Stride (NYSE:LRN) Trading Down 7.7% - Time to Sell?

Stride, Inc. (NYSE:LRN - Get Free Report) shares dropped 7.7% during mid-day trading on Monday . The company traded as low as $147.31 and last traded at $144.41. Approximately 185,275 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 824,972 shares. The stock had previously closed at $156.51.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LRN. William Blair reiterated an "outperform" rating on shares of Stride in a research report on Wednesday, April 30th. Barrington Research boosted their target price on Stride from $150.00 to $170.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Canaccord Genuity Group lifted their price target on shares of Stride from $145.00 to $155.00 and gave the stock a "buy" rating in a research report on Monday, April 28th. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Stride in a research note on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $126.83.

Stride Stock Up 0.5%

The stock has a market capitalization of $6.73 billion, a P/E ratio of 25.81, a PEG ratio of 1.04 and a beta of 0.36. The company has a quick ratio of 5.93, a current ratio of 6.02 and a debt-to-equity ratio of 0.35. The business has a 50-day simple moving average of $136.37 and a two-hundred day simple moving average of $123.08.

Stride (NYSE:LRN - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $2.02 earnings per share for the quarter, missing the consensus estimate of $2.09 by ($0.07). Stride had a return on equity of 22.42% and a net margin of 12.30%. The firm had revenue of $613.38 million for the quarter, compared to the consensus estimate of $591.15 million. During the same period in the previous year, the business earned $1.60 EPS. The firm's revenue was up 17.8% compared to the same quarter last year. Equities research analysts forecast that Stride, Inc. will post 6.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Vident Advisory LLC lifted its holdings in Stride by 2.9% during the 1st quarter. Vident Advisory LLC now owns 2,941 shares of the company's stock valued at $372,000 after purchasing an additional 84 shares during the last quarter. Mutual of America Capital Management LLC raised its holdings in Stride by 1.5% in the 4th quarter. Mutual of America Capital Management LLC now owns 6,492 shares of the company's stock valued at $675,000 after buying an additional 93 shares during the last quarter. Arizona State Retirement System raised its position in Stride by 0.8% during the 4th quarter. Arizona State Retirement System now owns 11,932 shares of the company's stock worth $1,240,000 after purchasing an additional 99 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Stride by 0.5% in the 4th quarter. Louisiana State Employees Retirement System now owns 20,700 shares of the company's stock valued at $2,151,000 after purchasing an additional 100 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its stake in shares of Stride by 1.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 10,074 shares of the company's stock valued at $1,047,000 after purchasing an additional 100 shares during the period. 98.24% of the stock is currently owned by institutional investors.

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.