Stride, Inc. $LRN Shares Acquired by LGT Fund Management Co Ltd.

Key Points

• LGT Fund Management Co Ltd. increased its stake in Stride, Inc. by 29.5% in Q2, owning approximately 0.06% of the company worth $3.67 million after acquiring an additional 5,750 shares.
• Stride reported $2.29 earnings per share in its latest quarterly results, surpassing the consensus estimate by $0.46, with a revenue of $653.65 million, a 22.4% year-over-year increase.
• Wall Street analysts have mixed reviews on Stride's stock, with reports suggesting a "Moderate Buy" rating and a target price of $146.40, while some analysts have raised their price objectives recently.

LGT Fund Management Co Ltd. increased its stake in Stride, Inc. (NYSE:LRN - Free Report) by 29.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,250 shares of the company's stock after buying an additional 5,750 shares during the quarter. LGT Fund Management Co Ltd. owned about 0.06% of Stride worth $3,666,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. 111 Capital acquired a new stake in shares of Stride in the second quarter valued at about $274,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of Stride by 5.0% in the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 4,320 shares of the company's stock valued at $627,000 after buying an additional 207 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Stride in the second quarter valued at about $245,000. Robeco Institutional Asset Management B.V. grew its stake in shares of Stride by 703.0% in the second quarter. Robeco Institutional Asset Management B.V. now owns 26,233 shares of the company's stock valued at $3,809,000 after buying an additional 22,966 shares in the last quarter. Finally, Mountain Pacific Investment Advisers LLC acquired a new stake in shares of Stride in the second quarter valued at about $5,409,000. Institutional investors and hedge funds own 98.24% of the company's stock.

Stride Trading Down 1.1%

Shares of NYSE LRN opened at $143.66 on Friday. The company has a market cap of $6.27 billion, a price-to-earnings ratio of 23.86, a price-to-earnings-growth ratio of 0.82 and a beta of 0.07. Stride, Inc. has a 12-month low of $63.25 and a 12-month high of $171.17. The company has a current ratio of 5.39, a quick ratio of 5.27 and a debt-to-equity ratio of 0.31. The stock's 50 day simple moving average is $151.23 and its 200 day simple moving average is $144.15.

Stride (NYSE:LRN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.46. The business had revenue of $653.65 million for 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 was up 22.4% on a year-over-year basis. During the same quarter last year, the business posted $1.42 EPS. Equities research analysts expect that Stride, Inc. will post 6.67 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on LRN shares. Barrington Research reiterated an "outperform" rating and issued a $185.00 target price on shares of Stride in a research note on Tuesday, September 23rd. Weiss Ratings restated a "buy (b)" rating on shares of Stride in a research note on Saturday, September 27th. Wall Street Zen lowered Stride from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Morgan Stanley raised their price objective on Stride from $148.00 to $159.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Stride has an average rating of "Moderate Buy" and an average target price of $146.40.

Insiders Place Their Bets

In other Stride news, CEO James Jeaho Rhyu sold 13,961 shares of Stride 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 sale, the chief executive officer owned 706,353 shares of the company's stock, valued at $114,895,378.98. The trade was a 1.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.00% of the stock is owned by insiders.

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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