Northern Trust Corp Grows Stock Position in Stride, Inc. $LRN

Key Points

• Northern Trust Corp increased its stake in Stride, Inc. by 1.3%, owning approximately 1.07% of the company with a total value of $59.17 million at the end of the quarter.
• Stride reported quarterly earnings of $2.29 per share, surpassing analysts' expectations by $0.46, and a revenue of $653.65 million, a 22.4% increase from the previous year.
• Analysts have varying ratings on Stride, with Morgan Stanley raising its target price to $159.00 and Barrington Research setting a price target of $170.00.

Northern Trust Corp boosted its position in shares of Stride, Inc. (NYSE:LRN - Free Report) by 1.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 467,774 shares of the company's stock after buying an additional 5,820 shares during the period. Northern Trust Corp owned 1.07% of Stride worth $59,173,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in LRN. NewEdge Advisors LLC increased its position in Stride by 4,870.2% during the fourth quarter. NewEdge Advisors LLC now owns 2,833 shares of the company's stock worth $294,000 after buying an additional 2,776 shares during the period. First Trust Advisors LP increased its position in Stride by 16.9% during the fourth quarter. First Trust Advisors LP now owns 100,356 shares of the company's stock worth $10,430,000 after buying an additional 14,501 shares during the period. State of Tennessee Department of Treasury increased its position in Stride by 56.1% during the fourth quarter. State of Tennessee Department of Treasury now owns 19,196 shares of the company's stock worth $1,995,000 after buying an additional 6,895 shares during the period. Stifel Financial Corp increased its holdings in shares of Stride by 15.2% in the fourth quarter. Stifel Financial Corp now owns 14,824 shares of the company's stock valued at $1,541,000 after purchasing an additional 1,954 shares during the period. Finally, Hsbc Holdings PLC raised its stake in shares of Stride by 692.7% during the fourth quarter. Hsbc Holdings PLC now owns 48,119 shares of the company's stock worth $5,043,000 after purchasing an additional 42,049 shares during the last quarter. Institutional investors and hedge funds own 98.24% of the company's stock.

Insiders Place Their Bets

In related news, CEO James Jeaho Rhyu sold 13,961 shares of the business's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $162.66, for a total value of $2,270,896.26. Following the completion of the transaction, the chief executive officer owned 706,353 shares of the company's stock, valued at approximately $114,895,378.98. The trade was a 1.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.00% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Morgan Stanley upped their price target on Stride from $148.00 to $159.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. BMO Capital Markets restated an "outperform" rating on shares of Stride in a research note on Thursday, May 1st. Wall Street Zen cut Stride from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. Finally, Barrington Research upped their price target on Stride from $170.00 to $185.00 and gave the stock an "outperform" rating in a research note on Friday. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Stride presently has a consensus rating of "Moderate Buy" and a consensus price target of $146.40.

Stride Price Performance

Shares of NYSE:LRN traded down $2.63 on Friday, hitting $163.03. The company had a trading volume of 634,175 shares, compared to its average volume of 793,404. The business has a 50 day moving average of $144.16 and a 200 day moving average of $140.94. Stride, Inc. has a 52-week low of $63.25 and a 52-week high of $171.17. The company has a market cap of $7.11 billion, a PE ratio of 27.08, a PEG ratio of 0.97 and a beta of 0.10. The company has a current ratio of 5.39, a quick ratio of 5.27 and a debt-to-equity ratio of 0.31.

Stride (NYSE:LRN - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.46. Stride had a net margin of 11.97% and a return on equity of 25.51%. The firm had revenue of $653.65 million during the quarter, compared to the consensus estimate of $626.23 million. During the same quarter in the previous year, the company posted $1.42 EPS. The firm's revenue for the quarter was up 22.4% on a year-over-year basis. As a group, equities analysts anticipate that Stride, Inc. will post 6.67 earnings per share for the current fiscal year.

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.