Erste Asset Management GmbH Decreases Stock Holdings in Stride, Inc. $LRN

Key Points

• Erste Asset Management GmbH reduced its stake in Stride, Inc. by 22.3%, now holding 65,821 shares worth approximately $8.33 million.
• A remarkable 102.2% stake increase was reported by Congress Asset Management Co., now owning 1,169,748 shares of Stride valued at around $147.97 million.
• Stride's recent earnings exceeded expectations, with reported $2.29 EPS for the quarter, surpassing the consensus estimate of $1.83.

Erste Asset Management GmbH reduced its holdings in shares of Stride, Inc. (NYSE:LRN - Free Report) by 22.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 65,821 shares of the company's stock after selling 18,928 shares during the period. Erste Asset Management GmbH owned about 0.15% of Stride worth $8,334,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Larson Financial Group LLC increased its holdings in Stride by 333.3% during the first quarter. Larson Financial Group LLC now owns 208 shares of the company's stock valued at $26,000 after buying an additional 160 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in Stride by 140.5% during the first quarter. First Horizon Advisors Inc. now owns 267 shares of the company's stock valued at $34,000 after buying an additional 156 shares during the last quarter. Harbour Investments Inc. boosted its position in shares of Stride by 374.6% in the first quarter. Harbour Investments Inc. now owns 337 shares of the company's stock worth $43,000 after purchasing an additional 266 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Stride in the first quarter worth approximately $43,000. Finally, Fifth Third Bancorp boosted its position in shares of Stride by 158.8% in the first quarter. Fifth Third Bancorp now owns 383 shares of the company's stock worth $48,000 after purchasing an additional 235 shares during the period. 98.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on LRN shares. William Blair reiterated an "outperform" rating on shares of Stride in a research report on Wednesday, April 30th. Morgan Stanley upped their price target on shares of Stride from $148.00 to $159.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. BMO Capital Markets reiterated an "outperform" rating on shares of Stride in a research report on Thursday, May 1st. Wall Street Zen lowered shares of Stride from a "buy" rating to a "hold" rating in a research report on Friday. Finally, Canaccord Genuity Group upped their price target on shares of Stride from $145.00 to $155.00 and gave the stock a "buy" rating in a research report on Monday, April 28th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $143.40.

Stride Price Performance

Shares of NYSE:LRN traded down $2.3950 during midday trading on Friday, reaching $165.3750. 739,772 shares of the company were exchanged, compared to its average volume of 754,639. 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 business's fifty day moving average is $141.91 and its two-hundred day moving average is $140.02. Stride, Inc. has a one year low of $63.25 and a one year high of $169.87. The stock has a market cap of $7.22 billion, a PE ratio of 27.47, a price-to-earnings-growth ratio of 0.97 and a beta of 0.10.

Stride (NYSE:LRN - Get Free Report) last issued its earnings results 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. Stride had a net margin of 11.97% and a return on equity of 25.51%. The firm had revenue of $653.65 million during the quarter, compared to analyst estimates of $626.23 million. During the same quarter in the prior year, the business earned $1.42 earnings per share. Stride's revenue for the quarter was up 22.4% on a year-over-year basis. As a group, analysts predict that Stride, Inc. will post 6.67 earnings per share for the current year.

Insider Transactions at Stride

In related news, CEO James Jeaho Rhyu sold 13,961 shares of the company's 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 sale, the chief executive officer owned 706,353 shares of the company's stock, valued at $114,895,378.98. This represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.00% of the stock is currently owned by 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.