Stride, Inc. (NYSE:LRN) Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP raised its holdings in shares of Stride, Inc. (NYSE:LRN) by 416.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 275,483 shares of the company’s stock after purchasing an additional 222,165 shares during the quarter. Wellington Management Group LLP owned 0.63% of Stride worth $23,501,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Crossmark Global Holdings Inc. grew its stake in Stride by 3.9% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,213 shares of the company’s stock valued at $274,000 after purchasing an additional 121 shares in the last quarter. SummerHaven Investment Management LLC grew its position in shares of Stride by 1.1% in the 2nd 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 in the last quarter. Arizona State Retirement System grew its position in shares of 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 acquiring an additional 220 shares in the last quarter. Isthmus Partners LLC grew its position in shares of Stride by 4.8% in the 2nd quarter. Isthmus Partners LLC now owns 4,814 shares of the company’s stock worth $339,000 after acquiring an additional 222 shares in the last quarter. Finally, Amalgamated Bank grew its position in shares of Stride by 1.9% in the 3rd quarter. Amalgamated Bank now owns 12,528 shares of the company’s stock worth $1,069,000 after acquiring an additional 235 shares in the last quarter. Institutional investors and hedge funds own 98.24% of the company’s stock.

Insider Buying and Selling at Stride

In other news, Director Todd Goldthwaite sold 8,028 shares of the business’s stock in a transaction 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.00% of the stock is owned by company insiders.

Stride Stock Down 1.1 %

Shares of Stride stock opened at $106.25 on Friday. The business’s fifty day moving average price is $94.03 and its two-hundred day moving average price is $81.84. 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 company has a market capitalization of $4.63 billion, a P/E ratio of 19.32, a PEG ratio of 0.80 and a beta of 0.30. Stride, Inc. has a 1-year low of $54.81 and a 1-year high of $112.80.

Stride (NYSE:LRN) last announced its earnings results on Tuesday, October 22nd. The company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.72. The firm had revenue of $551.08 million for the quarter, compared to the consensus estimate of $504.29 million. Stride had a return on equity of 21.23% and a net margin of 11.38%. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.11 EPS. As a group, research analysts forecast that Stride, Inc. will post 6.66 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on LRN shares. Canaccord Genuity Group lifted their target price on Stride from $94.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Barrington Research lifted their target price on Stride from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Citigroup lifted their target price on Stride from $90.00 to $94.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. BMO Capital Markets boosted their price objective on Stride from $84.00 to $88.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, StockNews.com lowered Stride from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $97.50.

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.