Cerity Partners LLC Decreases Position in Stride, Inc. (NYSE:LRN)

Cerity Partners LLC trimmed its holdings in shares of Stride, Inc. (NYSE:LRN) by 7.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 127,035 shares of the company’s stock after selling 10,431 shares during the period. Cerity Partners LLC’s holdings in Stride were worth $10,837,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LRN. nVerses Capital LLC acquired a new position in Stride during the 2nd quarter valued at approximately $78,000. Mendota Financial Group LLC acquired a new position in shares of Stride in the 3rd quarter valued at $86,000. Advisors Asset Management Inc. raised its stake in Stride by 38.0% in the 1st quarter. Advisors Asset Management Inc. now owns 2,740 shares of the company’s stock worth $173,000 after acquiring an additional 754 shares during the last quarter. GAMMA Investing LLC lifted its position in Stride by 45.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,061 shares of the company’s stock worth $176,000 after acquiring an additional 643 shares during the period. Finally, Central Pacific Bank Trust Division lifted its position in Stride by 24.2% during the 3rd quarter. Central Pacific Bank Trust Division now owns 2,153 shares of the company’s stock worth $184,000 after acquiring an additional 420 shares during the period. 98.24% of the stock is currently owned by hedge funds and other institutional investors.

Stride Stock Performance

Shares of NYSE LRN opened at $108.44 on Wednesday. The company has a market capitalization of $4.73 billion, a PE ratio of 19.72, a price-to-earnings-growth ratio of 0.78 and a beta of 0.27. The company has a debt-to-equity ratio of 0.38, a quick ratio of 5.50 and a current ratio of 5.60. The company’s fifty day moving average price is $87.21 and its 200 day moving average price is $78.32. Stride, Inc. has a 1 year low of $54.81 and a 1 year high of $108.48.

Stride (NYSE:LRN) last posted its earnings results on Tuesday, October 22nd. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate 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 in the prior year, the company posted $0.11 EPS. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, research analysts predict that Stride, Inc. will post 6.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Citigroup raised their price objective on Stride from $90.00 to $94.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Barrington Research lifted their price objective on shares of Stride from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Canaccord Genuity Group increased their price objective on shares of Stride from $94.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. BMO Capital Markets raised their target price on shares of Stride from $84.00 to $88.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, StockNews.com lowered shares of Stride from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $90.17.

Insider Buying and Selling at Stride

In other news, Director Todd Goldthwaite sold 8,028 shares of the stock in a transaction that occurred 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 transaction, the director now owns 85,058 shares in the company, valued at $7,786,209.32. This trade represents a 8.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.00% of the stock is owned by corporate insiders.

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.