Point72 Asia Singapore Pte. Ltd. Sells 3,095 Shares of Stride, Inc. (NYSE:LRN)

Point72 Asia Singapore Pte. Ltd. decreased its stake in shares of Stride, Inc. (NYSE:LRN) by 69.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,388 shares of the company’s stock after selling 3,095 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Stride were worth $98,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Motco bought a new position in shares of Stride in the first quarter worth approximately $74,000. EntryPoint Capital LLC purchased a new stake in Stride during the 1st quarter valued at $77,000. nVerses Capital LLC bought a new position in shares of Stride during the 2nd quarter valued at $78,000. GAMMA Investing LLC boosted its stake in shares of Stride by 25.9% in the 1st quarter. GAMMA Investing LLC now owns 1,372 shares of the company’s stock worth $87,000 after buying an additional 282 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in shares of Stride by 38.0% in the first quarter. Advisors Asset Management Inc. now owns 2,740 shares of the company’s stock worth $173,000 after acquiring an additional 754 shares during the period. Institutional investors own 98.24% of the company’s stock.

Stride Trading Down 2.3 %

Shares of NYSE:LRN opened at $80.15 on Friday. The stock has a 50 day moving average of $80.74 and a 200 day moving average of $71.80. The company has a market cap of $3.47 billion, a PE ratio of 18.81, a price-to-earnings-growth ratio of 0.84 and a beta of 0.26. Stride, Inc. has a 12-month low of $43.77 and a 12-month high of $88.02. The company has a current ratio of 5.10, a quick ratio of 4.95 and a debt-to-equity ratio of 0.38.

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

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Canaccord Genuity Group started coverage on Stride in a report on Thursday, August 8th. They issued a “buy” rating and a $94.00 target price on the stock. Canaccord Genuity Group started coverage on shares of Stride in a research report on Thursday, August 8th. They set a “buy” rating and a $94.00 price target for the company. BMO Capital Markets raised their price objective on shares of Stride from $79.00 to $82.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. StockNews.com raised shares of Stride from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Finally, Citigroup cut shares of Stride from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $77.00 to $90.00 in a research note on Tuesday, August 20th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Stride presently 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.