Stride, Inc. (NYSE:LRN) Position Boosted by Sanctuary Advisors LLC

Sanctuary Advisors LLC grew its holdings in Stride, Inc. (NYSE:LRN) by 161.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,859 shares of the company’s stock after purchasing an additional 12,896 shares during the period. Sanctuary Advisors LLC’s holdings in Stride were worth $1,779,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in LRN. International Assets Investment Management LLC boosted its position in Stride by 8,431.7% during the third quarter. International Assets Investment Management LLC now owns 5,119 shares of the company’s stock valued at $437,000 after purchasing an additional 5,059 shares during the last quarter. Quest Partners LLC raised its stake in shares of Stride by 20,248.8% during the 3rd quarter. Quest Partners LLC now owns 8,343 shares of the company’s stock worth $712,000 after purchasing an additional 8,302 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Stride by 24.6% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 36,000 shares of the company’s stock valued at $3,071,000 after buying an additional 7,100 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Stride by 634.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 117,913 shares of the company’s stock valued at $10,059,000 after buying an additional 101,869 shares in the last quarter. Finally, Entropy Technologies LP acquired a new position in Stride in the third quarter worth approximately $442,000. 98.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Stride

In related news, Director Todd Goldthwaite sold 8,028 shares of Stride stock in a transaction dated 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 of the company’s stock, valued at $7,786,209.32. This trade represents a 8.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.00% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on LRN. Morgan Stanley lifted their target price on shares of Stride from $94.00 to $109.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Canaccord Genuity Group raised their target price on Stride from $94.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Barrington Research upped their price target on Stride from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Citigroup raised their price objective on Stride from $90.00 to $94.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Finally, BMO Capital Markets upped their target price on Stride from $84.00 to $88.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $97.50.

Stride Trading Up 0.8 %

Stride stock opened at $106.08 on Friday. Stride, Inc. has a 52 week low of $54.81 and a 52 week high of $112.80. 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 capitalization of $4.62 billion, a PE ratio of 19.29, a PEG ratio of 0.80 and a beta of 0.30. The business’s 50-day simple moving average is $95.87 and its 200-day simple moving average is $82.71.

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

Stride 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.