Stride, Inc. $LRN Shares Newly Bought by Aberdeen Group plc

Key Points

• Aberdeen Group plc acquired 1.74 million Stride shares in the third quarter, worth about $135.6 million and representing a 4.14% stake.
• Stride insiders bought 513,318 shares valued at about $39.6 million over the past 90 days; two directors were among the purchasers.
• Stride reported quarterly EPS of $1.37, beating the $1.07 consensus, while revenue of $639.4 million also topped estimates. Analysts’ average rating was “Moderate Buy,” with a $106.25 average price target.

Aberdeen Group plc bought a new stake in shares of Stride, Inc. (NYSE:LRN - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,739,035 shares of the company's stock, valued at approximately $135,610,000. Aberdeen Group plc owned 4.14% of Stride at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its holdings in shares of Stride by 108.7% in the first quarter. EverSource Wealth Advisors LLC now owns 432 shares of the company's stock worth $38,000 after purchasing an additional 225 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in Stride during the second quarter valued at approximately $46,000. Caitlin John LLC bought a new position in Stride during the second quarter valued at approximately $49,000. John Boyer Inc. bought a new position in Stride during the third quarter valued at approximately $67,000. Finally, Bard Associates Inc. purchased a new position in Stride during the 2nd quarter valued at approximately $88,000. Institutional investors own 98.24% of the company's stock.

Insider Activity at Stride

In related news, Director Dylan Haggart bought 108,273 shares of the company's stock in a transaction on Thursday, November 5th. The shares were acquired at an average price of $74.83 per share, with a total value of $8,102,068.59. Following the transaction, the director owned 2,236,033 shares of the company's stock, valued at $167,322,349.39. The trade was a 5.09% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Brian A. Shepherd acquired 10,000 shares of the company's stock in a transaction that occurred on Tuesday, November 3rd. The shares were bought at an average cost of $74.95 per share, for a total transaction of $749,500.00. Following the transaction, the director owned 23,094 shares of the company's stock, valued at $1,730,895.30. This represents a 76.37% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought a total of 513,318 shares of company stock valued at $39,585,565 in the last ninety days. Corporate insiders own 4.90% of the company's stock.

Stride Trading Up 0.6%

Shares of NYSE:LRN traded up $0.42 on Friday, hitting $75.71. 630,095 shares of the company's stock were exchanged, compared to its average volume of 1,112,252. Stride, Inc. has a 12 month low of $60.61 and a 12 month high of $103.67. The stock has a market capitalization of $3.18 billion, a price-to-earnings ratio of 10.44, a price-to-earnings-growth ratio of 0.42 and a beta of 0.16. The business's 50 day simple moving average is $79.55 and its two-hundred day simple moving average is $86.01. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.56 and a quick ratio of 2.53.

Stride (NYSE:LRN - Get Free Report) last posted its quarterly earnings results on Tuesday, October 20th. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.30. The firm had revenue of $639.38 million during the quarter, compared to the consensus estimate of $612.25 million. Stride had a net margin of 13.18% and a return on equity of 22.06%. The company's revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.40 earnings per share. Analysts anticipate that Stride, Inc. will post 9.04 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Stride from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, October 16th. William Blair lowered shares of Stride from an "outperform" rating to a "market perform" rating in a research report on Thursday, July 30th. Zacks Research raised shares of Stride from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 28th. Barrington Research reduced their target price on shares of Stride from $125.00 to $115.00 and set an "outperform" rating on the stock in a report on Friday, October 23rd. Finally, BMO Capital Markets reduced their target price on shares of Stride from $93.00 to $90.00 and set a "market perform" rating on the stock in a report on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $106.25.

About Stride

Stride, Inc. is an education technology company that provides online and blended learning programs, curriculum, and related services. Its offerings support students from kindergarten through high school, as well as learners pursuing career-focused education. The company works with public school districts and other education partners to deliver virtual and hybrid instruction. Its programs include online courses, teacher-led instruction, and career learning pathways designed to help students build skills for further education and employment.

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