Atria Investments Inc Makes New Investment in Stride, Inc. (NYSE:LRN)

Atria Investments Inc purchased a new position in shares of Stride, Inc. (NYSE:LRN) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,216 shares of the company’s stock, valued at approximately $274,000.

Other hedge funds have also made changes to their positions in the company. State Board of Administration of Florida Retirement System grew its holdings in Stride by 15.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 14,014 shares of the company’s stock valued at $884,000 after purchasing an additional 1,900 shares during the last quarter. O Shaughnessy Asset Management LLC raised its holdings in Stride by 12.9% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,202 shares of the company’s stock worth $265,000 after acquiring an additional 481 shares during the period. UniSuper Management Pty Ltd acquired a new position in Stride during the 1st quarter worth $555,000. CANADA LIFE ASSURANCE Co boosted its holdings in Stride by 5.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 57,725 shares of the company’s stock valued at $3,639,000 after acquiring an additional 2,847 shares during the period. Finally, EntryPoint Capital LLC acquired a new stake in shares of Stride in the first quarter valued at about $77,000. Institutional investors and hedge funds own 98.24% of the company’s stock.

Analyst Upgrades and Downgrades

LRN has been the subject of several recent analyst reports. Canaccord Genuity Group started coverage on Stride in a research note on Thursday, August 8th. They set a “buy” rating and a $94.00 target price for the company. StockNews.com downgraded shares of Stride from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Citigroup upped their target price on shares of Stride from $90.00 to $94.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. BMO Capital Markets raised their price target on shares of Stride from $84.00 to $88.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, 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. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $90.17.

Insider Activity

In other news, Director Todd Goldthwaite sold 8,028 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $91.54, for a total value of $734,883.12. Following the sale, the director now owns 85,058 shares of the company’s stock, valued at approximately $7,786,209.32. This represents a 8.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.00% of the company’s stock.

Stride Stock Up 0.5 %

LRN opened at $103.93 on Friday. The company has a market capitalization of $4.53 billion, a P/E ratio of 18.80, a P/E/G ratio of 0.76 and a beta of 0.27. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.60 and a quick ratio of 5.50. The firm’s fifty day moving average price is $86.32 and its two-hundred day moving average price is $77.77. Stride, Inc. has a fifty-two week low of $54.81 and a fifty-two week high of $104.68.

Stride (NYSE:LRN) last posted its earnings results on Tuesday, October 22nd. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.72. The business had revenue of $551.08 million for the quarter, compared to analysts’ expectations of $504.29 million. Stride had a net margin of 11.38% and a return on equity of 21.23%. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.11 earnings per share. On average, analysts anticipate that Stride, Inc. will post 6.66 EPS for the current year.

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.