New York State Common Retirement Fund Cuts Stake in Stride, Inc. (NYSE:LRN)

New York State Common Retirement Fund reduced its stake in Stride, Inc. (NYSE:LRN) by 2.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 192,261 shares of the company’s stock after selling 5,600 shares during the period. New York State Common Retirement Fund owned approximately 0.44% of Stride worth $16,402,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Motco purchased a new stake in shares of Stride in the first quarter worth $74,000. EntryPoint Capital LLC bought a new position in shares of Stride during the first quarter valued at $77,000. nVerses Capital LLC bought a new position in shares of Stride during the second quarter valued at $78,000. Mendota Financial Group LLC bought a new position in shares of Stride during the third quarter valued at $86,000. Finally, Advisors Asset Management Inc. lifted its holdings in shares of Stride by 38.0% during the first quarter. Advisors Asset Management Inc. now owns 2,740 shares of the company’s stock valued at $173,000 after purchasing an additional 754 shares in the last quarter. 98.24% of the stock is owned by hedge funds and other institutional investors.

Stride Stock Up 1.8 %

LRN stock opened at $94.79 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 5.50 and a current ratio of 5.60. The business’s 50-day moving average is $81.32 and its two-hundred day moving average is $74.90. The company has a market cap of $4.13 billion, a price-to-earnings ratio of 17.23, a P/E/G ratio of 0.70 and a beta of 0.27. Stride, Inc. has a fifty-two week low of $54.81 and a fifty-two week high of $96.07.

Stride (NYSE:LRN) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.72. The business 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 business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.11 earnings per share. As a group, analysts forecast that Stride, Inc. will post 6.66 earnings per share for the current year.

Insiders Place Their Bets

In other Stride news, Director Todd Goldthwaite sold 8,028 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was 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 in the company, valued at $7,786,209.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 3.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on LRN shares. Canaccord Genuity Group started coverage on Stride in a report on Thursday, August 8th. They set a “buy” rating and a $94.00 price target on the stock. Barrington Research upped their price target on Stride from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Citigroup upped their price target on Stride from $90.00 to $94.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. StockNews.com downgraded Stride from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, Canaccord Genuity Group increased their target price on Stride from $94.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.