Sequoia Financial Advisors LLC Trims Stake in Stride, Inc. $LRN

Sequoia Financial Advisors LLC lowered its stake in Stride, Inc. (NYSE:LRN) by 3.9% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,157 shares of the company’s stock after selling 87 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Stride were worth $313,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LRN. Larson Financial Group LLC lifted its stake in Stride by 333.3% in the 1st quarter. Larson Financial Group LLC now owns 208 shares of the company’s stock valued at $26,000 after buying an additional 160 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in Stride by 140.5% in the 1st quarter. First Horizon Advisors Inc. now owns 267 shares of the company’s stock valued at $34,000 after buying an additional 156 shares in the last quarter. Harbour Investments Inc. lifted its stake in Stride by 374.6% in the 1st quarter. Harbour Investments Inc. now owns 337 shares of the company’s stock valued at $43,000 after buying an additional 266 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Stride in the 1st quarter valued at approximately $43,000. Finally, Geneos Wealth Management Inc. lifted its stake in shares of Stride by 62.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the company’s stock worth $43,000 after purchasing an additional 131 shares during the period. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Stride Stock Down 0.0%

Shares of NYSE LRN opened at $152.31 on Thursday. Stride, Inc. has a 12-month low of $82.86 and a 12-month high of $171.17. The company has a market cap of $6.65 billion, a P/E ratio of 25.30, a P/E/G ratio of 0.86 and a beta of 0.07. The company has a current ratio of 5.39, a quick ratio of 5.27 and a debt-to-equity ratio of 0.31. The stock has a fifty day moving average price of $152.79 and a 200 day moving average price of $145.85.

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

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Stride in a research note on Wednesday, October 8th. Wall Street Zen lowered Stride from a “buy” rating to a “hold” rating in a research note on Saturday, October 4th. Morgan Stanley increased their price target on Stride from $148.00 to $159.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th. Finally, Barrington Research reissued an “outperform” rating and set a $185.00 price target on shares of Stride in a research note on Tuesday, September 23rd. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $146.40.

Insiders Place Their Bets

In other Stride news, CEO James Jeaho Rhyu sold 13,961 shares of the company’s stock in a transaction dated Tuesday, August 19th. The shares were 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 of the company’s stock, valued at $114,895,378.98. This represents a 1.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.00% of the stock is currently owned by insiders.

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.