Stride, Inc. $LRN Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP reduced its stake in Stride, Inc. by 1.8%, selling 10,727 shares, and now holds 596,854 shares valued at approximately $75.5 million.
• Stride, Inc. reported a quarterly earnings per share of $2.29, exceeding estimates by $0.46, with revenue increasing by 22.4% year-over-year to $653.65 million.
• CEO James Jeaho Rhyu sold 13,961 shares at an average price of $162.66, decreasing his ownership by 1.94% while retaining 706,353 shares valued at nearly $114.9 million.

Wellington Management Group LLP lessened its stake in shares of Stride, Inc. (NYSE:LRN - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 596,854 shares of the company's stock after selling 10,727 shares during the period. Wellington Management Group LLP owned 1.37% of Stride worth $75,502,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of LRN. DAVENPORT & Co LLC acquired a new position in Stride in the 1st quarter valued at about $461,000. Canandaigua National Bank & Trust Co. acquired a new position in Stride in the 1st quarter valued at about $273,000. GAMMA Investing LLC grew its position in Stride by 14,892.4% in the 1st quarter. GAMMA Investing LLC now owns 370,013 shares of the company's stock valued at $46,807,000 after acquiring an additional 367,545 shares in the last quarter. Kestra Private Wealth Services LLC acquired a new position in Stride in the 1st quarter valued at about $771,000. Finally, Keybank National Association OH grew its position in Stride by 65.8% in the 1st 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 in the last quarter. Hedge funds and other institutional investors own 98.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Wall Street Zen downgraded Stride from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. William Blair reaffirmed an "outperform" rating on shares of Stride in a research report on Wednesday, April 30th. Barrington Research reissued an "outperform" rating and set a $170.00 price objective on shares of Stride in a research report on Thursday, July 24th. 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. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Stride in a research report on Thursday, May 1st. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $143.40.

Insiders Place Their Bets

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 transaction of $2,270,896.26. Following the completion of the sale, the chief executive officer owned 706,353 shares in the company, valued at $114,895,378.98. The trade was a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.00% of the stock is currently owned by insiders.

Stride Stock Down 0.2%

LRN stock traded down $0.37 during trading on Wednesday, hitting $169.43. 197,783 shares of the company's stock were exchanged, compared to its average volume of 773,259. The business has a 50-day moving average price of $142.88 and a two-hundred day moving average price of $140.39. The stock has a market capitalization of $7.39 billion, a price-to-earnings ratio of 28.14, a PEG ratio of 0.98 and a beta of 0.10. Stride, Inc. has a 52-week low of $63.25 and a 52-week high of $171.17. 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 posted its earnings results on Tuesday, August 5th. The company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.46. The firm had revenue of $653.65 million during the quarter, compared to analysts' expectations of $626.23 million. Stride had a return on equity of 25.51% and a net margin of 11.97%.The firm's revenue was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.42 earnings per share. As a group, equities research analysts expect that Stride, Inc. will post 6.67 EPS for the current year.

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.