Victory Capital Management Inc. Purchases 347,564 Shares of Stride, Inc. (NYSE:LRN)

Victory Capital Management Inc. lifted its position in shares of Stride, Inc. (NYSE:LRN) by 72.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 827,505 shares of the company’s stock after acquiring an additional 347,564 shares during the quarter. Victory Capital Management Inc. owned approximately 1.90% of Stride worth $70,594,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. GSA Capital Partners LLP bought a new position in Stride in the 3rd quarter worth approximately $513,000. Entropy Technologies LP purchased a new stake in shares of Stride during the third quarter worth $442,000. Crossmark Global Holdings Inc. boosted its holdings 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 worth $274,000 after acquiring an additional 121 shares during the period. Montanaro Asset Management Ltd grew its position in shares of Stride by 20.2% in the third quarter. Montanaro Asset Management Ltd now owns 155,000 shares of the company’s stock valued at $13,223,000 after purchasing an additional 26,000 shares in the last quarter. Finally, Atria Investments Inc bought a new stake in shares of Stride during the 3rd quarter valued at $274,000. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Stride Stock Performance

NYSE LRN opened at $99.65 on Friday. Stride, Inc. has a 52-week low of $54.81 and a 52-week high of $103.98. The company has a fifty day moving average of $84.01 and a 200-day moving average of $76.59. The company has a market capitalization of $4.34 billion, a P/E ratio of 18.12, a P/E/G ratio of 0.77 and a beta of 0.27. The company has a debt-to-equity ratio of 0.38, a quick ratio of 5.50 and a current ratio of 5.60.

Stride (NYSE:LRN) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 in the prior year, the business earned $0.11 EPS. As a group, equities research analysts predict that Stride, Inc. will post 6.66 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LRN. Canaccord Genuity Group assumed coverage on shares of Stride in a report on Thursday, August 8th. They issued a “buy” rating and a $94.00 price target on the stock. Canaccord Genuity Group raised their price target on shares of Stride from $94.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Barrington Research boosted 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 downgraded Stride from a “buy” rating to a “hold” 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 report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.17.

Insiders Place Their Bets

In other news, Director Todd Goldthwaite sold 8,028 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $91.54, for a total value of $734,883.12. Following the completion of the sale, the director now owns 85,058 shares of the company’s stock, valued at approximately $7,786,209.32. This represents a 8.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.00% of the company’s stock.

Stride 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.