5,155 Shares in Stride, Inc. (NYSE:LRN) Acquired by Norden Group LLC

Key Points

• Norden Group LLC acquired 5,155 shares of Stride, Inc. for approximately $652,000, indicating growing institutional interest in the company.
• Stride, Inc. reported a quarterly earnings miss with an EPS of $2.02, falling short of the $2.09 consensus estimate, but revenue increased by 17.8% compared to the previous year.
• Wall Street analysts have a consensus rating of "Moderate Buy" on Stride, with six analysts rating it as a buy and a price target of $126.83.

Norden Group LLC acquired a new stake in shares of Stride, Inc. (NYSE:LRN - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 5,155 shares of the company's stock, valued at approximately $652,000.

A number of other large investors also recently bought and sold shares of LRN. Larson Financial Group LLC raised its position 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 in the last quarter. First Horizon Advisors Inc. raised its position 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 in the last quarter. Fifth Third Bancorp raised its position 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 in the last quarter. CIBC Private Wealth Group LLC raised its position in shares of Stride by 85.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 386 shares of the company's stock worth $42,000 after acquiring an additional 178 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in Stride during the 4th quarter worth $41,000. Hedge funds and other institutional investors own 98.24% of the company's stock.

Stride Price Performance

NYSE LRN traded up $1.12 during trading hours on Friday, reaching $129.35. The company's stock had a trading volume of 518,124 shares, compared to its average volume of 768,706. The company's 50-day moving average is $140.27 and its two-hundred day moving average is $136.62. 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 $5.63 billion, a price-to-earnings ratio of 20.18, a P/E/G ratio of 0.83 and a beta of 0.32. The company has a debt-to-equity ratio of 0.33, a current ratio of 5.61 and a quick ratio of 5.53.

Stride (NYSE:LRN - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $2.02 EPS for the quarter, missing analysts' consensus estimates of $2.09 by ($0.07). Stride had a net margin of 13.10% and a return on equity of 23.36%. The firm had revenue of $613.38 million for the quarter, compared to analyst estimates of $591.15 million. During the same period in the previous year, the company earned $1.60 EPS. Stride's revenue 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 recently weighed in on LRN shares. Barrington Research restated an "outperform" rating and set a $170.00 target price on shares of Stride in a research note on Thursday, July 24th. BMO Capital Markets reiterated an "outperform" rating on shares of Stride in a research note on Thursday, May 1st. Canaccord Genuity Group boosted their price target on Stride from $145.00 to $155.00 and gave the company a "buy" rating in a research note on Monday, April 28th. Wall Street Zen upgraded Stride from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Finally, William Blair reiterated an "outperform" rating on shares of Stride in a research note on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.