Martingale Asset Management L P Trims Stock Holdings in Stride, Inc. (NYSE:LRN)

Martingale Asset Management L P lessened its position in shares of Stride, Inc. (NYSE:LRN) by 6.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 35,775 shares of the company’s stock after selling 2,361 shares during the quarter. Martingale Asset Management L P owned 0.08% of Stride worth $3,052,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. nVerses Capital LLC acquired a new stake in shares of Stride during the second quarter worth about $78,000. Mendota Financial Group LLC acquired a new stake in shares of Stride during the third quarter worth about $86,000. Advisors Asset Management Inc. lifted its holdings in shares of Stride by 38.0% during the first quarter. Advisors Asset Management Inc. now owns 2,740 shares of the company’s stock worth $173,000 after purchasing an additional 754 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Stride by 45.3% during the third quarter. GAMMA Investing LLC now owns 2,061 shares of the company’s stock worth $176,000 after purchasing an additional 643 shares during the period. Finally, Central Pacific Bank Trust Division lifted its holdings in shares of Stride by 24.2% during the third quarter. Central Pacific Bank Trust Division now owns 2,153 shares of the company’s stock worth $184,000 after purchasing an additional 420 shares during the period. 98.24% of the stock is owned by institutional investors and hedge funds.

Stride Trading Down 0.2 %

Shares of NYSE:LRN opened at $106.87 on Friday. The company has a market capitalization of $4.66 billion, a PE ratio of 19.43, a PEG ratio of 0.80 and a beta of 0.27. Stride, Inc. has a 12-month low of $54.81 and a 12-month high of $108.48. The business has a 50 day moving average of $88.69 and a two-hundred day moving average of $78.97. 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 (NYSE:LRN) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.72. The business 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%. The business’s revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.11 earnings per share. As a group, analysts forecast that Stride, Inc. will post 6.66 EPS for the current year.

Insider Activity

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 value of $734,883.12. Following the completion of the sale, the director now directly owns 85,058 shares in the company, valued at $7,786,209.32. The trade was a 8.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.