Avantax Advisory Services Inc. Has $380,000 Stake in Stride, Inc. (NYSE:LRN)

Avantax Advisory Services Inc. grew its stake in Stride, Inc. (NYSE:LRN) by 45.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,002 shares of the company’s stock after purchasing an additional 940 shares during the period. Avantax Advisory Services Inc.’s holdings in Stride were worth $380,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. DAVENPORT & Co LLC bought a new position in Stride in the 1st quarter valued at approximately $461,000. Canandaigua National Bank & Trust Co. bought a new position in shares of Stride in the 1st quarter valued at $273,000. GAMMA Investing LLC boosted its holdings in shares of Stride by 14,892.4% during the 1st quarter. GAMMA Investing LLC now owns 370,013 shares of the company’s stock valued at $46,807,000 after acquiring an additional 367,545 shares in the last quarter. Kestra Private Wealth Services LLC bought a new stake in Stride during the 1st quarter worth $771,000. Finally, Keybank National Association OH grew its position in Stride by 65.8% during the 1st quarter. Keybank National Association OH now owns 6,413 shares of the company’s stock worth $811,000 after acquiring an additional 2,544 shares during the last quarter. 98.24% of the stock is owned by institutional investors.

Stride Stock Up 15.5%

Stride stock opened at $148.11 on Thursday. The firm has a 50 day moving average price of $138.78 and a two-hundred day moving average price of $137.23. 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, Inc. has a 52-week low of $63.25 and a 52-week high of $162.30. The firm has a market cap of $6.45 billion, a price-to-earnings ratio of 24.60, a PEG ratio of 0.83 and a beta of 0.10.

Stride (NYSE:LRN) last released its earnings results on Tuesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.46. The business had revenue of $653.65 million for the quarter, compared to analyst estimates of $626.23 million. Stride had a net margin of 11.97% and a return on equity of 26.30%. Stride’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.42 earnings per share. Equities analysts predict that Stride, Inc. will post 6.67 EPS for the current year.

Analysts Set New Price Targets

Several research firms have commented on LRN. Morgan Stanley increased their target price on Stride from $148.00 to $159.00 and gave the company an “equal weight” rating in a research report on Wednesday. Wall Street Zen upgraded shares of Stride from a “hold” rating to a “buy” rating in a research report on Saturday, June 21st. William Blair restated an “outperform” rating on shares of Stride in a research report on Wednesday, April 30th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Stride in a research note on Thursday, May 1st. Finally, Barrington Research reissued an “outperform” rating and issued a $170.00 price objective on shares of Stride in a research note on Thursday, July 24th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $135.17.

About Stride

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.