Stride, Inc. $LRN Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC significantly reduced its stake in Stride, Inc. by 46.5%, leaving it with approximately 25,767 shares valued at $3.23 million.
• Stride, Inc.'s quarterly earnings beat analysts' estimates, reporting an EPS of $2.29 and revenue of $653.65 million, reflecting a 22.4% increase year-over-year.
• Despite the earnings beat, evaluations from analysts vary, with Wall Street Zen downgrading Stride to a "hold" rating, while other analysts remain optimistic about the stock's potential.

Hsbc Holdings PLC decreased its stake in shares of Stride, Inc. (NYSE:LRN - Free Report) by 46.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,767 shares of the company's stock after selling 22,352 shares during the period. Hsbc Holdings PLC owned about 0.06% of Stride worth $3,233,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. NewEdge Advisors LLC lifted its stake in shares of Stride by 4,870.2% in the 4th quarter. NewEdge Advisors LLC now owns 2,833 shares of the company's stock worth $294,000 after purchasing an additional 2,776 shares during the period. First Trust Advisors LP lifted its stake in shares of Stride by 16.9% in the 4th quarter. First Trust Advisors LP now owns 100,356 shares of the company's stock worth $10,430,000 after purchasing an additional 14,501 shares during the period. State of Tennessee Department of Treasury lifted its stake in shares of Stride by 56.1% in the 4th quarter. State of Tennessee Department of Treasury now owns 19,196 shares of the company's stock worth $1,995,000 after purchasing an additional 6,895 shares during the period. Stifel Financial Corp lifted its stake in shares of Stride by 15.2% in the 4th quarter. Stifel Financial Corp now owns 14,824 shares of the company's stock worth $1,541,000 after purchasing an additional 1,954 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Stride in the 4th quarter worth approximately $1,209,000. Institutional investors own 98.24% of the company's stock.

Analyst Ratings Changes

LRN has been the subject of several analyst reports. Wall Street Zen lowered shares of Stride from a "buy" rating to a "hold" rating in a report on Friday, August 22nd. 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. Barrington Research increased their target price on shares of Stride from $170.00 to $185.00 and gave the stock an "outperform" rating in a report on Friday. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Stride in a report on Thursday, May 1st. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Stride has an average rating of "Moderate Buy" and an average target price of $146.40.

Stride Price Performance

LRN traded down $2.63 during trading on Friday, reaching $163.03. 634,175 shares of the company traded hands, compared to its average volume of 793,404. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.27 and a current ratio of 5.39. Stride, Inc. has a 12-month low of $63.25 and a 12-month high of $171.17. The firm has a fifty day simple moving average of $144.16 and a 200 day simple moving average of $140.94. The company has a market cap of $7.11 billion, a P/E ratio of 27.08, a PEG ratio of 0.97 and a beta of 0.10.

Stride (NYSE:LRN - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $2.29 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 the consensus estimate of $626.23 million. Stride had a return on equity of 25.51% and a net margin of 11.97%.The company's quarterly revenue was up 22.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.42 EPS. On average, equities analysts forecast that Stride, Inc. will post 6.67 EPS for the current year.

Insider Buying and Selling at Stride

In other news, CEO James Jeaho Rhyu sold 13,961 shares of Stride stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $162.66, for a total transaction 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 approximately $114,895,378.98. This trade represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.00% of the company's stock.

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.