Stride, Inc. (NYSE:LRN) Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. lessened its position in shares of Stride, Inc. (NYSE:LRN) by 3.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,883 shares of the company’s stock after selling 235 shares during the quarter. Shell Asset Management Co.’s holdings in Stride were worth $434,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in LRN. McGlone Suttner Wealth Management Inc. purchased a new stake in Stride in the fourth quarter valued at $29,000. Strs Ohio acquired a new position in Stride in the fourth quarter valued at about $47,000. GAMMA Investing LLC purchased a new position in Stride during the fourth quarter worth about $65,000. Quadrant Capital Group LLC boosted its stake in Stride by 76.7% during the fourth quarter. Quadrant Capital Group LLC now owns 1,113 shares of the company’s stock worth $66,000 after buying an additional 483 shares during the period. Finally, Motco acquired a new stake in shares of Stride during the first quarter valued at about $74,000. 98.24% of the stock is currently owned by institutional investors and hedge funds.

Stride Stock Up 2.3 %

Stride stock opened at $73.36 on Friday. Stride, Inc. has a twelve month low of $37.51 and a twelve month high of $74.47. The firm has a market capitalization of $3.17 billion, a P/E ratio of 17.22, a P/E/G ratio of 0.71 and a beta of 0.28. The company has a current ratio of 4.29, a quick ratio of 4.21 and a debt-to-equity ratio of 0.40. The stock’s fifty day simple moving average is $69.30 and its 200-day simple moving average is $64.43.

Stride (NYSE:LRN) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.13. Stride had a return on equity of 18.29% and a net margin of 9.29%. The business had revenue of $520.84 million during the quarter, compared to analysts’ expectations of $507.89 million. During the same quarter last year, the business posted $1.30 EPS. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. As a group, equities analysts expect that Stride, Inc. will post 4.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LRN has been the subject of a number of research analyst reports. Barrington Research reaffirmed an “outperform” rating and set a $75.00 price objective on shares of Stride in a research report on Wednesday, April 24th. BMO Capital Markets lifted their price objective on Stride from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Finally, StockNews.com raised Stride from a “hold” rating to a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $72.00.

About Stride

Stride, Inc, a technology-based education service company, provides proprietary and third-party online curriculum, software systems, and educational services to facilitate individualized learning for students primarily in kindergarten through 12th grade (K-12) in the United States and internationally.