Stride, Inc. (NYSE:LRN) Shares Sold by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt lowered its position in Stride, Inc. (NYSE:LRN - Free Report) by 35.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,100 shares of the company's stock after selling 12,900 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt owned about 0.05% of Stride worth $2,921,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of LRN. Point72 Hong Kong Ltd purchased a new stake in shares of Stride in the fourth quarter valued at about $41,000. CIBC Private Wealth Group LLC grew its holdings in shares of Stride by 85.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 386 shares of the company's stock valued at $42,000 after purchasing an additional 178 shares during the period. Covestor Ltd grew its holdings in shares of Stride by 51.6% in the fourth quarter. Covestor Ltd now owns 632 shares of the company's stock valued at $66,000 after purchasing an additional 215 shares during the period. Gen Wealth Partners Inc purchased a new stake in shares of Stride in the fourth quarter valued at about $75,000. Finally, C M Bidwell & Associates Ltd. purchased a new stake in shares of Stride in the fourth quarter valued at about $77,000. Hedge funds and other institutional investors own 98.24% of the company's stock.

Stride Stock Up 0.8%

Shares of NYSE LRN traded up $1.10 during midday trading on Friday, hitting $143.06. The company's stock had a trading volume of 486,743 shares, compared to its average volume of 854,785. The business's fifty day simple moving average is $146.04 and its two-hundred day simple moving average is $129.61. The company has a debt-to-equity ratio of 0.35, a current ratio of 6.02 and a quick ratio of 5.93. 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 $6.23 billion, a price-to-earnings ratio of 23.88, a price-to-earnings-growth ratio of 1.04 and a beta of 0.35.

Stride (NYSE:LRN - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $2.02 EPS for the quarter, missing the consensus estimate of $2.09 by ($0.07). Stride had a net margin of 12.30% and a return on equity of 22.42%. The business had revenue of $613.38 million during the quarter, compared to analysts' expectations of $591.15 million. During the same period in the previous year, the business posted $1.60 EPS. The company's revenue for the quarter was up 17.8% compared to the same quarter last year. On average, equities analysts predict that Stride, Inc. will post 6.67 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Canaccord Genuity Group increased their target price on shares of Stride from $145.00 to $155.00 and gave the stock a "buy" rating in a research note on Monday, April 28th. Wall Street Zen lowered shares of Stride from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Barrington Research increased their target price on shares of Stride from $150.00 to $170.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. William Blair reaffirmed an "outperform" rating on shares of Stride in a research note on Wednesday, April 30th. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Stride in a research note on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $126.83.

About Stride

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.