Candriam S.C.A. Sells 92,548 Shares of Stride, Inc. $LRN

Candriam S.C.A. trimmed its holdings in shares of Stride, Inc. (NYSE:LRN) by 55.7% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 73,598 shares of the company’s stock after selling 92,548 shares during the quarter. Candriam S.C.A. owned 0.17% of Stride worth $10,962,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Asset Management One Co. Ltd. boosted its stake in Stride by 33.8% in the 2nd quarter. Asset Management One Co. Ltd. now owns 43,033 shares of the company’s stock worth $6,248,000 after purchasing an additional 10,870 shares during the period. SG Capital Management LLC bought a new stake in shares of Stride in the second quarter valued at about $5,859,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Stride during the third quarter worth about $3,391,000. Invesco Ltd. grew its holdings in shares of Stride by 10.3% during the second quarter. Invesco Ltd. now owns 1,782,020 shares of the company’s stock worth $258,731,000 after buying an additional 165,775 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Stride during the second quarter worth about $92,858,000. 98.24% of the stock is currently owned by institutional investors and hedge funds.

Stride Stock Up 0.6%

NYSE:LRN opened at $88.06 on Wednesday. Stride, Inc. has a twelve month low of $60.61 and a twelve month high of $171.17. The firm has a market capitalization of $3.75 billion, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 0.52 and a beta of 0.10. The company has a quick ratio of 7.19, a current ratio of 7.27 and a debt-to-equity ratio of 0.31. The stock’s 50 day moving average price is $70.69 and its two-hundred day moving average price is $107.40.

Wall Street Analyst Weigh In

LRN has been the topic of several research reports. Weiss Ratings restated a “hold (c+)” rating on shares of Stride in a research note on Monday, December 29th. Wall Street Zen lowered shares of Stride from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $125.00 target price on shares of Stride in a research report on Wednesday, January 28th. Barrington Research reiterated an “outperform” rating and issued a $125.00 price target on shares of Stride in a research note on Wednesday, January 28th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $94.00 price target on shares of Stride in a research report on Wednesday, January 28th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $109.75.

Stride Profile

Stride, Inc (NYSE:LRN) is a technology-driven education company that designs and delivers online learning solutions for students and adult learners. Through long-term partnerships with state-authorized public school districts, Stride operates virtual academies that serve K-12 students across the United States. The company’s blended-learning model combines digital curriculum, live teaching support and data analytics to personalize instruction and monitor student progress.

In addition to its K-12 offerings, Stride provides a portfolio of career and workforce readiness programs under its Stride Career Prep division.