Price T Rowe Associates Inc. MD Decreases Holdings in Stride, Inc. $LRN

Key Points

• Price T Rowe Associates Inc. MD has reduced its stake in Stride, Inc. by 13.6%, selling 104,145 shares during the first quarter, leaving them with approximately 659,922 shares valued at $83.48 million.
• Stride's CEO, James Jeaho Rhyu, sold 13,961 shares at an average price of $162.66, decreasing his ownership by 1.94%, while maintaining approximately $114.90 million in company stock.
• Stride reported a strong earnings performance with $2.29 EPS, significantly surpassing analyst expectations of $1.83, and a revenue of $653.65 million for the quarter, reflecting a 22.4% increase year-over-year.

Price T Rowe Associates Inc. MD trimmed its stake in Stride, Inc. (NYSE:LRN - Free Report) by 13.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 659,922 shares of the company's stock after selling 104,145 shares during the period. Price T Rowe Associates Inc. MD owned about 1.52% of Stride worth $83,481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its position in shares of Stride by 4,870.2% in the 4th quarter. NewEdge Advisors LLC now owns 2,833 shares of the company's stock worth $294,000 after purchasing an additional 2,776 shares during the period. First Trust Advisors LP lifted its position in shares of Stride by 16.9% in the 4th quarter. First Trust Advisors LP now owns 100,356 shares of the company's stock worth $10,430,000 after purchasing an additional 14,501 shares during the period. MetLife Investment Management LLC raised its stake in shares of Stride by 4.6% during the 4th quarter. MetLife Investment Management LLC now owns 25,708 shares of the company's stock worth $2,672,000 after acquiring an additional 1,133 shares in the last quarter. State of Tennessee Department of Treasury raised its stake in shares of Stride by 56.1% during the 4th quarter. State of Tennessee Department of Treasury now owns 19,196 shares of the company's stock worth $1,995,000 after acquiring an additional 6,895 shares in the last quarter. Finally, Stifel Financial Corp raised its stake in shares of Stride by 15.2% during the 4th quarter. Stifel Financial Corp now owns 14,824 shares of the company's stock worth $1,541,000 after acquiring an additional 1,954 shares in the last quarter. 98.24% of the stock is owned by hedge funds and other institutional investors.

Stride Stock Performance

Stride stock traded down $2.63 during mid-day trading on Friday, reaching $163.03. 634,175 shares of the company traded hands, compared to its average volume of 772,478. 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, Inc. has a fifty-two week low of $63.25 and a fifty-two week high of $171.17. The company has a market capitalization of $7.11 billion, a price-to-earnings ratio of 27.08, a price-to-earnings-growth ratio of 0.99 and a beta of 0.10. The firm's fifty day moving average is $143.82 and its two-hundred day moving average is $140.77.

Stride (NYSE:LRN - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $2.29 earnings per share for the quarter, topping analysts' consensus estimates of $1.83 by $0.46. The firm 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 business's quarterly revenue was up 22.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.42 earnings per share. On average, equities research analysts expect that Stride, Inc. will post 6.67 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on LRN shares. BMO Capital Markets reiterated an "outperform" rating on shares of Stride in a research note on Thursday, May 1st. Barrington Research boosted their price objective on shares of Stride from $170.00 to $185.00 and gave the stock an "outperform" rating in a research note on Friday. Morgan Stanley boosted their price objective on shares of Stride from $148.00 to $159.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Finally, Wall Street Zen lowered shares of Stride from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $146.40.

Insider Transactions at Stride

In other Stride news, CEO James Jeaho Rhyu sold 13,961 shares of the stock in a transaction on Tuesday, August 19th. The shares were 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 of the company's stock, valued at $114,895,378.98. This trade represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company 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.