Stride, Inc. (NYSE:LRN) Holdings Cut by Shell Asset Management Co.

Posted by MarketBeat News on Aug 5th, 2022

Shell Asset Management Co. decreased its stake in Stride, Inc. (NYSE:LRN – Get Rating) by 12.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,100 shares of the company’s stock after selling 1,640 shares during the quarter. Shell Asset Management Co.’s holdings in Stride were worth $403,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Versor Investments LP purchased a new stake in Stride in the 1st quarter worth approximately $549,000. abrdn plc increased its stake in shares of Stride by 3.1% during the 1st quarter. abrdn plc now owns 1,620,632 shares of the company’s stock worth $57,971,000 after purchasing an additional 49,399 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Stride by 3.3% during the 1st quarter. Arizona State Retirement System now owns 11,561 shares of the company’s stock worth $420,000 after purchasing an additional 367 shares during the last quarter. Kirr Marbach & Co. LLC IN increased its stake in shares of Stride by 3.4% during the 1st quarter. Kirr Marbach & Co. LLC IN now owns 111,059 shares of the company’s stock worth $4,035,000 after purchasing an additional 3,642 shares during the last quarter. Finally, Jackson Creek Investment Advisors LLC acquired a new position in shares of Stride during the 1st quarter worth $1,389,000. Hedge funds and other institutional investors own 85.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Barrington Research raised their target price on shares of Stride from $45.00 to $50.00 in a research note on Wednesday, April 20th. StockNews.com upgraded shares of Stride from a “hold” rating to a “buy” rating in a research note on Friday, April 22nd. Finally, Morgan Stanley raised their price target on shares of Stride from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 20th.

Insiders Place Their Bets

In other news, EVP Vincent Mathis sold 53,506 shares of the firm’s stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $36.78, for a total transaction of $1,967,950.68. Following the completion of the transaction, the executive vice president now directly owns 40,562 shares of the company’s stock, valued at approximately $1,491,870.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 6.14% of the company’s stock.

Stride Stock Performance

NYSE LRN opened at $43.73 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.48 and a quick ratio of 3.39. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of 20.63, a P/E/G ratio of 0.82 and a beta of 0.36. The company’s fifty day moving average is $39.88 and its two-hundred day moving average is $36.64. Stride, Inc. has a 52-week low of $25.65 and a 52-week high of $44.93.

Stride Profile

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Stride, Inc, a technology-based education 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. Its technology-based products and services enable clients to attract, enroll, educate, track progress, and support students.