Livforsakringsbolaget Skandia Omsesidigt Has $4.06 Million Holdings in Stride, Inc. $LRN

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its stake in Stride, Inc. by 21.2%, bringing its total holdings to 28,000 shares valued at approximately $4.06 million.
• Several institutional investors, including Congress Asset Management Co. and Wellington Management Group LLP, have significantly increased their stakes in Stride, indicating growing institutional interest.
• Stride, Inc. reported a 22.4% revenue increase year-over-year, with EPS surpassing consensus estimates by $0.46, reflecting strong financial performance.

Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Stride, Inc. (NYSE:LRN - Free Report) by 21.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,000 shares of the company's stock after purchasing an additional 4,900 shares during the period. Livforsakringsbolaget Skandia Omsesidigt owned 0.06% of Stride worth $4,063,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Larson Financial Group LLC lifted its stake in shares of Stride by 333.3% in the 1st quarter. Larson Financial Group LLC now owns 208 shares of the company's stock worth $26,000 after acquiring an additional 160 shares during the period. First Horizon Advisors Inc. raised its holdings in shares of Stride by 140.5% in the 1st quarter. First Horizon Advisors Inc. now owns 267 shares of the company's stock worth $34,000 after purchasing an additional 156 shares in the last quarter. Harbour Investments Inc. raised its holdings in shares of Stride by 374.6% in the 1st quarter. Harbour Investments Inc. now owns 337 shares of the company's stock worth $43,000 after purchasing an additional 266 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Stride in the 1st quarter worth approximately $43,000. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Stride by 62.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the company's stock worth $43,000 after purchasing an additional 131 shares in the last quarter. 98.24% of the stock is owned by institutional investors and hedge funds.

Stride Stock Performance

Shares of NYSE LRN traded down $0.43 during trading hours on Tuesday, hitting $143.64. 217,434 shares of the stock were exchanged, compared to its average volume of 776,555. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.39 and a quick ratio of 5.27. The company's 50 day moving average is $148.64 and its 200 day moving average is $142.85. The firm has a market capitalization of $6.27 billion, a P/E ratio of 23.88, a P/E/G ratio of 0.83 and a beta of 0.22. Stride, Inc. has a one year low of $63.25 and a one year high of $171.17.

Stride (NYSE:LRN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.46. The business had revenue of $653.65 million during 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%. Stride's quarterly revenue was up 22.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.42 EPS. On average, research analysts expect that Stride, Inc. will post 6.67 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley boosted their price target on shares of Stride from $148.00 to $159.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Barrington Research restated an "outperform" rating and set a $185.00 price target on shares of Stride in a report on Tuesday. Finally, Wall Street Zen upgraded shares of Stride from a "hold" rating to a "buy" rating in a report on Saturday. Four research 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 company currently has an average rating of "Moderate Buy" and a consensus target price of $146.40.

Insider Activity

In related 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 transaction of $2,270,896.26. Following the completion of the sale, the chief executive officer directly owned 706,353 shares of the company's stock, valued at approximately $114,895,378.98. This represents a 1.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.00% of the company's stock.

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.