Blair William & Co. IL Lowers Stock Holdings in Stride, Inc. (NYSE:LRN)

Blair William & Co. IL lessened its holdings in shares of Stride, Inc. (NYSE:LRN) by 0.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 76,931 shares of the company’s stock after selling 580 shares during the quarter. Blair William & Co. IL owned approximately 0.18% of Stride worth $5,424,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Nordea Investment Management AB lifted its position in Stride by 48.9% during the first quarter. Nordea Investment Management AB now owns 105,630 shares of the company’s stock worth $6,698,000 after buying an additional 34,682 shares during the period. Norges Bank acquired a new stake in shares of Stride in the fourth quarter worth approximately $25,594,000. UniSuper Management Pty Ltd purchased a new stake in Stride in the first quarter valued at approximately $555,000. Trexquant Investment LP acquired a new position in Stride during the fourth quarter worth approximately $1,752,000. Finally, Blue Trust Inc. raised its stake in Stride by 795.5% during the second quarter. Blue Trust Inc. now owns 11,543 shares of the company’s stock worth $814,000 after purchasing an additional 10,254 shares during the period. Institutional investors and hedge funds own 98.24% of the company’s stock.

Stride Price Performance

LRN stock opened at $85.03 on Friday. The firm has a market cap of $3.68 billion, a P/E ratio of 19.96, a price-to-earnings-growth 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. The stock has a 50-day simple moving average of $78.21 and a 200-day simple moving average of $70.30.

Stride (NYSE:LRN) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.15. Stride had a net margin of 10.01% and a return on equity of 19.12%. The company had revenue of $534.18 million during the quarter, compared to the consensus estimate of $525.89 million. During the same quarter last year, the company earned $1.01 earnings per share. Stride’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, equities analysts predict that Stride, Inc. will post 5.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. StockNews.com raised shares of Stride from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Barrington Research reissued an “outperform” rating and set a $90.00 price target on shares of Stride in a research report on Friday. BMO Capital Markets raised their price objective on Stride from $79.00 to $82.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Canaccord Genuity Group began coverage on Stride in a report on Thursday, August 8th. They set a “buy” rating and a $94.00 target price for the company. Finally, Canaccord Genuity Group initiated coverage on shares of Stride in a research report on Thursday, August 8th. They set a “buy” rating and a $94.00 target price for the company. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.