Stride, Inc. $LRN Shares Acquired by Cookson Peirce & Co. Inc.

Key Points

• Cookson Peirce & Co. Inc. increased its stake in Stride, Inc. by 1,399.1% in the second quarter, owning approximately 97,338 shares valued at $14.13 million.
• Stride reported $2.29 EPS for the quarter, exceeding analysts' expectations of $1.83, with a revenue of $653.65 million, up 22.4% year-over-year.
• Analysts have mixed ratings on Stride, with a consensus rating of "Moderate Buy" and a price target of $146.40, reflecting varied outlooks on the company's stock performance.

Cookson Peirce & Co. Inc. grew its stake in Stride, Inc. (NYSE:LRN - Free Report) by 1,399.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 97,338 shares of the company's stock after acquiring an additional 90,845 shares during the quarter. Cookson Peirce & Co. Inc. owned about 0.22% of Stride worth $14,133,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Rezny Wealth Management Inc. increased its stake in shares of Stride by 0.6% in the 2nd quarter. Rezny Wealth Management Inc. now owns 14,152 shares of the company's stock worth $2,055,000 after acquiring an additional 83 shares during the last quarter. Vident Advisory LLC increased its stake in shares of Stride by 2.9% in the 1st quarter. Vident Advisory LLC now owns 2,941 shares of the company's stock worth $372,000 after acquiring an additional 84 shares during the last quarter. Vestcor Inc increased its stake in shares of Stride by 4.6% in the 1st quarter. Vestcor Inc now owns 2,328 shares of the company's stock worth $294,000 after acquiring an additional 102 shares during the last quarter. Maryland State Retirement & Pension System increased its stake in shares of Stride by 0.9% in the 2nd quarter. Maryland State Retirement & Pension System now owns 12,614 shares of the company's stock worth $1,831,000 after acquiring an additional 109 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its stake in shares of Stride by 62.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the company's stock worth $43,000 after acquiring an additional 131 shares during the last quarter. 98.24% of the stock is owned by institutional investors and hedge funds.

Stride Stock Performance

Shares of Stride stock opened at $152.15 on Wednesday. The business has a 50-day moving average of $152.92 and a 200 day moving average of $145.80. Stride, Inc. has a 12 month low of $63.36 and a 12 month high of $171.17. The stock has a market capitalization of $6.64 billion, a price-to-earnings ratio of 25.27, a price-to-earnings-growth ratio of 0.83 and a beta of 0.07. 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 (NYSE:LRN - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $2.29 EPS for the quarter, beating analysts' consensus estimates of $1.83 by $0.46. Stride had a return on equity of 25.51% and a net margin of 11.97%.The company had revenue of $653.65 million during the quarter, compared to analysts' expectations of $626.23 million. During the same period last year, the business posted $1.42 EPS. Stride's revenue for the quarter was up 22.4% on a year-over-year basis. As a group, sell-side analysts forecast that Stride, Inc. will post 6.67 earnings per share for the current year.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, CEO James Jeaho Rhyu sold 13,961 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer directly owned 706,353 shares in the company, valued at $114,895,378.98. This trade represents a 1.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.00% of the stock is owned by company insiders.

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.

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