US Bancorp DE Sells 965 Shares of Stride, Inc. (NYSE:LRN)

US Bancorp DE lessened its holdings in shares of Stride, Inc. (NYSE:LRN) by 37.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,612 shares of the company’s stock after selling 965 shares during the quarter. US Bancorp DE’s holdings in Stride were worth $138,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. EntryPoint Capital LLC bought a new stake in Stride during the first quarter valued at approximately $77,000. nVerses Capital LLC bought a new stake in shares of Stride during the 2nd quarter worth $78,000. Mendota Financial Group LLC purchased a new position in Stride in the third quarter worth $86,000. Advisors Asset Management Inc. increased its stake in Stride by 38.0% in the first quarter. Advisors Asset Management Inc. now owns 2,740 shares of the company’s stock valued at $173,000 after acquiring an additional 754 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Stride by 45.3% during the third quarter. GAMMA Investing LLC now owns 2,061 shares of the company’s stock valued at $176,000 after purchasing an additional 643 shares in the last quarter. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Stride Trading Up 0.7 %

Shares of LRN opened at $100.29 on Friday. The stock has a market capitalization of $4.37 billion, a P/E ratio of 18.23, a PEG ratio of 0.75 and a beta of 0.27. Stride, Inc. has a twelve month low of $54.81 and a twelve month high of $103.98. The company has a quick ratio of 5.50, a current ratio of 5.60 and a debt-to-equity ratio of 0.38. The firm has a fifty day simple moving average of $84.43 and a two-hundred day simple moving average of $76.81.

Stride (NYSE:LRN) last posted its earnings results on Tuesday, October 22nd. The company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.72. Stride had a net margin of 11.38% and a return on equity of 21.23%. 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 business posted $0.11 earnings per share. Stride’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, research analysts anticipate that Stride, Inc. will post 6.66 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on LRN. StockNews.com cut Stride from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Canaccord Genuity Group assumed coverage on shares of Stride in a research report on Thursday, August 8th. They set a “buy” rating and a $94.00 price target on the stock. Barrington Research boosted their price objective on shares of Stride from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Citigroup increased their target price on shares of Stride from $90.00 to $94.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Finally, BMO Capital Markets boosted their price target on shares of Stride from $84.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Stride has a consensus rating of “Moderate Buy” and a consensus price target of $90.17.

Insider Activity at Stride

In related news, Director Todd Goldthwaite sold 8,028 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were 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 in the company, valued at $7,786,209.32. The trade was a 8.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.00% of the stock is owned by corporate insiders.

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.