Belpointe Asset Management LLC Acquires 604 Shares of Stride, Inc. $LRN

Belpointe Asset Management LLC raised its holdings in shares of Stride, Inc. (NYSE:LRN) by 17.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,160 shares of the company’s stock after purchasing an additional 604 shares during the quarter. Belpointe Asset Management LLC’s holdings in Stride were worth $604,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Rezny Wealth Management Inc. raised its stake in Stride by 0.6% in the 2nd quarter. Rezny Wealth Management Inc. now owns 14,152 shares of the company’s stock valued at $2,055,000 after acquiring an additional 83 shares during the period. Vident Advisory LLC increased its position in shares of Stride by 2.9% during the first quarter. Vident Advisory LLC now owns 2,941 shares of the company’s stock valued at $372,000 after buying an additional 84 shares during the period. Vestcor Inc increased its position in shares of Stride by 4.6% during the first quarter. Vestcor Inc now owns 2,328 shares of the company’s stock valued at $294,000 after buying an additional 102 shares during the period. Geneos Wealth Management Inc. increased its position in shares of Stride by 62.7% during the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the company’s stock valued at $43,000 after buying an additional 131 shares during the period. Finally, First Horizon Advisors Inc. increased its position in shares of Stride by 140.5% during the first quarter. First Horizon Advisors Inc. now owns 267 shares of the company’s stock valued at $34,000 after buying an additional 156 shares during the period. Institutional investors own 98.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on LRN shares. Barrington Research reiterated an “outperform” rating and set a $185.00 price target on shares of Stride in a research report on Tuesday, September 23rd. Morgan Stanley upped their price target on Stride from $148.00 to $159.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 6th. Wall Street Zen cut Stride from a “buy” rating to a “hold” rating in a research report on Saturday, October 4th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Stride in a research report on Wednesday. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Stride has an average rating of “Moderate Buy” and an average target price of $146.40.

Stride Stock Up 0.0%

Shares of NYSE LRN opened at $144.85 on Friday. Stride, Inc. has a 12 month low of $63.25 and a 12 month high of $171.17. The company has a current ratio of 5.39, a quick ratio of 5.27 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $6.32 billion, a price-to-earnings ratio of 24.06, a PEG ratio of 0.82 and a beta of 0.07. The business has a 50-day moving average of $152.35 and a 200-day moving average of $144.70.

Stride (NYSE:LRN) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $2.29 EPS for the quarter, topping the consensus estimate of $1.83 by $0.46. Stride had a return on equity of 25.51% and a net margin of 11.97%.The company had revenue of $653.65 million during the quarter, compared to analyst estimates of $626.23 million. During the same quarter in the previous year, the firm earned $1.42 earnings per share. Stride’s revenue was up 22.4% on a year-over-year basis. Sell-side analysts expect that Stride, Inc. will post 6.67 earnings per share for the current fiscal year.

Insider Transactions at Stride

In other Stride news, CEO James Jeaho Rhyu sold 13,961 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $162.66, for a total value of $2,270,896.26. Following the completion of the sale, the chief executive officer owned 706,353 shares of the company’s stock, valued at $114,895,378.98. This represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.00% of the stock is currently owned by corporate insiders.

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.