Versor Investments LP Decreases Stock Holdings in Stride, Inc. (NYSE:LRN)

Versor Investments LP reduced its stake in shares of Stride, Inc. (NYSE:LRN) by 30.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,933 shares of the company’s stock after selling 1,700 shares during the period. Versor Investments LP’s holdings in Stride were worth $336,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in LRN. UniSuper Management Pty Ltd acquired a new stake in Stride during the first quarter worth about $555,000. Blue Trust Inc. increased its holdings in shares of Stride by 795.5% during the 2nd quarter. Blue Trust Inc. now owns 11,543 shares of the company’s stock worth $814,000 after buying an additional 10,254 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Stride during the 2nd quarter worth approximately $534,000. International Assets Investment Management LLC raised its position in shares of Stride by 8,431.7% during the 3rd quarter. International Assets Investment Management LLC now owns 5,119 shares of the company’s stock valued at $437,000 after buying an additional 5,059 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Stride by 24.6% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 36,000 shares of the company’s stock valued at $3,071,000 after acquiring an additional 7,100 shares during the last quarter. 98.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Todd Goldthwaite sold 8,028 shares of the company’s stock in a transaction that occurred 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 directly owns 85,058 shares in the company, valued at approximately $7,786,209.32. This represents a 8.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.00% of the company’s stock.

Stride Stock Up 0.7 %

Shares of LRN opened at $100.29 on Friday. The company’s 50-day simple moving average is $84.43 and its 200-day simple moving average is $76.81. 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, Inc. has a 1 year low of $54.81 and a 1 year high of $103.98. The stock has a market capitalization of $4.37 billion, a PE ratio of 18.23, a P/E/G ratio of 0.75 and a beta of 0.27.

Stride (NYSE:LRN) last released its earnings results 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 company had revenue of $551.08 million for the quarter, compared to analyst estimates of $504.29 million. Stride had a net margin of 11.38% and a return on equity of 21.23%. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.11 EPS. Analysts forecast that Stride, Inc. will post 6.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. BMO Capital Markets raised 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. Barrington Research upped their target price 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 lowered shares of Stride from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Citigroup boosted their price target on shares of Stride from $90.00 to $94.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Finally, Canaccord Genuity Group increased their price objective on shares of Stride from $94.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $90.17.

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.