New York State Teachers Retirement System Boosts Stock Position in Stride, Inc. $LRN

New York State Teachers Retirement System raised its holdings in shares of Stride, Inc. (NYSE:LRN) by 10.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 26,062 shares of the company’s stock after purchasing an additional 2,389 shares during the period. New York State Teachers Retirement System owned approximately 0.06% of Stride worth $3,784,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Swedbank AB boosted its stake in Stride by 5.4% during the 1st quarter. Swedbank AB now owns 1,009,726 shares of the company’s stock valued at $127,730,000 after purchasing an additional 52,000 shares during the last quarter. Deutsche Bank AG boosted its stake in Stride by 10.4% during the 1st quarter. Deutsche Bank AG now owns 617,894 shares of the company’s stock valued at $78,164,000 after purchasing an additional 58,029 shares during the last quarter. Driehaus Capital Management LLC boosted its stake in Stride by 12.3% during the 1st quarter. Driehaus Capital Management LLC now owns 613,820 shares of the company’s stock valued at $77,648,000 after purchasing an additional 67,184 shares during the last quarter. Northern Trust Corp boosted its stake in Stride by 1.3% during the 1st quarter. Northern Trust Corp now owns 467,774 shares of the company’s stock valued at $59,173,000 after purchasing an additional 5,820 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in Stride during the 1st quarter valued at $38,835,000. 98.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on LRN. Barrington Research reiterated an “outperform” rating and set a $185.00 target price on shares of Stride in a research note on Tuesday, September 23rd. Wall Street Zen downgraded Stride from a “buy” rating to a “hold” rating in a research note on Saturday, October 4th. Weiss Ratings restated a “buy (b)” rating on shares of Stride in a research note on Wednesday, October 8th. Finally, Morgan Stanley raised their price target on Stride from $148.00 to $159.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Stride has a consensus rating of “Moderate Buy” and an average target price of $146.40.

Stride Price Performance

NYSE LRN opened at $145.73 on Tuesday. The company has a market capitalization of $6.36 billion, a PE ratio of 24.21, a price-to-earnings-growth ratio of 0.82 and a beta of 0.07. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.27 and a current ratio of 5.39. The business’s fifty day moving average is $153.02 and its 200 day moving average is $145.76. Stride, Inc. has a fifty-two week low of $63.36 and a fifty-two week high of $171.17.

Stride (NYSE:LRN) last released its earnings results on Tuesday, August 5th. The company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.46. The company had revenue of $653.65 million for the quarter, compared to the consensus estimate of $626.23 million. Stride had a return on equity of 25.51% and a net margin of 11.97%.Stride’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.42 earnings per share. Sell-side analysts predict that Stride, Inc. will post 6.67 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO James Jeaho Rhyu sold 13,961 shares of Stride stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $162.66, for a total transaction of $2,270,896.26. Following the transaction, the chief executive officer directly owned 706,353 shares in the company, valued at approximately $114,895,378.98. The trade was a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.00% of the company’s stock.

Stride Company 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.