued at approximately $521,000.

Other hedge funds have also recently bought and sold shares of the company. Vident Advisory LLC increased its stake in Stride by 2.9% during the 1st quarter. Vident Advisory LLC now owns 2,941 shares of the company's stock valued at $372,000 after buying an additional 84 shares during the period. Vestcor Inc increased its stake in Stride by 4.6% during the 1st quarter. Vestcor Inc now owns 2,328 shares of the company's stock valued at $294,000 after buying an additional 102 shares during the period. Geneos Wealth Management Inc. increased its stake in Stride by 62.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the company's stock valued at $43,000 after buying an additional 131 shares during the period. First Horizon Advisors Inc. increased its stake in Stride by 140.5% during the 1st quarter. First Horizon Advisors Inc. now owns 267 shares of the company's stock valued at $34,000 after buying an additional 156 shares during the period. Finally, Larson Financial Group LLC increased its stake in Stride by 333.3% during the 1st quarter. Larson Financial Group LLC now owns 208 shares of the company's stock valued at $26,000 after buying an additional 160 shares during the period. 98.24% of the stock is currently owned by institutional investors.

Stride Stock Up 0.9%

NYSE LRN traded up $1.20 during trading on Friday, reaching $142.07. The company's stock had a trading volume of 1,132,645 shares, compared to its average volume of 760,015. 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 stock has a market capitalization of $6.20 billion, a PE ratio of 23.60, a PEG ratio of 0.83 and a beta of 0.22. The business has a 50-day moving average price of $148.46 and a 200-day moving average price of $142.64. Stride, Inc. has a 1-year low of $63.25 and a 1-year high of $171.17.

Stride (NYSE:LRN - Get Free Report) last posted 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 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%. The company's revenue was up 22.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.42 earnings per share. On average, research analysts forecast that Stride, Inc. will post 6.67 earnings per share for the current fiscal year.

Insider Transactions at Stride

In other Stride news, CEO James Jeaho Rhyu sold 13,961 shares of Stride stock in a transaction that occurred 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 directly owned 706,353 shares in the company, valued at $114,895,378.98. The trade was a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

LRN has been the topic of several recent research reports. Barrington Research lifted their price objective on shares of Stride from $170.00 to $185.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. Wall Street Zen raised shares of Stride from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Morgan Stanley lifted their price objective on shares of Stride from $148.00 to $159.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $146.40.

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.