Swiss National Bank Acquires 3,700 Shares of Stride, Inc. $LRN

Key Points

• Swiss National Bank increased its holdings in Stride, Inc. by 4.6% during the first quarter, now owning 84,500 shares worth approximately $10.69 million.
• Stride's stock rose by 2.2% to open at $160.47, with a market cap of $7.00 billion and a PE ratio of 26.66.
• The company reported earnings of $2.29 EPS, exceeding expectations, and achieved a revenue of $653.65 million, marking a 22.4% increase year-over-year.

Swiss National Bank grew its stake in shares of Stride, Inc. (NYSE:LRN - Free Report) by 4.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 84,500 shares of the company's stock after buying an additional 3,700 shares during the quarter. Swiss National Bank owned about 0.19% of Stride worth $10,689,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. DAVENPORT & Co LLC bought a new stake in shares of Stride in the 1st quarter worth approximately $461,000. Canandaigua National Bank & Trust Co. bought a new stake in shares of Stride in the 1st quarter worth approximately $273,000. GAMMA Investing LLC raised its holdings in shares of Stride by 14,892.4% in the 1st quarter. GAMMA Investing LLC now owns 370,013 shares of the company's stock worth $46,807,000 after purchasing an additional 367,545 shares in the last quarter. Kestra Private Wealth Services LLC acquired a new stake in shares of Stride during the first quarter valued at approximately $771,000. Finally, Keybank National Association OH raised its holdings in shares of Stride by 65.8% during the first quarter. Keybank National Association OH now owns 6,413 shares of the company's stock valued at $811,000 after acquiring an additional 2,544 shares during the period. 98.24% of the stock is currently owned by institutional investors.

Stride Stock Up 2.7%

LRN traded up $4.4150 on Thursday, reaching $167.7450. 560,958 shares of the company traded hands, compared to its average volume of 747,603. The stock's 50 day moving average price is $141.47 and its 200-day moving average price is $139.81. Stride, Inc. has a 52-week low of $63.25 and a 52-week high of $168.00. The company has a market cap of $7.32 billion, a price-to-earnings ratio of 27.86, a PEG ratio of 0.96 and a beta of 0.10. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.39 and a quick ratio of 5.27.

Stride (NYSE:LRN - Get Free Report) last announced its quarterly earnings data 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 net margin of 11.97% and a return on equity of 25.51%. The firm had revenue of $653.65 million for the quarter, compared to the consensus estimate of $626.23 million. During the same period in the previous year, the firm posted $1.42 earnings per share. The firm's revenue was up 22.4% on a year-over-year basis. On average, sell-side analysts expect that Stride, Inc. will post 6.67 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on LRN. Barrington Research restated an "outperform" rating and set a $170.00 price target on shares of Stride in a report on Thursday, July 24th. William Blair restated an "outperform" rating on shares of Stride in a report on Wednesday, April 30th. Morgan Stanley boosted their price target on shares of Stride from $148.00 to $159.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. 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. Finally, BMO Capital Markets restated an "outperform" rating on shares of Stride in a report on Thursday, May 1st. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $143.40.

Insider Buying and Selling

In related news, CEO James Jeaho Rhyu sold 13,961 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 706,353 shares of the company's stock, valued at approximately $114,895,378.98. The trade was a 1.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 3.00% of the company's stock.

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.