Stride, Inc. (NYSE:LRN) Shares Acquired by Ritholtz Wealth Management

Ritholtz Wealth Management boosted its stake in shares of Stride, Inc. (NYSE:LRN) by 52.9% in the fourth quarter, HoldingsChannel reports. The firm owned 10,047 shares of the company’s stock after purchasing an additional 3,474 shares during the quarter. Ritholtz Wealth Management’s holdings in Stride were worth $1,044,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in LRN. Envestnet Asset Management Inc. boosted its position in shares of Stride by 2.9% during the second quarter. Envestnet Asset Management Inc. now owns 149,068 shares of the company’s stock worth $10,509,000 after buying an additional 4,191 shares during the period. Sei Investments Co. boosted its position in Stride by 0.6% during the 2nd quarter. Sei Investments Co. now owns 40,210 shares of the company’s stock worth $2,834,000 after acquiring an additional 242 shares during the period. Hancock Whitney Corp bought a new position in shares of Stride in the second quarter worth $205,000. Public Sector Pension Investment Board increased its holdings in shares of Stride by 7.7% during the second quarter. Public Sector Pension Investment Board now owns 87,860 shares of the company’s stock valued at $6,194,000 after purchasing an additional 6,282 shares during the period. Finally, Marshall Wace LLP bought a new stake in shares of Stride during the second quarter valued at about $230,000. 98.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Barrington Research upped their price target on shares of Stride from $100.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday. Morgan Stanley upped their target price on Stride from $94.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. StockNews.com cut Stride from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Canaccord Genuity Group upped their price objective on Stride from $94.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Citigroup lifted their target price on Stride from $90.00 to $94.00 and gave the stock a “neutral” rating in a report 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 data from MarketBeat.com, Stride has an average rating of “Moderate Buy” and a consensus price target of $102.50.

Insider Buying and Selling

In other Stride news, Director Todd Goldthwaite sold 8,028 shares of the stock in a transaction that occurred 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 sale, the director now owns 85,058 shares in the company, valued at $7,786,209.32. This represents a 8.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.00% of the company’s stock.

Stride Stock Performance

Shares of LRN opened at $113.90 on Monday. The company has a 50-day moving average of $106.47 and a two-hundred day moving average of $88.80. The stock has a market cap of $4.96 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 0.84 and a beta of 0.32. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.60 and a quick ratio of 5.50. Stride, Inc. has a one year low of $54.81 and a one year high of $115.42.

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 the consensus estimate of $0.22 by $0.72. The firm had revenue of $551.08 million for 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 company’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.11 EPS. On average, equities research analysts expect that Stride, Inc. will post 6.64 earnings per share for the current year.

About Stride

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.