Hsbc Holdings PLC Sells 5,069 Shares of Stride, Inc. (NYSE:LRN)

Hsbc Holdings PLC cut its stake in shares of Stride, Inc. (NYSE:LRN) by 42.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,778 shares of the company’s stock after selling 5,069 shares during the quarter. Hsbc Holdings PLC’s holdings in Stride were worth $483,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. William Blair Investment Management LLC boosted its position in shares of Stride by 20.1% in the second quarter. William Blair Investment Management LLC now owns 2,122,102 shares of the company’s stock worth $149,608,000 after purchasing an additional 355,614 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Stride by 2.7% during the 1st quarter. Janus Henderson Group PLC now owns 1,154,995 shares of the company’s stock valued at $72,821,000 after buying an additional 30,854 shares in the last quarter. Swedbank AB bought a new position in Stride in the 1st quarter worth $60,385,000. Vaughan Nelson Investment Management L.P. purchased a new stake in Stride in the 2nd quarter worth $43,387,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in Stride by 641.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 508,444 shares of the company’s stock valued at $32,058,000 after acquiring an additional 439,911 shares during the period. 98.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LRN. Canaccord Genuity Group began coverage on Stride in a research report on Thursday, August 8th. They set a “buy” rating and a $94.00 target price for the company. BMO Capital Markets increased their price objective on shares of Stride from $79.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Barrington Research reissued an “outperform” rating and issued a $90.00 target price on shares of Stride in a report on Friday, September 20th. StockNews.com upgraded shares of Stride from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Finally, Canaccord Genuity Group began coverage on shares of Stride in a report on Thursday, August 8th. They issued a “buy” rating and a $94.00 price target on the stock. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $85.83.

Stride Price Performance

Stride stock opened at $85.33 on Tuesday. Stride, Inc. has a 52-week low of $43.77 and a 52-week high of $86.60. The company has a quick ratio of 4.95, a current ratio of 5.10 and a debt-to-equity ratio of 0.38. The firm’s fifty day moving average is $79.86 and its 200 day moving average is $71.35. The company has a market cap of $3.69 billion, a price-to-earnings ratio of 20.03, a PEG ratio of 0.84 and a beta of 0.26.

Stride (NYSE:LRN) last announced its earnings results on Tuesday, August 6th. The company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.15. Stride had a net margin of 10.01% and a return on equity of 19.12%. The firm had revenue of $534.18 million for the quarter, compared to analysts’ expectations of $525.89 million. During the same period in the prior year, the company earned $1.01 EPS. The business’s revenue was up 10.5% compared to the same quarter last year. Sell-side analysts forecast that Stride, Inc. will post 5.05 EPS for the current fiscal 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.