Glenmede Trust Co. NA Raises Stock Position in Stride, Inc. (NYSE:LRN)

Glenmede Trust Co. NA lifted its position in shares of Stride, Inc. (NYSE:LRN) by 3.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,990 shares of the company’s stock after acquiring an additional 910 shares during the quarter. Glenmede Trust Co. NA’s holdings in Stride were worth $2,217,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. DekaBank Deutsche Girozentrale acquired a new stake in Stride in the 1st quarter valued at about $5,402,000. Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of Stride by 4.7% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 28,900 shares of the company’s stock valued at $2,037,000 after purchasing an additional 1,300 shares during the last quarter. Artemis Investment Management LLP purchased a new position in shares of Stride during the 2nd quarter worth approximately $289,000. Blue Trust Inc. increased its stake in shares of Stride by 795.5% during the 2nd quarter. Blue Trust Inc. now owns 11,543 shares of the company’s stock worth $814,000 after purchasing an additional 10,254 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. acquired a new position in shares of Stride during the 2nd quarter worth approximately $43,387,000. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Insider Transactions at Stride

In other news, Director Todd Goldthwaite sold 8,028 shares of Stride stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $91.54, for a total transaction of $734,883.12. Following the sale, the director now directly owns 85,058 shares of the company’s stock, valued at approximately $7,786,209.32. The trade was a 8.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.00% of the company’s stock.

Stride Stock Down 0.2 %

Shares of NYSE LRN opened at $106.87 on Friday. The stock has a fifty day moving average price of $89.13 and a 200 day moving average price of $79.22. The company has a current ratio of 5.60, a quick ratio of 5.50 and a debt-to-equity ratio of 0.38. Stride, Inc. has a 12-month low of $54.81 and a 12-month high of $108.48. The company has a market cap of $4.66 billion, a P/E ratio of 19.43, a P/E/G ratio of 0.80 and a beta of 0.27.

Stride (NYSE:LRN) last posted its earnings results on Tuesday, October 22nd. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.72. The business had revenue of $551.08 million during the quarter, compared to analyst estimates of $504.29 million. Stride had a return on equity of 21.23% and a net margin of 11.38%. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.11 earnings per share. Research analysts anticipate that Stride, Inc. will post 6.66 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on LRN shares. Barrington Research increased their price objective on Stride from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Canaccord Genuity Group raised their price target on shares of Stride from $94.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. StockNews.com lowered Stride from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Citigroup raised their target price on shares of Stride from $90.00 to $94.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Finally, Canaccord Genuity Group assumed coverage on shares of Stride in a report on Thursday, August 8th. They issued a “buy” rating and a $94.00 target price for the company. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Stride currently has an average rating of “Moderate Buy” and a consensus target price of $90.17.

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.