Charles Schwab Investment Management Inc. Acquires 16,114 Shares of Stride, Inc. (NYSE:LRN)

Charles Schwab Investment Management Inc. increased its holdings in Stride, Inc. (NYSE:LRN) by 3.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 518,821 shares of the company’s stock after purchasing an additional 16,114 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.19% of Stride worth $44,261,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of LRN. Mendota Financial Group LLC bought a new stake in shares of Stride during the 3rd quarter worth about $86,000. nVerses Capital LLC acquired a new position in Stride during the second quarter valued at approximately $78,000. GAMMA Investing LLC raised its position in shares of Stride by 45.3% in 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 during the period. Central Pacific Bank Trust Division lifted its stake in shares of Stride by 24.2% in the third quarter. Central Pacific Bank Trust Division now owns 2,153 shares of the company’s stock worth $184,000 after buying an additional 420 shares during the last quarter. Finally, Retirement Guys Formula LLC bought a new stake in shares of Stride during the 3rd quarter worth $203,000. 98.24% of the stock is owned by institutional investors and hedge funds.

Stride Stock Down 0.2 %

NYSE LRN opened at $106.87 on Monday. Stride, Inc. has a 1-year low of $54.81 and a 1-year high of $108.48. The company has a current ratio of 5.60, a quick ratio of 5.50 and a debt-to-equity ratio of 0.38. The stock’s 50 day moving average is $89.13 and its two-hundred day moving average is $79.28. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of 19.43, a PEG ratio of 0.80 and a beta of 0.27.

Stride (NYSE:LRN) last announced its quarterly 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 firm had revenue of $551.08 million for 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 prior year, the business posted $0.11 earnings per share. Equities analysts forecast that Stride, Inc. will post 6.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LRN has been the topic of several recent analyst reports. Barrington Research boosted their target price on shares of Stride from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Canaccord Genuity Group boosted their price objective on Stride from $94.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. BMO Capital Markets raised their target price on Stride from $84.00 to $88.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Citigroup lifted their price target on Stride from $90.00 to $94.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Finally, StockNews.com downgraded shares of Stride from a “buy” rating to a “hold” rating in a research note 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $90.17.

Insider Buying and Selling

In related news, Director Todd Goldthwaite sold 8,028 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $91.54, for a total transaction of $734,883.12. Following the sale, the director now directly owns 85,058 shares in the company, valued at $7,786,209.32. This represents a 8.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.00% of the stock is currently owned by corporate insiders.

Stride Company 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.