Daiwa Securities Group Inc. Sells 155 Shares of Stride, Inc. (NYSE:LRN)

Daiwa Securities Group Inc. decreased its position in Stride, Inc. (NYSE:LRN) by 13.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 975 shares of the company’s stock after selling 155 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Stride were worth $83,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mendota Financial Group LLC bought a new position in shares of Stride in the 3rd quarter worth about $86,000. nVerses Capital LLC purchased a new stake in Stride in the second quarter worth about $78,000. GAMMA Investing LLC increased its stake in shares of 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. Central Pacific Bank Trust Division lifted its holdings in shares of Stride by 24.2% during the third quarter. Central Pacific Bank Trust Division now owns 2,153 shares of the company’s stock valued at $184,000 after purchasing an additional 420 shares during the last quarter. Finally, Retirement Guys Formula LLC bought a new stake in shares of Stride in the 3rd quarter worth approximately $203,000. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Insider Transactions at Stride

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on LRN. Canaccord Genuity Group raised their price objective on Stride from $94.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Canaccord Genuity Group started coverage on Stride in a report on Thursday, August 8th. They set a “buy” rating and a $94.00 price target for the company. StockNews.com cut shares of Stride from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Citigroup increased their price objective on shares of Stride from $90.00 to $94.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Finally, Barrington Research lifted their target price 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 investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $90.17.

Stride Price Performance

Shares of NYSE:LRN opened at $106.87 on Monday. The business has a 50-day simple moving average of $89.13 and a two-hundred day simple moving average of $79.28. The company has a debt-to-equity ratio of 0.38, a quick ratio of 5.50 and a current ratio of 5.60. The firm has a market cap of $4.66 billion, a price-to-earnings ratio of 19.43, a price-to-earnings-growth ratio of 0.80 and a beta of 0.27. Stride, Inc. has a fifty-two week low of $54.81 and a fifty-two week high of $108.48.

Stride (NYSE:LRN) last issued its quarterly earnings data 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. Stride had a net margin of 11.38% and a return on equity of 21.23%. The company had revenue of $551.08 million for the quarter, compared to the consensus estimate of $504.29 million. During the same quarter in the prior year, the firm earned $0.11 earnings per share. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, analysts expect that Stride, Inc. will post 6.66 earnings per share for the current year.

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.