Swedbank AB Buys 52,000 Shares of Stride, Inc. $LRN

Key Points

• Swedbank AB increased its ownership in Stride, Inc. by 5.4% in Q1, acquiring an additional 52,000 shares, bringing its total holdings to approximately $127.73 million.
• CEO James Jeaho Rhyu sold 13,961 shares of Stride stock for about $2.27 million, reducing his ownership by 1.94%.
• Stride reported quarterly earnings of $2.29 per share, surpassing analyst expectations, with revenues of $653.65 million, reflecting a 22.4% year-over-year increase.

Swedbank AB lifted its stake in Stride, Inc. (NYSE:LRN - Free Report) by 5.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,009,726 shares of the company's stock after acquiring an additional 52,000 shares during the quarter. Swedbank AB owned approximately 2.32% of Stride worth $127,730,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Congress Asset Management Co. increased its position in shares of Stride by 102.2% in the first quarter. Congress Asset Management Co. now owns 1,169,748 shares of the company's stock valued at $147,973,000 after acquiring an additional 591,208 shares during the last quarter. Deutsche Bank AG increased its position in shares of Stride by 10.4% in the first quarter. Deutsche Bank AG now owns 617,894 shares of the company's stock valued at $78,164,000 after acquiring an additional 58,029 shares during the last quarter. Driehaus Capital Management LLC grew its holdings in Stride by 12.3% during the first quarter. Driehaus Capital Management LLC now owns 613,820 shares of the company's stock worth $77,648,000 after purchasing an additional 67,184 shares during the period. Wellington Management Group LLP grew its holdings in Stride by 120.6% during the fourth quarter. Wellington Management Group LLP now owns 607,581 shares of the company's stock worth $63,146,000 after purchasing an additional 332,098 shares during the period. Finally, Northern Trust Corp grew its holdings in Stride by 1.3% during the first quarter. Northern Trust Corp now owns 467,774 shares of the company's stock worth $59,173,000 after purchasing an additional 5,820 shares during the period. Institutional investors and hedge funds own 98.24% of the company's stock.

Stride Stock Performance

Shares of NYSE:LRN traded down $18.42 during trading on Monday, reaching $139.94. 3,153,035 shares of the stock were exchanged, compared to its average volume of 552,315. Stride, Inc. has a 12 month low of $63.25 and a 12 month high of $171.17. The firm has a market cap of $6.11 billion, a PE ratio of 23.25, a PEG ratio of 0.92 and a beta of 0.22. The stock has a 50-day moving average price of $148.09 and a 200-day moving average price of $142.66. 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 (NYSE:LRN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, topping 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 company had revenue of $653.65 million during the quarter, compared to analysts' expectations of $626.23 million. During the same quarter in the previous year, the company posted $1.42 earnings per share. The business's revenue was up 22.4% on a year-over-year basis. Research analysts expect that Stride, Inc. will post 6.67 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on LRN shares. Wall Street Zen cut Stride from a "buy" rating to a "hold" rating in a report on Friday, August 22nd. Morgan Stanley lifted their price target on Stride from $148.00 to $159.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Finally, Barrington Research lifted their price target on Stride from $170.00 to $185.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $146.40.

Insider Activity

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 stock was sold at an average price of $162.66, for a total value of $2,270,896.26. Following the completion of the sale, the chief executive officer directly owned 706,353 shares in the company, 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 filing with the SEC, which is accessible through this link. Company insiders own 3.00% of the company's stock.

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.