Sei Investments Co. Has $2.83 Million Holdings in Stride, Inc. (NYSE:LRN)

Sei Investments Co. lifted its stake in shares of Stride, Inc. (NYSE:LRN) by 0.6% during the second quarter, Holdings Channel.com reports. The firm owned 40,210 shares of the company’s stock after buying an additional 242 shares during the period. Sei Investments Co.’s holdings in Stride were worth $2,834,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Nordea Investment Management AB lifted its holdings in Stride by 48.9% during the 1st quarter. Nordea Investment Management AB now owns 105,630 shares of the company’s stock worth $6,698,000 after buying an additional 34,682 shares in the last quarter. UniSuper Management Pty Ltd acquired a new position in shares of Stride during the first quarter valued at $555,000. Blue Trust Inc. boosted its holdings in Stride by 795.5% in the second quarter. Blue Trust Inc. now owns 11,543 shares of the company’s stock valued at $814,000 after acquiring an additional 10,254 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Stride in the first quarter worth about $5,402,000. Finally, Blair William & Co. IL raised its holdings in Stride by 13.3% during the 1st quarter. Blair William & Co. IL now owns 77,511 shares of the company’s stock worth $4,887,000 after purchasing an additional 9,090 shares during the last quarter. 98.24% of the stock is owned by institutional investors.

Stride Price Performance

LRN opened at $82.07 on Friday. The company has a fifty day simple moving average of $80.39 and a 200 day simple moving average of $71.60. The company has a quick ratio of 4.95, a current ratio of 5.10 and a debt-to-equity ratio of 0.38. The stock has a market cap of $3.55 billion, a P/E ratio of 19.27, a P/E/G ratio of 0.84 and a beta of 0.26. Stride, Inc. has a 12 month low of $43.77 and a 12 month high of $88.02.

Stride (NYSE:LRN) last released its quarterly earnings results on Tuesday, August 6th. The company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.15. Stride had a return on equity of 19.12% and a net margin of 10.01%. The company had revenue of $534.18 million for the quarter, compared to analyst estimates of $525.89 million. During the same quarter last year, the firm posted $1.01 earnings per share. Stride’s revenue was up 10.5% compared to the same quarter last year. On average, research analysts expect that Stride, Inc. will post 5.05 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LRN. Canaccord Genuity Group began coverage on shares of Stride in a research note on Thursday, August 8th. They issued a “buy” rating and a $94.00 target price on the stock. BMO Capital Markets lifted their target price on shares of Stride from $79.00 to $82.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. StockNews.com upgraded shares of Stride from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Barrington Research restated an “outperform” rating and issued a $90.00 price target on shares of Stride in a research report on Friday, September 20th. Finally, Citigroup downgraded Stride from a “buy” rating to a “neutral” rating and upped their price objective for the company from $77.00 to $90.00 in a report on Tuesday, August 20th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $85.83.

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.