Sheets Smith Wealth Management Purchases Shares of 1,975 Stride, Inc. (NYSE:LRN)

Sheets Smith Wealth Management purchased a new stake in shares of Stride, Inc. (NYSE:LRN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,975 shares of the company’s stock, valued at approximately $205,000.

Other institutional investors have also modified their holdings of the company. Janus Henderson Group PLC lifted its position in shares of Stride by 1.1% during the 3rd quarter. Janus Henderson Group PLC now owns 1,170,434 shares of the company’s stock valued at $99,851,000 after acquiring an additional 13,050 shares during the last quarter. Geode Capital Management LLC lifted its stake in Stride by 3.8% during the third quarter. Geode Capital Management LLC now owns 964,701 shares of the company’s stock valued at $82,315,000 after buying an additional 35,349 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Stride by 51.1% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 929,855 shares of the company’s stock worth $79,326,000 after buying an additional 314,435 shares during the period. Victory Capital Management Inc. increased its position in shares of Stride by 72.4% in the third quarter. Victory Capital Management Inc. now owns 827,505 shares of the company’s stock worth $70,594,000 after acquiring an additional 347,564 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its holdings in shares of Stride by 0.7% during the third quarter. Rockefeller Capital Management L.P. now owns 753,728 shares of the company’s stock valued at $64,286,000 after acquiring an additional 5,278 shares during the period. Institutional investors and hedge funds own 98.24% of the company’s stock.

Stride Stock Performance

LRN stock opened at $117.43 on Thursday. The company has a market capitalization of $5.12 billion, a price-to-earnings ratio of 21.35, a P/E/G ratio of 0.86 and a beta of 0.32. The firm has a 50 day moving average of $107.32 and a two-hundred day moving average of $89.65. The company has a quick ratio of 5.50, a current ratio of 5.60 and a debt-to-equity ratio of 0.38. Stride, Inc. has a 12 month low of $54.81 and a 12 month high of $118.58.

Stride (NYSE:LRN) last posted its 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 firm had revenue of $551.08 million for the quarter, compared to the consensus estimate of $504.29 million. Stride had a net margin of 11.38% and a return on equity of 21.23%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.11 earnings per share. As a group, equities analysts anticipate that Stride, Inc. will post 6.64 EPS for the current fiscal year.

Insider Activity

In other Stride news, Director Todd Goldthwaite sold 8,028 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $91.54, for a total transaction of $734,883.12. Following the completion of the sale, the director now owns 85,058 shares of the company’s stock, valued at $7,786,209.32. This represents a 8.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Canaccord Genuity Group raised their price objective on shares of Stride from $94.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Citigroup lifted 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. Barrington Research increased their price objective on Stride from $100.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. StockNews.com lowered Stride from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Finally, Morgan Stanley upped their target price on Stride from $94.00 to $109.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $102.50.

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.