LGT Fund Management Co Ltd. Invests $2.47 Million in Stride, Inc. (NYSE:LRN)

Key Points

• LGT Fund Management Co Ltd. acquired 19,500 shares of Stride, Inc. for approximately $2,467,000 in the first quarter, marking a significant investment in the company.
• Stride, Inc. reported earnings per share of $2.29 for the last quarter, exceeding analysts' expectations of $1.83 and reflecting a 22.4% revenue increase year-over-year.
• Analysts maintain a generally positive outlook on Stride, with an average rating of "Moderate Buy" and a price target of $143.40.

LGT Fund Management Co Ltd. acquired a new stake in Stride, Inc. (NYSE:LRN - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 19,500 shares of the company's stock, valued at approximately $2,467,000.

Other large investors have also recently bought and sold shares of the company. DAVENPORT & Co LLC acquired a new stake in Stride during the 1st quarter valued at $461,000. Canandaigua National Bank & Trust Co. acquired a new stake in shares of Stride during the first quarter worth $273,000. GAMMA Investing LLC boosted its holdings in shares of Stride by 14,892.4% during the first quarter. GAMMA Investing LLC now owns 370,013 shares of the company's stock worth $46,807,000 after purchasing an additional 367,545 shares during the last quarter. Kestra Private Wealth Services LLC acquired a new stake in shares of Stride during the first quarter worth $771,000. Finally, Keybank National Association OH boosted its holdings in shares of Stride by 65.8% during the first quarter. Keybank National Association OH now owns 6,413 shares of the company's stock worth $811,000 after purchasing an additional 2,544 shares during the last quarter. Institutional investors and hedge funds own 98.24% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Wall Street Zen upgraded Stride from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. BMO Capital Markets restated an "outperform" rating on shares of Stride in a report on Thursday, May 1st. Barrington Research restated an "outperform" rating and set a $170.00 price objective on shares of Stride in a report on Thursday, July 24th. Canaccord Genuity Group raised their price objective on Stride from $145.00 to $155.00 and gave the stock a "buy" rating in a report on Monday, April 28th. Finally, Morgan Stanley raised their price objective on Stride from $148.00 to $159.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $143.40.

Stride Stock Up 0.4%

NYSE:LRN traded up $0.56 during mid-day trading on Thursday, hitting $158.91. The company had a trading volume of 51,010 shares, compared to its average volume of 779,784. The business has a fifty day simple moving average of $139.06 and a 200-day simple moving average of $138.42. The company has a current ratio of 5.39, a quick ratio of 5.27 and a debt-to-equity ratio of 0.31. Stride, Inc. has a 1 year low of $63.25 and a 1 year high of $162.30. The firm has a market capitalization of $6.93 billion, a price-to-earnings ratio of 26.44, a PEG ratio of 0.92 and a beta of 0.10.

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. Stride had a return on equity of 25.51% and a net margin of 11.97%. The company had revenue of $653.65 million for the quarter, compared to analyst estimates of $626.23 million. During the same period last year, the company posted $1.42 earnings per share. The firm's revenue was up 22.4% compared to the same quarter last year. Equities analysts forecast that Stride, Inc. will post 6.67 earnings per share for the current fiscal year.

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.