Geode Capital Management LLC raised its position in shares of Stride, Inc. (NYSE:LRN - Free Report) by 3.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 964,701 shares of the company's stock after purchasing an additional 35,349 shares during the quarter. Geode Capital Management LLC owned about 2.21% of Stride worth $82,315,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of LRN. nVerses Capital LLC bought a new stake in Stride in the second quarter worth about $78,000. Mendota Financial Group LLC acquired a new position in shares of Stride in the 3rd quarter worth approximately $86,000. GAMMA Investing LLC raised its holdings in shares of Stride by 45.3% in the 3rd quarter. GAMMA Investing LLC now owns 2,061 shares of the company's stock worth $176,000 after purchasing an additional 643 shares in the last quarter. Central Pacific Bank Trust Division lifted its stake in 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 Stride during the third quarter worth approximately $203,000. 98.24% of the stock is currently owned by institutional investors and hedge funds.
Stride stock opened at $106.08 on Friday. Stride, Inc. has a 12 month low of $54.81 and a 12 month high of $112.80. 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 stock has a market cap of $4.62 billion, a P/E ratio of 19.29, a P/E/G ratio of 0.80 and a beta of 0.30. The company's fifty day simple moving average is $95.87 and its 200-day simple moving average is $82.71.
Stride (NYSE:LRN - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.72. The firm had revenue of $551.08 million during the quarter, compared to analysts' expectations of $504.29 million. Stride had a net margin of 11.38% and a return on equity of 21.23%. The company's revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.11 earnings per share. As a group, sell-side analysts forecast that Stride, Inc. will post 6.66 EPS for the current fiscal year.
In other news, Director Todd Goldthwaite sold 8,028 shares of the business's stock in a transaction 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 completion of the sale, the director now directly owns 85,058 shares in the company, valued at approximately $7,786,209.32. The trade was a 8.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.00% of the stock is currently owned by insiders.
Several research analysts have issued reports on the company. StockNews.com cut Stride from a "buy" rating to a "hold" rating in a report on Wednesday, October 23rd. Citigroup upped their price target 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. Morgan Stanley lifted their price objective on shares of Stride from $94.00 to $109.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 12th. Canaccord Genuity Group increased 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. Finally, BMO Capital Markets raised 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 analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Stride currently has a consensus rating of "Moderate Buy" and a consensus price target of $97.50.
Check Out Our Latest Report on LRN
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.
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