Point72 Asset Management L.P. Has $18.05 Million Stock Holdings in Stride, Inc. (NYSE:LRN)

Point72 Asset Management L.P. raised its holdings in Stride, Inc. (NYSE:LRN) by 187.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 211,627 shares of the company’s stock after acquiring an additional 138,054 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.49% of Stride worth $18,054,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LRN. Mendota Financial Group LLC purchased a new stake in shares of Stride in the third quarter valued at about $86,000. nVerses Capital LLC bought a new position in shares of Stride in the second quarter worth $78,000. GAMMA Investing LLC grew its stake in Stride by 45.3% during the third quarter. GAMMA Investing LLC now owns 2,061 shares of the company’s stock valued at $176,000 after acquiring an additional 643 shares in the last quarter. Central Pacific Bank Trust Division increased its holdings in shares of Stride by 24.2% in the third quarter. Central Pacific Bank Trust Division now owns 2,153 shares of the company’s stock worth $184,000 after purchasing an additional 420 shares during the period. Finally, Retirement Guys Formula LLC bought a new stake in shares of Stride during the 3rd quarter valued at about $203,000. 98.24% of the stock is owned by institutional investors and hedge funds.

Stride Stock Performance

Shares of LRN opened at $110.44 on Friday. 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 stock has a 50-day moving average of $91.66 and a two-hundred day moving average of $80.58. Stride, Inc. has a one year low of $54.81 and a one year high of $112.80. The stock has a market cap of $4.81 billion, a P/E ratio of 20.08, a P/E/G ratio of 0.83 and a beta of 0.30.

Stride (NYSE:LRN) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.72. The company 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 firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.11 earnings per share. As a group, research analysts predict that Stride, Inc. will post 6.66 EPS for the current year.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Canaccord Genuity Group boosted their price target on shares of Stride from $94.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Barrington Research increased their price target 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. StockNews.com cut shares of Stride from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. BMO Capital Markets raised their price target on shares of Stride from $84.00 to $88.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Citigroup raised their target price on Stride from $90.00 to $94.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $90.17.

Insider Buying and Selling at Stride

In other Stride 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 transaction, the director now owns 85,058 shares in the company, valued at $7,786,209.32. The trade was a 8.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.00% of the stock is currently owned by corporate insiders.

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.