TrueWealth Advisors LLC Purchases Shares of 3,510 Stride, Inc. $LRN

Key Points

• TrueWealth Advisors LLC has acquired 3,510 shares of Stride, Inc. (NYSE:LRN), valued at approximately $510,000, during the second quarter.
• Stride's recent earnings report showed a robust performance with $2.29 EPS, exceeding expectations and a year-over-year revenue increase of 22.4%.
• Overall, institutional investors hold 98.24% of Stride's stock, indicating strong institutional interest in the company.

TrueWealth Advisors LLC bought a new position in shares of Stride, Inc. (NYSE:LRN - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,510 shares of the company's stock, valued at approximately $510,000.

Several other hedge funds have also recently modified their holdings of LRN. DAVENPORT & Co LLC acquired a new position in shares of Stride during the 1st quarter worth $461,000. Canandaigua National Bank & Trust Co. acquired a new position in shares of Stride in the 1st quarter valued at about $273,000. FORA Capital LLC acquired a new position in Stride during the 1st quarter worth approximately $572,000. GAMMA Investing LLC lifted its position in Stride by 14,892.4% during the 1st quarter. GAMMA Investing LLC now owns 370,013 shares of the company's stock worth $46,807,000 after acquiring an additional 367,545 shares in the last quarter. Finally, CW Advisors LLC lifted its position in Stride by 89.5% during the 1st quarter. CW Advisors LLC now owns 161,458 shares of the company's stock worth $20,424,000 after acquiring an additional 76,260 shares in the last quarter. 98.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LRN has been the subject of a number of research analyst reports. Barrington Research boosted their price target on Stride from $170.00 to $185.00 and gave the company an "outperform" rating in a report on Friday, August 29th. Wall Street Zen lowered Stride from a "buy" rating to a "hold" rating in a report on Friday, August 22nd. Finally, Morgan Stanley upped their target price on Stride from $148.00 to $159.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Stride has a consensus rating of "Moderate Buy" and an average target price of $146.40.

Stride Stock Down 1.7%

NYSE:LRN opened at $158.36 on Friday. The company has a current ratio of 5.39, a quick ratio of 5.27 and a debt-to-equity ratio of 0.31. The stock has a market cap of $6.91 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 0.94 and a beta of 0.22. The stock has a 50-day moving average price of $148.06 and a two-hundred day moving average price of $142.58. Stride, Inc. has a 1 year low of $63.25 and a 1 year high of $171.17.

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

Insider Transactions at Stride

In other news, CEO James Jeaho Rhyu sold 13,961 shares of Stride stock in a transaction dated 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 transaction, the chief executive officer directly owned 706,353 shares of the company's stock, valued at approximately $114,895,378.98. This trade represents a 1.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.00% of the stock is currently owned by corporate insiders.

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.

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