Stride (NYSE:LRN) Stock Price Down 4.9% - Time to Sell?

Stride, Inc. (NYSE:LRN - Get Free Report) shares dropped 4.9% on Monday . The company traded as low as $140.40 and last traded at $138.28. Approximately 74,123 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 854,936 shares. The stock had previously closed at $145.46.

Analyst Ratings Changes

LRN has been the topic of a number of analyst reports. Wall Street Zen cut Stride from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Canaccord Genuity Group lifted their target price on Stride from $145.00 to $155.00 and gave the company a "buy" rating in a research note on Monday, April 28th. William Blair reaffirmed an "outperform" rating on shares of Stride in a research note on Wednesday, April 30th. Barrington Research lifted their target price on Stride from $150.00 to $170.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Stride in a research note on Thursday, May 1st. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Stride currently has an average rating of "Moderate Buy" and an average price target of $126.83.

Stride Trading Down 0.3%

The firm has a market capitalization of $6.18 billion, a price-to-earnings ratio of 23.69, a price-to-earnings-growth ratio of 1.04 and a beta of 0.35. The company has a current ratio of 6.02, a quick ratio of 5.93 and a debt-to-equity ratio of 0.35. The company has a fifty day moving average price of $145.66 and a 200-day moving average price of $129.37.

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

Institutional Investors Weigh In On Stride

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Asset Management One Co. Ltd. acquired a new stake in Stride in the 4th quarter worth approximately $5,696,000. Congress Asset Management Co. lifted its holdings in Stride by 8.2% in the 4th quarter. Congress Asset Management Co. now owns 578,540 shares of the company's stock worth $60,128,000 after purchasing an additional 43,829 shares during the last quarter. Aigen Investment Management LP acquired a new stake in Stride in the 4th quarter worth approximately $995,000. Truist Financial Corp acquired a new stake in Stride in the 4th quarter worth approximately $302,000. Finally, Allspring Global Investments Holdings LLC increased its position in Stride by 61.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 190,431 shares of the company's stock worth $20,250,000 after buying an additional 72,518 shares during the period. 98.24% of the stock is currently owned by institutional investors and hedge funds.

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.