Stride, Inc. (NYSE:LRN) Shares Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue grew its position in Stride, Inc. (NYSE:LRN) by 3.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,279 shares of the company’s stock after buying an additional 825 shares during the quarter. State of Alaska Department of Revenue owned 0.06% of Stride worth $2,071,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Motco acquired a new position in Stride in the 1st quarter valued at about $74,000. EntryPoint Capital LLC acquired a new position in shares of Stride in the first quarter valued at approximately $77,000. nVerses Capital LLC acquired a new position in shares of Stride in the second quarter valued at approximately $78,000. Mendota Financial Group LLC purchased a new stake in Stride during the 3rd quarter worth approximately $86,000. Finally, Advisors Asset Management Inc. boosted its position in Stride by 38.0% in the 1st quarter. Advisors Asset Management Inc. now owns 2,740 shares of the company’s stock valued at $173,000 after buying an additional 754 shares during the period. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Stride Trading Up 0.1 %

Shares of Stride stock opened at $93.37 on Friday. The company has a current ratio of 5.60, a quick ratio of 5.50 and a debt-to-equity ratio of 0.38. The company has a fifty day simple moving average of $80.60 and a 200-day simple moving average of $73.91. The stock has a market cap of $4.07 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 0.71 and a beta of 0.26. Stride, Inc. has a 12-month low of $54.74 and a 12-month high of $96.07.

Stride (NYSE:LRN) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $504.29 million. During the same quarter last year, the company posted $0.11 earnings per share. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. On average, equities analysts forecast that Stride, Inc. will post 6.66 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Todd Goldthwaite sold 8,028 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 85,058 shares of the company’s stock, valued at approximately $7,786,209.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.76% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

LRN has been the topic of several analyst reports. BMO Capital Markets increased 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. Canaccord Genuity Group initiated coverage on Stride in a research report on Thursday, August 8th. They set a “buy” rating and a $94.00 price objective for the company. StockNews.com cut shares of Stride from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Barrington Research lifted their price objective on shares of Stride from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, 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. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.17.

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.