Algert Global LLC Trims Holdings in Stride, Inc. (NYSE:LRN)

Algert Global LLC reduced its holdings in shares of Stride, Inc. (NYSE:LRN) by 31.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 22,388 shares of the company’s stock after selling 10,290 shares during the period. Algert Global LLC’s holdings in Stride were worth $1,910,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Swedbank AB purchased a new position in shares of Stride during the first quarter worth about $60,385,000. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Stride in the 2nd quarter valued at approximately $43,387,000. Congress Asset Management Co. acquired a new position in shares of Stride in the third quarter valued at approximately $45,616,000. Victory Capital Management Inc. raised its stake 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 worth $33,836,000 after purchasing an additional 448,849 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted 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 worth $32,058,000 after purchasing an additional 439,911 shares during the period. 98.24% of the stock is currently owned by institutional investors and hedge funds.

Stride Price Performance

LRN stock opened at $107.04 on Thursday. The firm has a 50 day moving average of $87.74 and a 200-day moving average of $78.58. The company has a market cap of $4.67 billion, a price-to-earnings ratio of 19.46, a PEG ratio of 0.80 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, Inc. has a 12-month low of $54.81 and a 12-month high of $108.48.

Stride (NYSE:LRN) last issued its quarterly earnings data 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. The firm had revenue of $551.08 million during the quarter, compared to analysts’ expectations of $504.29 million. Stride had a return on equity of 21.23% and a net margin of 11.38%. Stride’s revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.11 earnings per share. As a group, equities analysts expect that Stride, Inc. will post 6.66 EPS for the current fiscal year.

Insider Buying and Selling

In other Stride news, Director Todd Goldthwaite sold 8,028 shares of Stride stock in a transaction dated Friday, October 25th. The shares were 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 approximately $7,786,209.32. The trade was a 8.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. BMO Capital Markets upped their price objective 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 report on Thursday, August 8th. They issued a “buy” rating and a $94.00 price objective for the company. Canaccord Genuity Group lifted their price objective on Stride from $94.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. StockNews.com downgraded Stride from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Finally, Barrington Research lifted their price target on Stride from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $90.17.

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.