Stride, Inc. $LRN Shares Sold by Castleark Management LLC

Castleark Management LLC reduced its stake in Stride, Inc. (NYSE:LRN) by 60.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,740 shares of the company’s stock after selling 25,690 shares during the period. Castleark Management LLC’s holdings in Stride were worth $2,430,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Twin Peaks Wealth Advisors LLC acquired a new stake in Stride in the second quarter worth approximately $30,000. Penserra Capital Management LLC bought a new stake in shares of Stride in the 2nd quarter worth $27,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Stride by 78.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the company’s stock valued at $28,000 after buying an additional 85 shares during the period. Golden State Wealth Management LLC lifted its holdings in shares of Stride by 37.5% in the second quarter. Golden State Wealth Management LLC now owns 275 shares of the company’s stock valued at $40,000 after buying an additional 75 shares during the period. Finally, Cullen Frost Bankers Inc. boosted its stake in Stride by 129.6% during the second quarter. Cullen Frost Bankers Inc. now owns 326 shares of the company’s stock valued at $47,000 after buying an additional 184 shares in the last quarter. Institutional investors and hedge funds own 98.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. BMO Capital Markets set a $108.00 price target on shares of Stride and gave the stock a “market perform” rating in a research report on Wednesday, October 29th. Zacks Research downgraded shares of Stride from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. Barrington Research cut their target price on shares of Stride from $185.00 to $125.00 and set an “outperform” rating for the company in a research note on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Stride in a report on Monday, December 8th. Finally, Canaccord Genuity Group raised their price objective on Stride from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, October 24th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $141.75.

Stride Price Performance

Shares of NYSE:LRN opened at $64.47 on Monday. The company’s fifty day moving average is $93.08 and its two-hundred day moving average is $127.49. The company has a market cap of $2.83 billion, a P/E ratio of 9.95, a price-to-earnings-growth ratio of 0.39 and a beta of 0.03. Stride, Inc. has a 12-month low of $60.61 and a 12-month high of $171.17. The company has a quick ratio of 6.69, a current ratio of 6.78 and a debt-to-equity ratio of 0.32.

Stride (NYSE:LRN) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.29. Stride had a return on equity of 26.29% and a net margin of 12.76%.The firm had revenue of $620.88 million during the quarter, compared to analyst estimates of $615.50 million. During the same period last year, the company posted $0.94 EPS. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. Equities analysts expect that Stride, Inc. will post 6.67 earnings per share 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.