Inspire Advisors LLC Purchases 2,482 Shares of Stride, Inc. (NYSE:LRN)

Inspire Advisors LLC lifted its position in shares of Stride, Inc. (NYSE:LRN) by 59.3% in the 2nd quarter, Holdings Channel reports. The fund owned 6,671 shares of the company’s stock after buying an additional 2,482 shares during the quarter. Inspire Advisors LLC’s holdings in Stride were worth $470,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LRN. William Blair Investment Management LLC increased its stake in shares of Stride by 20.1% in the second quarter. William Blair Investment Management LLC now owns 2,122,102 shares of the company’s stock worth $149,608,000 after purchasing an additional 355,614 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Stride by 2.7% during 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 period. Swedbank AB purchased a new stake in shares of Stride during the first quarter worth $60,385,000. Vaughan Nelson Investment Management L.P. bought a new position in shares of Stride in the second quarter worth $43,387,000. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Stride by 641.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 508,444 shares of the company’s stock valued at $32,058,000 after purchasing an additional 439,911 shares in the last quarter. 98.24% of the stock is currently owned by institutional investors.

Stride Stock Performance

NYSE LRN opened at $82.51 on Friday. The company has a market capitalization of $3.57 billion, a P/E ratio of 19.37, a P/E/G ratio of 0.77 and a beta of 0.26. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.95 and a current ratio of 5.10. Stride, Inc. has a 52-week low of $43.77 and a 52-week high of $83.97. The company has a fifty day moving average of $76.61 and a 200-day moving average of $69.51.

Stride (NYSE:LRN) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.15. The firm had revenue of $534.18 million during the quarter, compared to analyst estimates of $525.89 million. Stride had a return on equity of 19.12% and a net margin of 10.01%. The company’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.01 earnings per share. As a group, equities research analysts predict that Stride, Inc. will post 5.05 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on LRN. BMO Capital Markets raised their target price on Stride from $79.00 to $82.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Barrington Research boosted their price objective on shares of Stride from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Canaccord Genuity Group began coverage on shares of Stride in a research note on Thursday, August 8th. They issued a “buy” rating and a $94.00 target price on the stock. StockNews.com upgraded shares of Stride from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Finally, Citigroup downgraded Stride from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $77.00 to $90.00 in a research report on Tuesday, August 20th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $85.83.

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.