Stride, Inc. (NYSE:LRN) Shares Sold by Weil Company Inc.

Weil Company Inc. reduced its stake in Stride, Inc. (NYSE:LRN) by 32.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,813 shares of the company’s stock after selling 8,460 shares during the period. Weil Company Inc.’s holdings in Stride were worth $1,256,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in LRN. Arizona State Retirement System lifted its holdings in shares of Stride by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 11,536 shares of the company’s stock worth $813,000 after purchasing an additional 220 shares during the last quarter. Victory Capital Management Inc. increased its position in Stride by 1,443.6% in the second quarter. Victory Capital Management Inc. now owns 479,941 shares of the company’s stock worth $33,836,000 after buying an additional 448,849 shares during the period. Rhumbline Advisers lifted its stake in Stride by 1.0% in the second quarter. Rhumbline Advisers now owns 115,904 shares of the company’s stock valued at $8,171,000 after buying an additional 1,110 shares during the last quarter. Natixis Advisors LLC acquired a new position in shares of Stride during the second quarter valued at $8,701,000. Finally, Ritholtz Wealth Management bought a new position in shares of Stride during the second quarter worth about $292,000. 98.24% of the stock is owned by institutional investors.

Stride Price Performance

NYSE LRN opened at $79.55 on Friday. Stride, Inc. has a 12 month low of $42.95 and a 12 month high of $83.97. The firm has a market capitalization of $3.44 billion, a PE ratio of 18.67, a P/E/G ratio of 0.82 and a beta of 0.26. The company’s 50 day simple moving average is $75.53 and its 200 day simple moving average is $68.63. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.10 and a quick ratio of 4.95.

Stride (NYSE:LRN) last issued its quarterly earnings results 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. The company had revenue of $534.18 million for the quarter, compared to analysts’ expectations of $525.89 million. Stride had a return on equity of 19.12% and a net margin of 10.01%. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period last year, the firm earned $1.01 EPS. As a group, equities research analysts forecast that Stride, Inc. will post 5.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

LRN has been the topic of several recent research reports. Canaccord Genuity Group initiated coverage on shares of Stride in a research report on Thursday, August 8th. They issued a “buy” rating and a $94.00 price objective on the stock. Canaccord Genuity Group assumed coverage on Stride in a report on Thursday, August 8th. They set a “buy” rating and a $94.00 price target on the stock. Barrington Research increased their price objective on Stride from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. BMO Capital Markets raised their target price on Stride from $79.00 to $82.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Finally, Citigroup lowered Stride from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $77.00 to $90.00 in a research report on Tuesday, August 20th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $85.83.

Stride Profile

Stride, Inc, a technology-based education service company, provides proprietary and third-party online curriculum, software systems, and educational services to facilitate individualized learning for students primarily in kindergarten through 12th grade (K-12) in the United States and internationally.