Geode Capital Management LLC Has $82.32 Million Position in Stride, Inc. (NYSE:LRN)

Geode Capital Management LLC boosted its holdings in Stride, Inc. (NYSE:LRN) by 3.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 964,701 shares of the company’s stock after acquiring an additional 35,349 shares during the quarter. Geode Capital Management LLC’s holdings in Stride were worth $82,315,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC acquired a new position in shares of Stride in the 2nd quarter worth approximately $534,000. International Assets Investment Management LLC grew its position in Stride by 8,431.7% in the third quarter. International Assets Investment Management LLC now owns 5,119 shares of the company’s stock valued at $437,000 after acquiring an additional 5,059 shares during the period. Quest Partners LLC raised its stake in Stride by 20,248.8% during the third quarter. Quest Partners LLC now owns 8,343 shares of the company’s stock worth $712,000 after acquiring an additional 8,302 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Stride by 24.6% during 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 period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Stride by 634.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 117,913 shares of the company’s stock valued at $10,059,000 after acquiring an additional 101,869 shares during the period. Institutional investors and hedge funds own 98.24% of the company’s stock.

Insider Activity at Stride

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 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 owns 85,058 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. 3.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on LRN. Canaccord Genuity Group upped 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. StockNews.com cut Stride from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. BMO Capital Markets boosted their price objective 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 raised 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. Finally, Citigroup upped their price target on shares of Stride from $90.00 to $94.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Stride currently has a consensus rating of “Moderate Buy” and an average target price of $97.50.

Stride Stock Up 0.8 %

Shares of NYSE LRN opened at $106.08 on Friday. The company has a current ratio of 5.60, a quick ratio of 5.50 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $4.62 billion, a PE ratio of 19.29, a price-to-earnings-growth ratio of 0.80 and a beta of 0.30. The firm’s 50-day moving average is $95.87 and its 200-day moving average is $82.71. Stride, Inc. has a 1 year low of $54.81 and a 1 year high of $112.80.

Stride (NYSE:LRN) last released its 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 firm had revenue of $551.08 million during 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 business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.11 EPS. Equities analysts expect that Stride, Inc. will post 6.66 EPS for the current year.

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.