Stride, Inc. (NYSE:LRN) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D reduced its position in Stride, Inc. (NYSE:LRN) by 43.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,869 shares of the company’s stock after selling 20,938 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.06% of Stride worth $1,894,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of LRN. Quadrant Capital Group LLC boosted its holdings in shares of Stride by 76.7% in the fourth quarter. Quadrant Capital Group LLC now owns 1,113 shares of the company’s stock valued at $66,000 after acquiring an additional 483 shares during the period. Motco purchased a new stake in shares of Stride during the first quarter worth approximately $74,000. EntryPoint Capital LLC purchased a new stake in shares of Stride during the first quarter worth approximately $77,000. nVerses Capital LLC purchased a new stake in shares of Stride during the second quarter worth approximately $78,000. Finally, GAMMA Investing LLC raised its stake in shares of Stride by 25.9% during the first quarter. GAMMA Investing LLC now owns 1,372 shares of the company’s stock worth $87,000 after purchasing an additional 282 shares during the last quarter. 98.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LRN has been the subject of several analyst reports. Citigroup cut Stride from a “buy” rating to a “neutral” rating and upped their price target for the stock from $77.00 to $90.00 in a research note on Tuesday, August 20th. Canaccord Genuity Group initiated coverage on Stride in a research note on Thursday, August 8th. They set a “buy” rating and a $94.00 price target for the company. Barrington Research restated an “outperform” rating and set a $90.00 price target on shares of Stride in a research note on Friday. BMO Capital Markets upped their price target on Stride from $79.00 to $82.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, StockNews.com upgraded Stride from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $85.83.

Stride Trading Up 0.9 %

NYSE:LRN opened at $85.03 on Monday. The stock has a fifty day moving average price of $78.21 and a two-hundred day moving average price of $70.37. The stock has a market capitalization of $3.68 billion, a price-to-earnings ratio of 19.96, a PEG 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 1 year low of $43.77 and a 1 year high of $86.06.

Stride (NYSE:LRN) last released its quarterly earnings data 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 analysts’ expectations of $525.89 million. Stride had a return on equity of 19.12% and a net margin of 10.01%. Stride’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.01 earnings per share. As a group, sell-side analysts anticipate that Stride, Inc. will post 5.05 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.