Montanaro Asset Management Ltd Sells 42,900 Shares of Stride, Inc. (NYSE:LRN)

Key Points

• Montanaro Asset Management Ltd reduced its stake in Stride, Inc. by 23.4% during the first quarter, now holding 140,600 shares valued at approximately $17.79 million.
• Stride, Inc. reported an earnings per share (EPS) of $2.29 for the last quarter, surpassing analysts' expectations of $1.83, and showing a 22.4% revenue growth year-over-year.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Stride, with an average price target of $143.40, reflecting a positive outlook for the stock's future performance.

Montanaro Asset Management Ltd reduced its holdings in Stride, Inc. (NYSE:LRN - Free Report) by 23.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 140,600 shares of the company's stock after selling 42,900 shares during the quarter. Stride makes up 5.2% of Montanaro Asset Management Ltd's portfolio, making the stock its 2nd biggest position. Montanaro Asset Management Ltd owned approximately 0.32% of Stride worth $17,786,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of LRN. Larson Financial Group LLC increased its holdings 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. increased 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 acquiring an additional 156 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Stride in the 4th quarter worth about $41,000. Harbour Investments Inc. increased 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 acquiring an additional 266 shares during the period. Finally, Fifth Third Bancorp increased its holdings in shares of Stride by 158.8% in the 1st quarter. Fifth Third Bancorp now owns 383 shares of the company's stock worth $48,000 after acquiring an additional 235 shares during the period. 98.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on LRN. William Blair reaffirmed an "outperform" rating on shares of Stride in a report on Wednesday, April 30th. BMO Capital Markets restated an "outperform" rating on shares of Stride in a research report on Thursday, May 1st. Canaccord Genuity Group boosted their price target on shares of Stride from $145.00 to $155.00 and gave the stock a "buy" rating in a research report on Monday, April 28th. Wall Street Zen upgraded shares of Stride from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Finally, Barrington Research restated an "outperform" rating and set a $170.00 price target on shares of Stride in a research report on Thursday, July 24th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, Stride currently has a consensus rating of "Moderate Buy" and a consensus target price of $143.40.

Stride Price Performance

Shares of LRN stock traded down $1.12 during midday trading on Thursday, reaching $157.23. 495,394 shares of the company were exchanged, compared to its average volume of 766,976. Stride, Inc. has a 12 month low of $63.25 and a 12 month high of $162.30. The company has a market cap of $6.86 billion, a P/E ratio of 26.12, a PEG ratio of 0.93 and a beta of 0.10. The company's 50 day moving average price is $139.32 and its two-hundred day moving average price is $138.69. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.27 and a current ratio of 5.39.

Stride (NYSE:LRN - Get Free Report) last announced 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 company had revenue of $653.65 million for the quarter, compared to analysts' expectations of $626.23 million. Stride had a net margin of 11.97% and a return on equity of 25.51%. The business's revenue was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.42 EPS. On average, sell-side analysts expect that Stride, Inc. will post 6.67 earnings per share for the current year.

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.