Stride (NYSE:LRN) Stock Price Down 3.7% - What's Next?

Key Points

• Stride, Inc. shares fell by 3.7%, trading at $152.45, with a significant decline in trading volume of 96% compared to its average daily volume.
• Analysts have mixed views on Stride, with Barrington Research raising its price target to $185 and Morgan Stanley to $159, while Wall Street Zen downgraded its rating from "buy" to "hold."
• Stride reported a 22.4% year-over-year increase in revenue, reaching $653.65 million for the quarter, and achieved earnings per share of $2.29, surpassing analysts' expectations.

Shares of Stride, Inc. (NYSE:LRN - Get Free Report) dropped 3.7% on Monday . The stock traded as low as $154.56 and last traded at $152.45. Approximately 33,170 shares were traded during trading, a decline of 96% from the average daily volume of 755,452 shares. The stock had previously closed at $158.36.

Analyst Upgrades and Downgrades

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

Stride Stock Up 0.9%

The company has a fifty day moving average price of $148.46 and a 200 day moving average price of $142.63. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.39 and a quick ratio of 5.27. The company has a market cap of $6.20 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 0.82 and a beta of 0.22.

Stride (NYSE:LRN - Get Free Report) last announced 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. Stride had a net margin of 11.97% and a return on equity of 25.51%. The company had revenue of $653.65 million during the quarter, compared to analyst estimates of $626.23 million. During the same period in the previous year, the business earned $1.42 earnings per share. The firm's quarterly revenue was up 22.4% compared to the same quarter last year. As a group, analysts anticipate that Stride, Inc. will post 6.67 EPS for the current year.

Insider Buying and Selling at Stride

In related news, CEO James Jeaho Rhyu sold 13,961 shares of the firm's stock in a transaction dated 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 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 3.00% of the company's stock.

Institutional Investors Weigh In On Stride

A number of hedge funds have recently made changes to their positions in LRN. ProShare Advisors LLC boosted its stake in shares of Stride by 44.6% in the 4th quarter. ProShare Advisors LLC now owns 12,839 shares of the company's stock valued at $1,334,000 after purchasing an additional 3,957 shares in the last quarter. Two Sigma Investments LP increased its holdings in shares of Stride by 327.0% in the fourth quarter. Two Sigma Investments LP now owns 60,209 shares of the company's stock worth $6,258,000 after buying an additional 46,109 shares during the period. Squarepoint Ops LLC lifted its stake in shares of Stride by 165.5% in the 4th quarter. Squarepoint Ops LLC now owns 134,598 shares of the company's stock valued at $13,989,000 after acquiring an additional 83,898 shares during the last quarter. Vident Advisory LLC bought a new stake in shares of Stride in the 4th quarter valued at about $297,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Stride by 0.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 101,985 shares of the company's stock valued at $10,599,000 after acquiring an additional 383 shares during the period. 98.24% of the stock is currently owned by institutional investors.

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.