CW Advisors LLC Boosts Stake in Stride, Inc. $LRN

Key Points

• CW Advisors LLC increased its stake in Stride, Inc. by 89.5% during the first quarter, now owning approximately 161,458 shares worth $20.4 million.
• Several brokerages have upgraded Stride's stock ratings, leading to a consensus rating of "Moderate Buy" and a price target of $143.40.
• Stride reported strong earnings, with $2.29 EPS for the quarter, exceeding analyst estimates and showing a 22.4% year-over-year revenue increase.

CW Advisors LLC raised its holdings in Stride, Inc. (NYSE:LRN - Free Report) by 89.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 161,458 shares of the company's stock after purchasing an additional 76,260 shares during the quarter. CW Advisors LLC owned 0.37% of Stride worth $20,424,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Janus Henderson Group PLC boosted its holdings in Stride by 27.6% in the 4th quarter. Janus Henderson Group PLC now owns 1,493,709 shares of the company's stock valued at $155,251,000 after purchasing an additional 323,275 shares in the last quarter. Congress Asset Management Co. boosted its holdings in Stride by 102.2% in the 1st quarter. Congress Asset Management Co. now owns 1,169,748 shares of the company's stock valued at $147,973,000 after purchasing an additional 591,208 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Stride by 9.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 764,067 shares of the company's stock valued at $79,411,000 after purchasing an additional 65,509 shares in the last quarter. Deutsche Bank AG boosted its holdings in Stride by 10.4% in the 1st quarter. Deutsche Bank AG now owns 617,894 shares of the company's stock valued at $78,164,000 after purchasing an additional 58,029 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Stride by 120.6% in the 4th quarter. Wellington Management Group LLP now owns 607,581 shares of the company's stock valued at $63,146,000 after purchasing an additional 332,098 shares in the last quarter. Hedge funds and other institutional investors own 98.24% of the company's stock.

Insider Transactions at Stride

In related news, CEO James Jeaho Rhyu sold 13,961 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $162.66, for a total value of $2,270,896.26. Following the sale, the chief executive officer owned 706,353 shares of the company's stock, valued at approximately $114,895,378.98. This represents a 1.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.00% of the company's stock.

Stride Price Performance

Shares of NYSE:LRN traded down $2.3950 during trading on Friday, hitting $165.3750. 739,772 shares of the stock were exchanged, compared to its average volume of 754,639. The company has a fifty day moving average price of $141.91 and a two-hundred day moving average price of $140.02. The company has a market cap of $7.22 billion, a PE ratio of 27.47, a P/E/G ratio of 0.97 and a beta of 0.10. 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 12-month low of $63.25 and a 12-month high of $169.87.

Stride (NYSE:LRN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $2.29 EPS for the quarter, topping the consensus estimate of $1.83 by $0.46. Stride had a return on equity of 25.51% and a net margin of 11.97%.The business had revenue of $653.65 million for the quarter, compared to analyst estimates of $626.23 million. During the same quarter in the previous year, the company earned $1.42 EPS. The company's quarterly revenue was up 22.4% on a year-over-year basis. On average, analysts forecast that Stride, Inc. will post 6.67 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on LRN. Canaccord Genuity Group lifted their price objective on Stride from $145.00 to $155.00 and gave the company a "buy" rating in a report on Monday, April 28th. Morgan Stanley boosted their price target on Stride from $148.00 to $159.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Barrington Research reissued an "outperform" rating and set a $170.00 price target on shares of Stride in a research note on Thursday, July 24th. BMO Capital Markets reissued an "outperform" rating on shares of Stride in a research note on Thursday, May 1st. Finally, Wall Street Zen lowered Stride from a "buy" rating to a "hold" rating in a research note on Friday. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $143.40.

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.