Truist Financial Corp Trims Stock Position in Stride, Inc. $LRN

Truist Financial Corp lowered its holdings in shares of Stride, Inc. (NYSE:LRN) by 32.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,307 shares of the company’s stock after selling 1,123 shares during the quarter. Truist Financial Corp’s holdings in Stride were worth $335,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Inspire Investing LLC purchased a new stake in shares of Stride during the 1st quarter valued at about $792,000. DAVENPORT & Co LLC purchased a new stake in shares of Stride during the 1st quarter valued at about $461,000. Swedbank AB increased its position in shares of Stride by 5.4% during the 1st quarter. Swedbank AB now owns 1,009,726 shares of the company’s stock valued at $127,730,000 after purchasing an additional 52,000 shares during the last quarter. United Services Automobile Association purchased a new stake in shares of Stride during the 1st quarter valued at about $326,000. Finally, Canandaigua National Bank & Trust Co. purchased a new stake in shares of Stride during the 1st quarter valued at about $273,000. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Insiders Place Their Bets

In other Stride news, CEO James Jeaho Rhyu sold 13,961 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $162.66, for a total value of $2,270,896.26. Following the completion of the transaction, the chief executive officer directly owned 706,353 shares in the company, valued at $114,895,378.98. This represents a 1.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 3.00% of the stock is owned by insiders.

Stride Trading Down 3.7%

LRN stock opened at $140.82 on Friday. Stride, Inc. has a 1-year low of $63.25 and a 1-year high of $171.17. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.39 and a quick ratio of 5.27. The company has a market capitalization of $6.14 billion, a price-to-earnings ratio of 23.39, a PEG ratio of 0.83 and a beta of 0.07. The business has a 50 day simple moving average of $153.20 and a two-hundred day simple moving average of $145.30.

Stride (NYSE:LRN) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.46. Stride had a return on equity of 25.51% and a net margin of 11.97%.The business had revenue of $653.65 million during the quarter, compared to the consensus estimate of $626.23 million. During the same period in the prior year, the company posted $1.42 EPS. The firm’s revenue for the quarter was up 22.4% compared to the same quarter last year. Research analysts anticipate that Stride, Inc. will post 6.67 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Morgan Stanley increased their target price on shares of Stride from $148.00 to $159.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Stride in a report on Wednesday, October 8th. Barrington Research reissued an “outperform” rating and issued a $185.00 target price on shares of Stride in a report on Tuesday, September 23rd. Finally, Wall Street Zen lowered shares of Stride from a “buy” rating to a “hold” rating in a report on Saturday, October 4th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $146.40.

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.