Livforsakringsbolaget Skandia Omsesidigt Acquires 151,800 Shares of Stride, Inc. $LRN

Key Points

• Livforsakringsbolaget Skandia Omsesidigt significantly increased its stake in Stride, Inc. by 657.1% in the second quarter, now owning 174,900 shares valued at approximately $25.39 million.
• Stride, Inc. reported a 22.4% year-over-year revenue growth with quarterly earnings of $2.29 per share, surpassing analysts' expectations of $1.83.
• Despite these earnings, Stride's stock price has fallen by 11.6% recently, currently trading at around $139.94, down from a high of $171.17 in the past year.

Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Stride, Inc. (NYSE:LRN - Free Report) by 657.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 174,900 shares of the company's stock after acquiring an additional 151,800 shares during the period. Livforsakringsbolaget Skandia Omsesidigt owned 0.40% of Stride worth $25,394,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. MRA Advisory Group increased its position in shares of Stride by 29.9% in the second quarter. MRA Advisory Group now owns 4,553 shares of the company's stock worth $661,000 after purchasing an additional 1,048 shares during the period. TrueWealth Advisors LLC bought a new position in Stride in the 2nd quarter valued at about $510,000. Swedbank AB increased its holdings in Stride by 5.4% in the 1st quarter. Swedbank AB now owns 1,009,726 shares of the company's stock valued at $127,730,000 after buying an additional 52,000 shares during the period. Cim LLC increased its holdings in Stride by 173.0% in the 1st quarter. Cim LLC now owns 18,536 shares of the company's stock valued at $2,345,000 after buying an additional 11,747 shares during the period. Finally, Inspire Investing LLC bought a new position in Stride in the 1st quarter valued at about $792,000. Institutional investors own 98.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on LRN shares. Wall Street Zen raised shares of Stride from a "hold" rating to a "buy" rating in a research note on Saturday. Morgan Stanley boosted their price target on Stride from $148.00 to $159.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Finally, Barrington Research boosted their price target on Stride from $170.00 to $185.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $146.40.

Stride Trading Up 0.9%

Shares of Stride stock traded up $1.20 during trading on Friday, hitting $142.07. The company's stock had a trading volume of 1,132,645 shares, compared to its average volume of 760,015. The stock has a 50-day moving average price of $148.46 and a two-hundred day moving average price of $142.63. Stride, Inc. has a 52 week low of $63.25 and a 52 week high of $171.17. The stock has a market cap of $6.20 billion, a price-to-earnings ratio of 23.60, a price-to-earnings-growth ratio of 0.82 and a beta of 0.22. 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 (NYSE:LRN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $2.29 EPS for the quarter, beating analysts' consensus estimates of $1.83 by $0.46. The company had revenue of $653.65 million for the quarter, compared to analyst estimates of $626.23 million. Stride had a net margin of 11.97% and a return on equity of 25.51%. The company's quarterly revenue was up 22.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.42 EPS. Equities research analysts anticipate that Stride, Inc. will post 6.67 EPS for the current fiscal year.

Insider Activity

In other Stride news, CEO James Jeaho Rhyu sold 13,961 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 706,353 shares in the company, 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 link. 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.