State of New Jersey Common Pension Fund D Sells 2,513 Shares of Stride, Inc. (NYSE:LRN)

State of New Jersey Common Pension Fund D lowered its holdings in shares of Stride, Inc. (NYSE:LRN) by 9.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,356 shares of the company’s stock after selling 2,513 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.06% of Stride worth $2,078,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LRN. William Blair Investment Management LLC raised its position in shares of Stride by 20.1% during the second quarter. William Blair Investment Management LLC now owns 2,122,102 shares of the company’s stock valued at $149,608,000 after buying an additional 355,614 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Stride by 2.7% in the 1st quarter. Janus Henderson Group PLC now owns 1,154,995 shares of the company’s stock valued at $72,821,000 after acquiring an additional 30,854 shares during the last quarter. Swedbank AB purchased a new stake in Stride in the 1st quarter worth $60,385,000. Vaughan Nelson Investment Management L.P. purchased a new stake in Stride in the 2nd quarter worth $43,387,000. Finally, Congress Asset Management Co. bought a new position in shares of Stride during the 3rd quarter valued at about $45,616,000. Institutional investors own 98.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. StockNews.com downgraded Stride from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Canaccord Genuity Group increased their target price on Stride from $94.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Citigroup boosted their price target on shares of Stride from $90.00 to $94.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Canaccord Genuity Group started coverage on shares of Stride in a research note on Thursday, August 8th. They set a “buy” rating and a $94.00 price target on the stock. Finally, BMO Capital Markets lifted their price objective on shares of Stride from $84.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $90.17.

Insider Transactions at Stride

In related news, Director Todd Goldthwaite sold 8,028 shares of the business’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $91.54, for a total transaction of $734,883.12. Following the completion of the transaction, the director now owns 85,058 shares in the company, valued at $7,786,209.32. The trade was a 8.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.00% of the company’s stock.

Stride Trading Up 0.7 %

LRN stock opened at $100.29 on Friday. Stride, Inc. has a twelve month low of $54.81 and a twelve month high of $103.98. The stock has a market capitalization of $4.37 billion, a price-to-earnings ratio of 18.23, a price-to-earnings-growth ratio of 0.75 and a beta of 0.27. The company has a quick ratio of 5.50, a current ratio of 5.60 and a debt-to-equity ratio of 0.38. The firm’s fifty day simple moving average is $84.43 and its two-hundred day simple moving average is $76.81.

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

Stride 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.