Nordea Investment Management AB Buys 4,828 Shares of Stride, Inc. (NYSE:LRN)

Nordea Investment Management AB boosted its position in shares of Stride, Inc. (NYSE:LRN) by 4.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 115,774 shares of the company’s stock after acquiring an additional 4,828 shares during the period. Nordea Investment Management AB’s holdings in Stride were worth $12,177,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Mendota Financial Group LLC purchased a new stake in shares of Stride in the third quarter worth $86,000. TD Private Client Wealth LLC boosted its holdings in Stride by 27.7% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,962 shares of the company’s stock worth $167,000 after buying an additional 426 shares during the period. GAMMA Investing LLC increased its stake in Stride by 45.3% in the 3rd quarter. GAMMA Investing LLC now owns 2,061 shares of the company’s stock worth $176,000 after buying an additional 643 shares in the last quarter. Central Pacific Bank Trust Division raised its holdings in Stride by 24.2% during the third quarter. Central Pacific Bank Trust Division now owns 2,153 shares of the company’s stock valued at $184,000 after acquiring an additional 420 shares during the period. Finally, Retirement Guys Formula LLC bought a new stake in Stride during the third quarter valued at about $203,000. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Insiders Place Their Bets

In other news, Director Todd Goldthwaite sold 8,028 shares of Stride 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 transaction, the director now owns 85,058 shares in the company, valued at approximately $7,786,209.32. The trade was a 8.62 % decrease in their position. 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 insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LRN. Citigroup upped their price objective on Stride from $90.00 to $94.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Morgan Stanley increased their price objective on shares of Stride from $94.00 to $109.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Barrington Research lifted their price objective 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. BMO Capital Markets upped their target price on shares of Stride from $84.00 to $88.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Canaccord Genuity Group lifted their price target on shares of Stride from $94.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $97.50.

Stride Trading Up 1.5 %

Shares of LRN opened at $108.87 on Thursday. The stock has a market capitalization of $4.75 billion, a PE ratio of 19.79, a P/E/G ratio of 0.80 and a beta of 0.32. The company’s fifty day moving average is $104.42 and its 200 day moving average is $86.61. The company has a debt-to-equity ratio of 0.38, a quick ratio of 5.50 and a current ratio of 5.60. Stride, Inc. has a fifty-two week low of $54.81 and a fifty-two week high of $112.80.

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. The firm 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 business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.11 EPS. Sell-side analysts expect that Stride, Inc. will post 6.64 earnings per share 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.