Nisa Investment Advisors LLC Reduces Stock Holdings in Stride, Inc. (NYSE:LRN)

Nisa Investment Advisors LLC decreased its stake in shares of Stride, Inc. (NYSE:LRN) by 9.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,250 shares of the company’s stock after selling 131 shares during the period. Nisa Investment Advisors LLC’s holdings in Stride were worth $107,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LRN. William Blair Investment Management LLC purchased a new position in shares of Stride in the 1st quarter worth $111,377,000. Swedbank AB bought a new position in shares of Stride during the first quarter valued at approximately $60,385,000. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Stride in the 2nd quarter worth approximately $43,387,000. Victory Capital Management Inc. boosted its holdings in shares of Stride by 1,443.6% during the second quarter. Victory Capital Management Inc. now owns 479,941 shares of the company’s stock valued at $33,836,000 after acquiring an additional 448,849 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Stride by 641.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 508,444 shares of the company’s stock valued at $32,058,000 after buying an additional 439,911 shares during the last quarter. 98.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Stride

In related news, Director Todd Goldthwaite sold 8,028 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $91.54, for a total value of $734,883.12. Following the completion of the transaction, the director now directly owns 85,058 shares in the company, valued at approximately $7,786,209.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.76% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

LRN has been the subject of a number of analyst reports. Barrington Research boosted their price target on Stride from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. BMO Capital Markets boosted their price target on shares of Stride from $84.00 to $88.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Canaccord Genuity Group assumed coverage on shares of Stride in a research note on Thursday, August 8th. They issued a “buy” rating and a $94.00 price objective on the stock. StockNews.com cut Stride from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Finally, Citigroup upped their price target on Stride from $90.00 to $94.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Stride currently has an average rating of “Moderate Buy” and a consensus price target of $90.17.

Stride Stock Down 0.6 %

LRN stock opened at $98.89 on Friday. Stride, Inc. has a 1 year low of $54.81 and a 1 year high of $99.61. The company has a fifty day simple moving average of $82.02 and a 200 day simple moving average of $75.24. The firm has a market cap of $4.31 billion, a PE ratio of 17.98, a PEG ratio of 0.70 and a beta of 0.27. The company has a current ratio of 5.60, a quick ratio of 5.50 and a debt-to-equity ratio of 0.38.

Stride (NYSE:LRN) last posted its earnings results on Tuesday, October 22nd. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.72. Stride had a net margin of 11.38% and a return on equity of 21.23%. The business had revenue of $551.08 million for the quarter, compared to analyst estimates of $504.29 million. During the same period last year, the business posted $0.11 EPS. Stride’s revenue was up 14.8% compared to the same quarter last year. Sell-side analysts anticipate that Stride, Inc. will post 6.66 EPS for the current fiscal year.

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.