Erste Asset Management GmbH Acquires New Stake in Stride, Inc. (NYSE:LRN)

Erste Asset Management GmbH bought a new position in Stride, Inc. (NYSE:LRNFree Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 75,486 shares of the company’s stock, valued at approximately $6,391,000.

Several other hedge funds have also recently made changes to their positions in LRN. Rockefeller Capital Management L.P. grew its stake in shares of Stride by 0.7% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 753,728 shares of the company’s stock worth $64,286,000 after acquiring an additional 5,278 shares during the period. Isthmus Partners LLC lifted its holdings in Stride by 11.8% during the third quarter. Isthmus Partners LLC now owns 5,384 shares of the company’s stock valued at $459,000 after purchasing an additional 570 shares during the last quarter. Public Sector Pension Investment Board boosted its position in Stride by 2.7% during the third quarter. Public Sector Pension Investment Board now owns 90,260 shares of the company’s stock worth $7,700,000 after purchasing an additional 2,400 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Stride by 4.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,421 shares of the company’s stock worth $1,145,000 after purchasing an additional 625 shares in the last quarter. Finally, Glenmede Trust Co. NA raised its position in shares of Stride by 3.6% in the third quarter. Glenmede Trust Co. NA now owns 25,990 shares of the company’s stock valued at $2,217,000 after purchasing an additional 910 shares during the period. 98.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Citigroup raised their price objective on shares of Stride from $90.00 to $94.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Canaccord Genuity Group lifted their price target on Stride from $94.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Canaccord Genuity Group initiated coverage on Stride in a research note on Thursday, August 8th. They set a “buy” rating and a $94.00 price objective on the stock. StockNews.com downgraded Stride from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Finally, Barrington Research upped their price target on Stride from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $90.17.

Read Our Latest Report on LRN

Insider Transactions at Stride

In other Stride news, Director Todd Goldthwaite sold 8,028 shares of the firm’s 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 owns 85,058 shares in the company, 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 document filed with the SEC, which is available at this hyperlink. 3.00% of the stock is currently owned by insiders.

Stride Stock Performance

NYSE:LRN opened at $106.95 on Tuesday. The stock has a market cap of $4.66 billion, a P/E ratio of 19.44, a PEG ratio of 0.80 and a beta of 0.27. 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’s 50-day moving average price is $89.57 and its two-hundred day moving average price is $79.59. Stride, Inc. has a twelve month low of $54.81 and a twelve month high of $108.48.

Stride (NYSE:LRNGet Free Report) last announced its earnings results on Tuesday, October 22nd. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.72. Stride had a net margin of 11.38% and a return on equity of 21.23%. The business had revenue of $551.08 million for the quarter, compared to the consensus estimate of $504.29 million. During the same period last year, the firm posted $0.11 earnings per share. Stride’s quarterly revenue was up 14.8% on a year-over-year basis. As a group, equities analysts predict that Stride, Inc. will post 6.66 EPS for the current fiscal year.

Stride Profile

(Free Report)

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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Institutional Ownership by Quarter for Stride (NYSE:LRN)

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