Stride, Inc. $LRN Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. reduced its stake in Stride, Inc. by 16.0% during the first quarter, now owning approximately 0.17% of the company worth $9,105,000.
• Several other institutional investors, such as Larson Financial Group LLC and Fifth Third Bancorp, significantly increased their holdings in Stride during the same period, indicating a general interest among institutional investors in the company.
• Equities research analysts have a positive outlook on Stride, with multiple firms raising their price targets and giving it a rating of "buy," reflecting an average target price of $143.40.

Russell Investments Group Ltd. reduced its stake in shares of Stride, Inc. (NYSE:LRN - Free Report) by 16.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 71,978 shares of the company's stock after selling 13,660 shares during the quarter. Russell Investments Group Ltd. owned about 0.17% of Stride worth $9,105,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in LRN. Larson Financial Group LLC grew its position in Stride by 333.3% in the first quarter. Larson Financial Group LLC now owns 208 shares of the company's stock worth $26,000 after buying an additional 160 shares during the last quarter. First Horizon Advisors Inc. increased its stake in Stride by 140.5% in the 1st quarter. First Horizon Advisors Inc. now owns 267 shares of the company's stock worth $34,000 after purchasing an additional 156 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in Stride during the 4th quarter worth about $41,000. Harbour Investments Inc. lifted its stake in Stride by 374.6% during the first quarter. Harbour Investments Inc. now owns 337 shares of the company's stock valued at $43,000 after buying an additional 266 shares in the last quarter. Finally, Fifth Third Bancorp boosted its holdings 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 buying an additional 235 shares during the period. 98.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Canaccord Genuity Group boosted their price target on shares of Stride from $145.00 to $155.00 and gave the company a "buy" rating in a report on Monday, April 28th. Barrington Research reissued an "outperform" rating and set a $170.00 target price on shares of Stride in a research note on Thursday, July 24th. Morgan Stanley raised their target price on Stride from $148.00 to $159.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Wall Street Zen raised Stride from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Finally, BMO Capital Markets restated an "outperform" rating on shares of Stride in a research report on Thursday, May 1st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Stride has an average rating of "Moderate Buy" and an average target price of $143.40.

Stride Trading Up 1.5%

NYSE LRN opened at $162.56 on Tuesday. The company has a current ratio of 5.39, a quick ratio of 5.27 and a debt-to-equity ratio of 0.31. Stride, Inc. has a 1-year low of $63.25 and a 1-year high of $164.08. The firm's fifty day simple moving average is $140.05 and its 200-day simple moving average is $139.27. The company has a market capitalization of $7.09 billion, a PE ratio of 27.00, a price-to-earnings-growth ratio of 0.94 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 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 firm had revenue of $653.65 million for the quarter, compared to the consensus estimate of $626.23 million. During the same quarter in the previous year, the company posted $1.42 earnings per share. The business's quarterly revenue was up 22.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Stride, Inc. will post 6.67 earnings per share for the current fiscal year.

About Stride

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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