Jump Financial LLC Lowers Stake in Stride, Inc. $LRN

Key Points

• Jump Financial LLC has reduced its stake in Stride, Inc. by 64.0%, now holding 26,102 shares valued at approximately $3.3 million after selling 46,399 shares.
• Stride, Inc. reported a Q2 EPS of $2.29, beating estimates of $1.83, with revenue up 22.4% year-over-year, totaling $653.65 million.
• Analysts have a consensus rating of "Moderate Buy" for Stride, with an average price target of $143.40, and recent upgrades from firms like Canaccord Genuity and Morgan Stanley.

Jump Financial LLC lowered its stake in shares of Stride, Inc. (NYSE:LRN - Free Report) by 64.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,102 shares of the company's stock after selling 46,399 shares during the period. Jump Financial LLC owned 0.06% of Stride worth $3,302,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Vestcor Inc lifted its holdings in Stride by 4.6% during the first quarter. Vestcor Inc now owns 2,328 shares of the company's stock worth $294,000 after buying an additional 102 shares during the period. Bosun Asset Management LLC grew its holdings in Stride by 1.4% in the fourth quarter. Bosun Asset Management LLC now owns 8,292 shares of the company's stock worth $862,000 after purchasing an additional 111 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in Stride by 140.5% in the first quarter. First Horizon Advisors Inc. now owns 267 shares of the company's stock worth $34,000 after purchasing an additional 156 shares during the last quarter. Larson Financial Group LLC grew its holdings in 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. Finally, PNC Financial Services Group Inc. grew its holdings in Stride by 2.4% in the first quarter. PNC Financial Services Group Inc. now owns 7,111 shares of the company's stock worth $900,000 after purchasing an additional 164 shares during the last quarter. Hedge funds and other institutional investors own 98.24% of the company's stock.

Stride Stock Up 0.7%

LRN stock opened at $166.37 on Tuesday. The firm's fifty day simple moving average is $142.37 and its 200-day simple moving average is $140.19. The company has a market capitalization of $7.26 billion, a P/E ratio of 27.64, a price-to-earnings-growth ratio of 0.97 and a beta of 0.10. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.39 and a quick ratio of 5.27. Stride, Inc. has a 12 month low of $63.25 and a 12 month high of $169.87.

Stride (NYSE:LRN - Get Free Report) last released 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 business had revenue of $653.65 million for the quarter, compared to the consensus estimate of $626.23 million. Stride had a net margin of 11.97% and a return on equity of 25.51%. The business's revenue for the quarter was up 22.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.42 EPS. As a group, equities research analysts forecast that Stride, Inc. will post 6.67 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on LRN shares. William Blair reaffirmed an "outperform" rating on shares of Stride in a report on Wednesday, April 30th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Stride in a report on Thursday, May 1st. Canaccord Genuity Group lifted their price target on shares of Stride from $145.00 to $155.00 and gave the stock a "buy" rating in a report on Monday, April 28th. Wall Street Zen lowered shares of Stride from a "buy" rating to a "hold" rating in a report on Friday. Finally, Morgan Stanley lifted their price target 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. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $143.40.

Insider Buying and Selling at Stride

In other 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 transaction 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 $114,895,378.98. The trade was a 1.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.00% of the stock is currently owned by company 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.

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