HighTower Advisors LLC Sells 14,828 Shares of Stride, Inc. (NYSE:LRN)

HighTower Advisors LLC trimmed its position in shares of Stride, Inc. (NYSE:LRN) by 14.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 88,950 shares of the company’s stock after selling 14,828 shares during the quarter. HighTower Advisors LLC owned about 0.20% of Stride worth $7,584,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Blue Trust Inc. raised its holdings in Stride by 795.5% in the 2nd quarter. Blue Trust Inc. now owns 11,543 shares of the company’s stock worth $814,000 after acquiring an additional 10,254 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Stride during the second quarter valued at approximately $534,000. International Assets Investment Management LLC lifted its position in Stride by 8,431.7% during the third quarter. International Assets Investment Management LLC now owns 5,119 shares of the company’s stock valued at $437,000 after purchasing an additional 5,059 shares during the period. Quest Partners LLC boosted its holdings in Stride by 20,248.8% in the third quarter. Quest Partners LLC now owns 8,343 shares of the company’s stock worth $712,000 after purchasing an additional 8,302 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its position in Stride by 24.6% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 36,000 shares of the company’s stock worth $3,071,000 after purchasing an additional 7,100 shares during the period. 98.24% of the stock is currently owned by institutional investors.

Insider Activity at Stride

In other news, Director Todd Goldthwaite sold 8,028 shares of the business’s 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 of the company’s stock, valued at approximately $7,786,209.32. The trade was a 8.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

LRN has been the topic of a number of recent research reports. StockNews.com downgraded Stride from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. BMO Capital Markets lifted their target price on Stride from $84.00 to $88.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Citigroup boosted their price target on Stride from $90.00 to $94.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Barrington Research lifted their price objective on Stride from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Canaccord Genuity Group boosted their price objective on Stride from $94.00 to $100.00 and gave the company a “buy” rating in a research note 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $90.17.

Stride Stock Down 2.4 %

LRN opened at $107.84 on Tuesday. The company has a market capitalization of $4.70 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 0.83 and a beta of 0.30. The firm has a 50-day simple moving average of $92.11 and a two-hundred day simple moving average of $80.99. The company has a quick ratio of 5.50, a current ratio of 5.60 and a debt-to-equity ratio of 0.38. Stride, Inc. has a 52 week low of $54.81 and a 52 week high of $112.80.

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