Thrivent Financial for Lutherans Acquires 251 Shares of Stride, Inc. (NYSE:LRN)

Thrivent Financial for Lutherans grew its holdings in Stride, Inc. (NYSE:LRN) by 0.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,412 shares of the company’s stock after buying an additional 251 shares during the period. Thrivent Financial for Lutherans owned 0.08% of Stride worth $2,850,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Crossmark Global Holdings Inc. boosted its position in shares of Stride by 3.9% in the third quarter. Crossmark Global Holdings Inc. now owns 3,213 shares of the company’s stock valued at $274,000 after acquiring an additional 121 shares during the period. SummerHaven Investment Management LLC increased its position in Stride by 1.1% during the second quarter. SummerHaven Investment Management LLC now owns 20,454 shares of the company’s stock worth $1,442,000 after acquiring an additional 217 shares during the period. Arizona State Retirement System raised its stake in Stride by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 11,536 shares of the company’s stock worth $813,000 after purchasing an additional 220 shares in the last quarter. Isthmus Partners LLC boosted its holdings in Stride by 4.8% in the 2nd quarter. Isthmus Partners LLC now owns 4,814 shares of the company’s stock valued at $339,000 after purchasing an additional 222 shares during the period. Finally, Amalgamated Bank grew its position in shares of Stride by 1.9% during the 3rd quarter. Amalgamated Bank now owns 12,528 shares of the company’s stock worth $1,069,000 after purchasing an additional 235 shares in the last quarter. 98.24% of the stock is currently owned by institutional investors.

Stride Price Performance

Shares of LRN stock opened at $108.44 on Wednesday. The business has a fifty day simple moving average of $87.21 and a 200 day simple moving average of $78.32. The company has a market cap of $4.73 billion, a P/E ratio of 19.72, a P/E/G ratio of 0.78 and a beta of 0.27. The company has a quick ratio of 5.50, a current ratio of 5.60 and a debt-to-equity ratio of 0.38. Stride, Inc. has a twelve month low of $54.81 and a twelve month high of $108.48.

Stride (NYSE:LRN) last issued its 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 return on equity of 21.23% and a net margin of 11.38%. The firm had revenue of $551.08 million during the quarter, compared to the consensus estimate of $504.29 million. During the same quarter in the previous year, the firm earned $0.11 earnings per share. The business’s quarterly revenue was up 14.8% on a year-over-year basis. On average, sell-side analysts forecast that Stride, Inc. will post 6.66 EPS for the current fiscal year.

Insider Activity at Stride

In other Stride news, Director Todd Goldthwaite sold 8,028 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $91.54, for a total transaction of $734,883.12. Following the sale, the director now owns 85,058 shares of the company’s stock, valued at approximately $7,786,209.32. The trade was a 8.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.00% of the stock is owned by insiders.

Analysts Set New Price Targets

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