Stride, Inc. (NYSE:LRN) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Stride, Inc. (NYSE:LRN) by 4.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,421 shares of the company’s stock after buying an additional 625 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Stride were worth $1,145,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Stride by 4.7% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 28,900 shares of the company’s stock valued at $2,037,000 after acquiring an additional 1,300 shares during the last quarter. Artemis Investment Management LLP acquired a new stake in shares of Stride during the 2nd quarter worth about $289,000. Blue Trust Inc. raised its position in shares of 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 buying an additional 10,254 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Stride in the second quarter valued at approximately $43,387,000. Finally, Kirr Marbach & Co. LLC IN boosted its position in Stride by 0.3% during the second quarter. Kirr Marbach & Co. LLC IN now owns 107,595 shares of the company’s stock worth $7,585,000 after acquiring an additional 348 shares during the last quarter. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on LRN shares. Canaccord Genuity Group began coverage on Stride in a research note on Thursday, August 8th. They set a “buy” rating and a $94.00 price target on the stock. Canaccord Genuity Group raised their price target on 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 lifted their price target on Stride from $84.00 to $88.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Citigroup increased their price objective on shares of Stride from $90.00 to $94.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Finally, StockNews.com downgraded 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 issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.17.

Insider Activity at Stride

In other news, Director Todd Goldthwaite sold 8,028 shares of the stock in a transaction dated 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 sale, the director now owns 85,058 shares in the company, valued at approximately $7,786,209.32. This trade represents a 8.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.00% of the stock is owned by insiders.

Stride Stock Down 0.2 %

Shares of NYSE:LRN opened at $110.52 on Friday. The stock has a 50-day simple moving average of $91.13 and a 200-day simple moving average of $80.29. The stock has a market capitalization of $4.82 billion, a P/E ratio of 20.09, a PEG ratio of 0.83 and a beta of 0.30. Stride, Inc. has a 1 year low of $54.81 and a 1 year high of $112.80. The company has a debt-to-equity ratio of 0.38, a quick ratio of 5.50 and a current ratio of 5.60.

Stride (NYSE:LRN) last released 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. Stride had a net margin of 11.38% and a return on equity of 21.23%. The company had revenue of $551.08 million during the quarter, compared to the consensus estimate of $504.29 million. During the same period in the previous year, the firm earned $0.11 earnings per share. Stride’s revenue for the quarter was up 14.8% on a year-over-year basis. Equities analysts forecast that Stride, Inc. will post 6.66 earnings per share for the current 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.