Royce & Associates LP Sells 1,011 Shares of Stride, Inc. (NYSE:LRN)

Royce & Associates LP lessened its holdings in shares of Stride, Inc. (NYSE:LRN) by 3.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,768 shares of the company’s stock after selling 1,011 shares during the quarter. Royce & Associates LP owned about 0.07% of Stride worth $2,454,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of LRN. William Blair Investment Management LLC boosted its holdings in Stride by 20.1% in the 2nd quarter. William Blair Investment Management LLC now owns 2,122,102 shares of the company’s stock worth $149,608,000 after buying an additional 355,614 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Stride by 2.7% in the first quarter. Janus Henderson Group PLC now owns 1,154,995 shares of the company’s stock worth $72,821,000 after acquiring an additional 30,854 shares during the period. Swedbank AB purchased a new position in shares of Stride in the first quarter valued at $60,385,000. Victory Capital Management Inc. raised its stake in shares of Stride by 72.4% during the 3rd quarter. Victory Capital Management Inc. now owns 827,505 shares of the company’s stock valued at $70,594,000 after purchasing an additional 347,564 shares during the period. Finally, Vaughan Nelson Investment Management L.P. purchased a new stake in Stride during the 2nd quarter worth about $43,387,000. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Stride Price Performance

LRN opened at $101.63 on Wednesday. The stock has a market capitalization of $4.43 billion, a P/E ratio of 18.48, a PEG ratio of 0.75 and a beta of 0.27. 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, Inc. has a 12-month low of $54.81 and a 12-month high of $103.98. The stock has a 50-day moving average price of $85.37 and a 200-day moving average price of $77.41.

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

Insiders Place Their Bets

In other Stride 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 transaction, the director now directly owns 85,058 shares of the company’s stock, valued at $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 is available at the SEC website. 3.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on LRN shares. StockNews.com lowered Stride from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Canaccord Genuity Group initiated coverage on shares of Stride in a report on Thursday, August 8th. They set a “buy” rating and a $94.00 target price on the stock. BMO Capital Markets increased their target price on shares of Stride from $84.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Canaccord Genuity Group upped their price target on shares of Stride from $94.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Citigroup lifted their price objective on Stride from $90.00 to $94.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $90.17.

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.