Allianz Asset Management GmbH Buys 1,698 Shares of Stride, Inc. $LRN

Allianz Asset Management GmbH boosted its stake in Stride, Inc. (NYSE:LRN) by 79.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,843 shares of the company’s stock after purchasing an additional 1,698 shares during the quarter. Allianz Asset Management GmbH’s holdings in Stride were worth $558,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. New York State Teachers Retirement System boosted its stake in Stride by 10.1% in the 2nd quarter. New York State Teachers Retirement System now owns 26,062 shares of the company’s stock worth $3,784,000 after purchasing an additional 2,389 shares during the period. Kiker Wealth Management LLC bought a new stake in shares of Stride during the 2nd quarter valued at about $1,306,000. Atria Wealth Solutions Inc. bought a new stake in shares of Stride during the 2nd quarter valued at about $294,000. Yousif Capital Management LLC boosted its position in shares of Stride by 1.8% during the 2nd quarter. Yousif Capital Management LLC now owns 16,167 shares of the company’s stock valued at $2,347,000 after acquiring an additional 282 shares during the last quarter. Finally, MGO One Seven LLC bought a new stake in shares of Stride during the 2nd quarter valued at about $570,000. Institutional investors own 98.24% of the company’s stock.

Stride Stock Performance

Shares of NYSE LRN opened at $152.68 on Tuesday. The stock has a market cap of $6.66 billion, a price-to-earnings ratio of 25.36, 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. Stride, Inc. has a 1-year low of $89.11 and a 1-year high of $171.17. The stock’s 50-day moving average is $152.32 and its 200 day moving average is $146.59.

Stride (NYSE:LRN) last announced 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 for the quarter, compared to analysts’ expectations of $626.23 million. Stride had a return on equity of 25.51% and a net margin of 11.97%.Stride’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same period last year, the firm posted $1.42 EPS. On average, sell-side analysts anticipate that Stride, Inc. will post 6.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

LRN has been the subject of a number of research analyst reports. Wall Street Zen downgraded Stride from a “buy” rating to a “hold” rating in a research report on Saturday, October 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Stride in a research report on Wednesday, October 8th. Canaccord Genuity Group lifted their price target on Stride from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Friday. Barrington Research reiterated an “outperform” rating and set a $185.00 price target on shares of Stride in a research report on Tuesday, September 23rd. Finally, Morgan Stanley lifted their price target on Stride from $148.00 to $159.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 6th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Stride currently has a consensus rating of “Moderate Buy” and an average target price of $150.40.

Insider Buying and Selling

In other Stride news, CEO James Jeaho Rhyu sold 13,961 shares of Stride 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 transaction, the chief executive officer directly owned 706,353 shares of the company’s stock, valued at $114,895,378.98. The trade was a 1.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.00% of the stock is owned by company 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.