Stride, Inc. (NYSE:LRN) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its position in Stride, Inc. (NYSE:LRN) by 2.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 220,347 shares of the company’s stock after selling 5,505 shares during the period. Principal Financial Group Inc. owned about 0.51% of Stride worth $18,798,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. SummerHaven Investment Management LLC boosted its holdings in Stride by 1.1% in the second quarter. SummerHaven Investment Management LLC now owns 20,454 shares of the company’s stock valued at $1,442,000 after acquiring an additional 217 shares during the last quarter. Arizona State Retirement System increased its position in shares of Stride by 1.9% in the second 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 raised its stake in shares of Stride by 4.8% in the 2nd quarter. Isthmus Partners LLC now owns 4,814 shares of the company’s stock valued at $339,000 after acquiring an additional 222 shares during the period. Amalgamated Bank boosted its position in shares of Stride by 1.9% in the third quarter. Amalgamated Bank now owns 12,528 shares of the company’s stock worth $1,069,000 after buying an additional 235 shares during the period. Finally, Sei Investments Co. lifted its position in Stride by 0.6% during the 2nd quarter. Sei Investments Co. now owns 40,210 shares of the company’s stock worth $2,834,000 after acquiring an additional 242 shares in the last quarter. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Stride Price Performance

LRN stock opened at $99.65 on Friday. The firm has a 50-day moving average of $84.01 and a two-hundred day moving average of $76.59. The firm has a market capitalization of $4.34 billion, a PE ratio of 18.12, a P/E/G ratio of 0.77 and a beta of 0.27. The company has a current ratio of 5.60, a quick ratio of 5.50 and a debt-to-equity ratio of 0.38. Stride, Inc. has a one year low of $54.81 and a one year high of $103.98.

Stride (NYSE:LRN) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $0.94 EPS for the quarter, topping the consensus estimate 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 net margin of 11.38% and a return on equity of 21.23%. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period last year, the company posted $0.11 earnings per share. On average, analysts forecast that Stride, Inc. will post 6.66 earnings per share for the current year.

Insider Activity at Stride

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. BMO Capital Markets lifted their price target on shares of Stride from $84.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Citigroup raised their price objective on Stride from $90.00 to $94.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Barrington Research lifted their target price on Stride from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Canaccord Genuity Group started coverage on Stride in a research note on Thursday, August 8th. They set a “buy” rating and a $94.00 price objective for the company. Finally, StockNews.com cut Stride from a “buy” rating to a “hold” rating in a research note 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, Stride currently has an average rating of “Moderate Buy” and an average 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.