Stride, Inc. (NYSE:LRN) Shares Sold by Castellan Group

Castellan Group cut its holdings in shares of Stride, Inc. (NYSE:LRN) by 6.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,160 shares of the company’s stock after selling 900 shares during the quarter. Castellan Group’s holdings in Stride were worth $1,208,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. William Blair Investment Management LLC raised its stake in Stride by 20.1% during the second quarter. William Blair Investment Management LLC now owns 2,122,102 shares of the company’s stock valued at $149,608,000 after buying an additional 355,614 shares in the last quarter. Janus Henderson Group PLC grew its position in Stride by 1.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,170,434 shares of the company’s stock valued at $99,851,000 after buying an additional 13,050 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Stride by 3.8% during the third quarter. Geode Capital Management LLC now owns 964,701 shares of the company’s stock valued at $82,315,000 after acquiring an additional 35,349 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in Stride by 51.1% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 929,855 shares of the company’s stock valued at $79,326,000 after buying an additional 314,435 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Stride by 72.4% in the 3rd quarter. Victory Capital Management Inc. now owns 827,505 shares of the company’s stock worth $70,594,000 after purchasing an additional 347,564 shares during the last quarter. 98.24% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LRN. Canaccord Genuity Group boosted their target price on Stride from $94.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Citigroup raised their target price on shares of Stride from $90.00 to $94.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Barrington Research raised their price objective on shares of Stride from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Morgan Stanley increased their target price on Stride from $94.00 to $109.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, StockNews.com downgraded Stride from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $97.50.

Stride Stock Up 1.1 %

LRN opened at $107.41 on Friday. Stride, Inc. has a twelve month low of $54.81 and a twelve month 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 business has a 50 day moving average price of $93.51 and a 200 day moving average price of $81.59. The firm has a market cap of $4.68 billion, a P/E ratio of 19.53, a price-to-earnings-growth ratio of 0.80 and a beta of 0.30.

Stride (NYSE:LRN) last announced its 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 net margin of 11.38% and a return on equity of 21.23%. The firm had revenue of $551.08 million for the quarter, compared to the consensus estimate of $504.29 million. During the same quarter last year, the firm posted $0.11 EPS. The business’s quarterly revenue was up 14.8% on a year-over-year basis. Research analysts forecast that Stride, Inc. will post 6.66 EPS 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.