CW Advisors LLC Sells 90,593 Shares of Stride, Inc. $LRN

CW Advisors LLC trimmed its stake in shares of Stride, Inc. (NYSE:LRN) by 56.1% during the second quarter, HoldingsChannel reports. The fund owned 70,865 shares of the company’s stock after selling 90,593 shares during the period. CW Advisors LLC’s holdings in Stride were worth $10,289,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Norges Bank bought a new position in Stride during the 2nd quarter worth about $92,858,000. Nuveen LLC acquired a new position in shares of Stride during the first quarter worth about $38,835,000. Franklin Resources Inc. grew its holdings in shares of Stride by 75.2% during the second quarter. Franklin Resources Inc. now owns 426,153 shares of the company’s stock worth $61,873,000 after buying an additional 182,920 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its position in Stride by 657.1% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 174,900 shares of the company’s stock valued at $25,394,000 after buying an additional 151,800 shares during the last quarter. Finally, Candriam S.C.A. lifted its stake in Stride by 214.2% in the 1st quarter. Candriam S.C.A. now owns 189,143 shares of the company’s stock valued at $23,927,000 after acquiring an additional 128,947 shares in the last quarter. 98.24% of the stock is owned by institutional investors.

Stride Stock Performance

NYSE LRN opened at $61.00 on Friday. The firm has a market capitalization of $2.68 billion, a P/E ratio of 9.41, a price-to-earnings-growth ratio of 0.36 and a beta of 0.03. The company has a current ratio of 6.78, a quick ratio of 6.69 and a debt-to-equity ratio of 0.32. The firm’s fifty day moving average price is $103.16 and its two-hundred day moving average price is $131.68. Stride, Inc. has a 1 year low of $60.61 and a 1 year high of $171.17.

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LRN. Zacks Research downgraded Stride from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. Barrington Research reduced their target price on shares of Stride from $185.00 to $125.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. Canaccord Genuity Group raised their target price on shares of Stride from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, October 24th. Wall Street Zen cut shares of Stride from a “buy” rating to a “hold” rating in a research report on Saturday, October 4th. Finally, BMO Capital Markets set a $108.00 price objective on Stride and gave the company a “market perform” rating in a report on Wednesday, October 29th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $141.75.

About Stride

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.