Straight Path Wealth Management Buys Shares of 2,117 Stride, Inc. $LRN

Key Points

• Straight Path Wealth Management has purchased 2,117 shares of Stride, Inc. (NYSE:LRN), valued at approximately $307,000 during the second quarter.
• Institutional investors now own 98.24% of Stride's stock, with multiple firms adding new stakes or increasing their positions in the company.
• Analyst ratings on Stride have varied, with some firms reaffirming buy ratings, while others have downgraded their outlook, indicating a consensus rating of "Moderate Buy" with an average target price of $146.40.

Straight Path Wealth Management bought a new stake in Stride, Inc. (NYSE:LRN - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,117 shares of the company's stock, valued at approximately $307,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Inspire Investing LLC acquired a new stake in Stride in the 1st quarter valued at approximately $792,000. DAVENPORT & Co LLC bought a new stake in shares of Stride during the first quarter valued at approximately $461,000. Swedbank AB increased its position in shares of Stride by 5.4% during the first quarter. Swedbank AB now owns 1,009,726 shares of the company's stock valued at $127,730,000 after purchasing an additional 52,000 shares during the period. United Services Automobile Association bought a new stake in shares of Stride during the first quarter valued at approximately $326,000. Finally, Canandaigua National Bank & Trust Co. bought a new stake in shares of Stride during the first quarter valued at approximately $273,000. Institutional investors and hedge funds own 98.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on LRN shares. Wall Street Zen cut Stride from a "buy" rating to a "hold" rating in a research report on Saturday, October 4th. Morgan Stanley boosted their price target on Stride from $148.00 to $159.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Stride in a research note on Wednesday, October 8th. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $185.00 price target on shares of Stride in a research note on Tuesday, September 23rd. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $146.40.

Insider Buying and Selling at Stride

In other news, CEO James Jeaho Rhyu sold 13,961 shares of the business's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $162.66, for a total transaction of $2,270,896.26. Following the completion of the sale, the chief executive officer owned 706,353 shares in the company, valued at $114,895,378.98. The trade was a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.00% of the stock is currently owned by insiders.

Stride Trading Down 3.7%

Shares of LRN opened at $140.82 on Friday. The stock has a fifty day moving average price of $153.20 and a two-hundred day moving average price of $145.30. 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, Inc. has a 52-week low of $63.25 and a 52-week high of $171.17. The company has a market cap of $6.14 billion, a price-to-earnings ratio of 23.39, a PEG ratio of 0.83 and a beta of 0.07.

Stride (NYSE:LRN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.46. The firm had revenue of $653.65 million during the quarter, compared to the consensus estimate of $626.23 million. Stride had a return on equity of 25.51% and a net margin of 11.97%.The business's revenue for the quarter 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. Analysts predict that Stride, Inc. will post 6.67 EPS for the current fiscal 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.

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