US Bancorp DE Grows Stock Position in Stride, Inc. (NYSE:LRN)

Key Points

• US Bancorp DE significantly increased its stake in Stride, Inc. by 306.6% during the first quarter, now holding shares worth approximately $852,000.
• Stride reported a 22.4% year-over-year revenue increase, with earnings per share of $2.29 exceeding expectations by $0.46 in its most recent quarter.
• Analysts currently have a consensus rating of "Moderate Buy" for Stride, with a target price averaging $143.40.

US Bancorp DE raised its position in shares of Stride, Inc. (NYSE:LRN - Free Report) by 306.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,733 shares of the company's stock after buying an additional 5,077 shares during the quarter. US Bancorp DE's holdings in Stride were worth $852,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of LRN. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in Stride by 27.3% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 4,113 shares of the company's stock worth $520,000 after buying an additional 881 shares during the period. Harbour Investments Inc. lifted its position in shares of Stride by 374.6% during the 1st 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. Private Advisory Group LLC purchased a new position in shares of Stride during the 1st quarter valued at approximately $826,000. Natixis Advisors LLC lifted its position in shares of Stride by 319.5% during the 1st quarter. Natixis Advisors LLC now owns 42,075 shares of the company's stock valued at $5,322,000 after buying an additional 32,045 shares in the last quarter. Finally, Bayforest Capital Ltd purchased a new position in Stride in the 1st quarter valued at $644,000. 98.24% of the stock is owned by hedge funds and other institutional investors.

Stride Stock Performance

NYSE LRN traded down $2.98 on Thursday, reaching $155.38. The stock had a trading volume of 197,717 shares, compared to its average volume of 780,919. Stride, Inc. has a 12-month low of $63.25 and a 12-month high of $162.30. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.27 and a current ratio of 5.39. The business's 50-day moving average price is $139.06 and its 200 day moving average price is $138.42. The stock has a market cap of $6.78 billion, a P/E ratio of 25.84, a price-to-earnings-growth ratio of 0.92 and a beta of 0.10.

Stride (NYSE:LRN - Get Free Report) last released 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 during the quarter, compared to analysts' expectations of $626.23 million. During the same quarter in the prior year, the business earned $1.42 earnings per share. The company's quarterly revenue was up 22.4% compared to the same quarter last year. As a group, equities analysts expect that Stride, Inc. will post 6.67 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Barrington Research restated an "outperform" rating and issued a $170.00 price objective on shares of Stride in a report on Thursday, July 24th. William Blair reissued an "outperform" rating on shares of Stride in a research report on Wednesday, April 30th. Wall Street Zen upgraded shares of Stride from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. BMO Capital Markets reissued an "outperform" rating on shares of Stride in a research report on Thursday, May 1st. Finally, Morgan Stanley boosted their price objective on Stride from $148.00 to $159.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Stride has an average rating of "Moderate Buy" and an average price target of $143.40.

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.