Burney Co. Sells 757 Shares of Stride, Inc. (NYSE:LRN)

Burney Co. reduced its position in shares of Stride, Inc. (NYSE:LRN) by 2.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 35,054 shares of the company’s stock after selling 757 shares during the period. Burney Co.’s holdings in Stride were worth $3,643,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Congress Asset Management Co. acquired a new position in Stride during the 3rd quarter valued at about $45,616,000. Victory Capital Management Inc. grew its holdings in Stride by 72.4% during 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 in the last quarter. Vaughan Nelson Investment Management L.P. raised its position in Stride by 51.1% in the 3rd 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 during the last quarter. Loomis Sayles & Co. L P bought a new position in Stride during the 3rd quarter valued at $21,044,000. Finally, Wellington Management Group LLP boosted its holdings in Stride by 416.7% during the 3rd quarter. Wellington Management Group LLP now owns 275,483 shares of the company’s stock worth $23,501,000 after acquiring an additional 222,165 shares during the last quarter. 98.24% of the stock is currently owned by institutional investors.

Stride Stock Up 1.8 %

Shares of NYSE LRN opened at $111.29 on Thursday. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.60 and a quick ratio of 5.50. The stock has a market capitalization of $4.85 billion, a PE ratio of 20.23, a P/E/G ratio of 0.80 and a beta of 0.32. Stride, Inc. has a one year low of $54.81 and a one year high of $114.71. The business’s fifty day moving average price is $105.95 and its 200-day moving average price is $88.04.

Stride (NYSE:LRN) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.22 by $0.72. The business had revenue of $551.08 million for the quarter, compared to the consensus estimate 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 prior year, the firm earned $0.11 earnings per share. On average, equities research analysts anticipate that Stride, Inc. will post 6.64 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on LRN shares. Barrington Research increased their target price on shares of Stride from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Morgan Stanley lifted their target price 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 upped 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. BMO Capital Markets upped their price objective on Stride from $84.00 to $88.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Citigroup lifted their target price on Stride from $90.00 to $94.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.50.

Insider Activity at Stride

In other news, Director Todd Goldthwaite sold 8,028 shares of Stride stock in a transaction 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 completion of the transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.00% of the stock is currently owned by corporate insiders.

Stride 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.