246,677 Shares in Stride, Inc. (NYSE:LRN) Acquired by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P bought a new stake in shares of Stride, Inc. (NYSE:LRN) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 246,677 shares of the company’s stock, valued at approximately $21,044,000.

Other hedge funds have also made changes to their positions in the company. Swedbank AB bought a new position in Stride in the first quarter worth approximately $60,385,000. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Stride in the 2nd quarter valued at $43,387,000. Congress Asset Management Co. bought a new position in shares of Stride in the 3rd quarter worth $45,616,000. Victory Capital Management Inc. lifted its stake in shares of Stride by 1,443.6% during the 2nd quarter. Victory Capital Management Inc. now owns 479,941 shares of the company’s stock worth $33,836,000 after purchasing an additional 448,849 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Stride by 641.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 508,444 shares of the company’s stock valued at $32,058,000 after purchasing an additional 439,911 shares in the last quarter. 98.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Barrington Research increased their price target on shares of Stride from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. StockNews.com cut shares of Stride from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Canaccord Genuity Group started coverage on shares of Stride in a research note on Thursday, August 8th. They issued a “buy” rating and a $94.00 target price for the company. Canaccord Genuity Group upped their price target on Stride from $94.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, BMO Capital Markets boosted their target price on Stride from $84.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $90.17.

Insider Buying and Selling at Stride

In related news, Director Todd Goldthwaite sold 8,028 shares of the firm’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 completion of the transaction, the director now owns 85,058 shares of the company’s stock, valued at $7,786,209.32. This trade represents a 8.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 3.00% of the company’s stock.

Stride Price Performance

NYSE LRN opened at $108.44 on Wednesday. The company has a market cap of $4.73 billion, a price-to-earnings ratio of 19.72, a PEG ratio of 0.78 and a beta of 0.27. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.60 and a quick ratio of 5.50. The stock’s fifty day moving average price is $87.21 and its 200 day moving average price is $78.32. Stride, Inc. has a 1 year low of $54.81 and a 1 year high of $108.48.

Stride (NYSE:LRN) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.72. The firm 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 company’s revenue for the quarter 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. As a group, equities research analysts forecast that Stride, Inc. will post 6.66 earnings per share for the current year.

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.