Atom Investors LP Buys New Position in Stride, Inc. (NYSE:LRN)

Atom Investors LP bought a new stake in shares of Stride, Inc. (NYSE:LRN) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 14,938 shares of the company’s stock, valued at approximately $1,274,000.

Other institutional investors have also added to or reduced their stakes in the company. William Blair Investment Management LLC increased its stake in shares of Stride by 20.1% in the 2nd quarter. William Blair Investment Management LLC now owns 2,122,102 shares of the company’s stock worth $149,608,000 after purchasing an additional 355,614 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its position in Stride by 51.1% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 929,855 shares of the company’s stock worth $79,326,000 after buying an additional 314,435 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Stride by 72.4% in the third quarter. Victory Capital Management Inc. now owns 827,505 shares of the company’s stock worth $70,594,000 after buying an additional 347,564 shares during the period. Rockefeller Capital Management L.P. raised its stake in shares of Stride by 0.7% in the third quarter. Rockefeller Capital Management L.P. now owns 753,728 shares of the company’s stock worth $64,286,000 after buying an additional 5,278 shares during the period. Finally, Congress Asset Management Co. purchased a new position in shares of Stride during the 3rd quarter valued at about $45,616,000. 98.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. StockNews.com lowered shares of Stride from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Canaccord Genuity Group began coverage on shares of Stride in a research note on Thursday, August 8th. They issued a “buy” rating and a $94.00 price objective for the company. Canaccord Genuity Group lifted their target price on shares of Stride from $94.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Citigroup increased their price target on Stride from $90.00 to $94.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Finally, Barrington Research boosted their price objective on Stride from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Stride currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.17.

Stride Trading Up 2.9 %

Shares of Stride stock opened at $110.04 on Wednesday. Stride, Inc. has a twelve month low of $54.81 and a twelve month high of $111.14. The company has a quick ratio of 5.50, a current ratio of 5.60 and a debt-to-equity ratio of 0.38. The business has a 50-day moving average price of $90.07 and a 200-day moving average price of $79.87. The firm has a market cap of $4.80 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 0.80 and a beta of 0.30.

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

Insider Buying and Selling

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 value of $734,883.12. Following the completion of the transaction, the director now owns 85,058 shares in the company, valued at approximately $7,786,209.32. This trade represents a 8.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.00% of the stock is currently owned by company insiders.

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.