Stride, Inc. (NYSE:LRN) Shares Sold by Versor Investments LP

Versor Investments LP cut its stake in Stride, Inc. (NYSE:LRN) by 30.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,933 shares of the company’s stock after selling 1,700 shares during the period. Versor Investments LP’s holdings in Stride were worth $336,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. William Blair Investment Management LLC raised its stake in shares of Stride by 20.1% in the second quarter. William Blair Investment Management LLC now owns 2,122,102 shares of the company’s stock worth $149,608,000 after purchasing an additional 355,614 shares during the last quarter. Janus Henderson Group PLC raised its position in Stride by 2.7% during the 1st quarter. Janus Henderson Group PLC now owns 1,154,995 shares of the company’s stock worth $72,821,000 after buying an additional 30,854 shares during the last quarter. Swedbank AB acquired a new stake in Stride during the 1st quarter valued at approximately $60,385,000. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Stride in the 2nd quarter valued at $43,387,000. Finally, Congress Asset Management Co. purchased a new stake in shares of Stride in the 3rd quarter valued at $45,616,000. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Insider Activity at Stride

In related news, Director Todd Goldthwaite sold 8,028 shares of the 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 of the company’s stock, valued at approximately $7,786,209.32. This represents a 8.62 % decrease in their position. The transaction 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.

Analyst Ratings Changes

A number of research analysts recently issued reports on LRN shares. Barrington Research boosted their target price on shares of Stride from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Canaccord Genuity Group assumed coverage on Stride in a report on Thursday, August 8th. They issued a “buy” rating and a $94.00 price objective for the company. BMO Capital Markets raised their target price on Stride from $84.00 to $88.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. StockNews.com downgraded Stride from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, Canaccord Genuity Group upped their price objective on Stride from $94.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Three 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, Stride currently has a consensus rating of “Moderate Buy” and an average price target of $90.17.

Stride Stock Performance

Shares of LRN stock opened at $100.29 on Friday. The company has a market capitalization of $4.37 billion, a P/E ratio of 18.23, a P/E/G ratio of 0.75 and a beta of 0.27. Stride, Inc. has a 12-month low of $54.81 and a 12-month high of $103.98. The business’s 50 day moving average is $84.43 and its two-hundred day moving average is $76.81. 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 (NYSE:LRN) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.11 EPS. Analysts expect that Stride, Inc. will post 6.66 EPS for the current fiscal 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.