Choreo LLC Decreases Stock Position in Stride, Inc. (NYSE:LRN)

Choreo LLC reduced its position in Stride, Inc. (NYSE:LRN) by 69.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,677 shares of the company’s stock after selling 3,903 shares during the quarter. Choreo LLC’s holdings in Stride were worth $212,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of LRN. Commonwealth Equity Services LLC increased its position in Stride by 9.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 4,842 shares of the company’s stock worth $503,000 after buying an additional 417 shares during the last quarter. Vanguard Group Inc. increased its position in Stride by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 4,673,393 shares of the company’s stock worth $485,706,000 after buying an additional 69,888 shares during the last quarter. Norges Bank purchased a new stake in Stride in the fourth quarter worth $45,306,000. New Age Alpha Advisors LLC bought a new position in shares of Stride in the fourth quarter worth $252,000. Finally, Nomura Asset Management Co. Ltd. bought a new position in shares of Stride in the fourth quarter worth $158,000. 98.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LRN has been the subject of a number of analyst reports. Canaccord Genuity Group raised their price target on Stride from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Monday, April 28th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Stride in a report on Thursday, May 1st. William Blair reaffirmed an “outperform” rating on shares of Stride in a report on Wednesday, April 30th. Barrington Research reaffirmed an “outperform” rating and issued a $170.00 price target on shares of Stride in a report on Thursday, July 24th. Finally, Wall Street Zen raised Stride from a “hold” rating to a “buy” rating in a report on Saturday, June 21st. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $126.83.

Stride Price Performance

NYSE:LRN opened at $129.03 on Thursday. The firm has a market capitalization of $5.62 billion, a price-to-earnings ratio of 20.13, a P/E/G ratio of 0.83 and a beta of 0.32. Stride, Inc. has a 52-week low of $63.25 and a 52-week high of $162.30. The stock has a fifty day moving average of $141.34 and a 200 day moving average of $136.54. The company has a debt-to-equity ratio of 0.33, a quick ratio of 5.53 and a current ratio of 5.61.

Stride (NYSE:LRN) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $2.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.09 by ($0.07). The business had revenue of $613.38 million for the quarter, compared to the consensus estimate of $591.15 million. Stride had a net margin of 13.10% and a return on equity of 23.36%. Stride’s quarterly revenue was up 17.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.60 EPS. On average, research analysts expect that Stride, Inc. will post 6.67 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.