Moran Wealth Management LLC Has $737,000 Stake in Stride, Inc. (NYSE:LRN)

Moran Wealth Management LLC raised its holdings in Stride, Inc. (NYSE:LRN) by 25.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,635 shares of the company’s stock after buying an additional 1,728 shares during the period. Moran Wealth Management LLC’s holdings in Stride were worth $737,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LRN. Swedbank AB acquired a new stake in shares of Stride in the first quarter valued at about $60,385,000. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Stride during the 2nd quarter worth approximately $43,387,000. Congress Asset Management Co. bought a new stake in shares of Stride during the 3rd quarter worth approximately $45,616,000. Victory Capital Management Inc. boosted its holdings in shares of Stride by 1,443.6% in the 2nd quarter. Victory Capital Management Inc. now owns 479,941 shares of the company’s stock valued at $33,836,000 after buying an additional 448,849 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Stride by 641.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 508,444 shares of the company’s stock valued at $32,058,000 after buying an additional 439,911 shares in the last quarter. 98.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the stock. Canaccord Genuity Group increased their price target 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. Canaccord Genuity Group assumed coverage on shares of Stride in a report on Thursday, August 8th. They issued a “buy” rating and a $94.00 target price on the stock. Barrington Research lifted their price target on Stride from $90.00 to $100.00 and gave the stock an “outperform” 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 research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $90.17.

Insider Buying and Selling at Stride

In other news, Director Todd Goldthwaite sold 8,028 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $91.54, for a total transaction of $734,883.12. Following the transaction, the director now directly owns 85,058 shares of the company’s stock, valued at approximately $7,786,209.32. This trade represents 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 this hyperlink. Insiders own 3.00% of the company’s stock.

Stride Price Performance

Shares of NYSE LRN opened at $103.35 on Friday. The firm has a market cap of $4.50 billion, a P/E ratio of 18.79, a price-to-earnings-growth ratio of 0.76 and a beta of 0.27. The business’s 50 day moving average is $85.87 and its 200-day moving average is $77.59. The company has a current ratio of 5.60, a quick ratio of 5.50 and a debt-to-equity ratio of 0.38. Stride, Inc. has a 1-year low of $54.81 and a 1-year high of $104.68.

Stride (NYSE:LRN) last posted its earnings results 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. Stride had a return on equity of 21.23% and a net margin of 11.38%. The company had revenue of $551.08 million during the quarter, compared to the consensus estimate of $504.29 million. During the same quarter last year, the firm earned $0.11 earnings per share. The company’s revenue was up 14.8% on a year-over-year basis. Equities research analysts predict that Stride, Inc. will post 6.66 earnings per share for the current year.

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.