State of New Jersey Common Pension Fund D Trims Stock Position in Stride, Inc. (NYSE:LRN)

State of New Jersey Common Pension Fund D lessened its stake in shares of Stride, Inc. (NYSE:LRN) by 9.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 24,356 shares of the company’s stock after selling 2,513 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Stride were worth $2,078,000 at the end of the most recent quarter.

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

Stride Stock Performance

Shares of LRN opened at $100.29 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 firm has a market cap of $4.37 billion, a PE 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 stock has a fifty day moving average price of $84.43 and a 200-day moving average price of $76.81.

Stride (NYSE:LRN) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.72. The company had revenue of $551.08 million during the quarter, compared to analysts’ expectations of $504.29 million. Stride had a return on equity of 21.23% and a net margin of 11.38%. The firm’s revenue was up 14.8% compared to the same quarter last year. During the same period last year, the business posted $0.11 earnings per share. Equities research analysts predict that Stride, Inc. will post 6.66 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

LRN has been the subject of several recent research reports. StockNews.com lowered shares of Stride from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Canaccord Genuity Group boosted their price objective on shares of Stride from $94.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Citigroup increased their target price on Stride from $90.00 to $94.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. BMO Capital Markets boosted their price target on 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 began coverage on Stride in a research report on Thursday, August 8th. They set a “buy” rating and a $94.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $90.17.

Insider Buying and Selling

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

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.