Martingale Asset Management L P Reduces Holdings in Stride, Inc. (NYSE:LRN)

Martingale Asset Management L P trimmed its position in shares of Stride, Inc. (NYSE:LRN) by 6.2% in the 3rd quarter, Holdings Channel reports. The firm owned 35,775 shares of the company’s stock after selling 2,361 shares during the period. Martingale Asset Management L P’s holdings in Stride were worth $3,052,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Blue Trust Inc. increased its position in shares of Stride by 795.5% during the second 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. Sanctuary Advisors LLC purchased a new stake in Stride in the 2nd quarter valued at $534,000. International Assets Investment Management LLC grew its holdings in Stride by 8,431.7% in the 3rd quarter. International Assets Investment Management LLC now owns 5,119 shares of the company’s stock valued at $437,000 after buying an additional 5,059 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Stride by 24.6% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 36,000 shares of the company’s stock valued at $3,071,000 after buying an additional 7,100 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Stride in the 1st quarter valued at $5,402,000. 98.24% of the stock is currently owned by hedge funds and other institutional investors.

Stride Stock Performance

Shares of Stride stock opened at $106.87 on Friday. The business’s fifty day simple moving average is $88.69 and its 200-day simple moving average is $78.97. Stride, Inc. has a 52 week low of $54.81 and a 52 week high of $108.48. The company has a quick ratio of 5.50, a current ratio of 5.60 and a debt-to-equity ratio of 0.38. The firm has a market cap of $4.66 billion, a PE ratio of 19.43, a price-to-earnings-growth 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, topping the consensus estimate of $0.22 by $0.72. Stride had a return on equity of 21.23% and a net margin of 11.38%. The firm had revenue of $551.08 million for the quarter, compared to analyst estimates of $504.29 million. During the same quarter in the prior year, the company earned $0.11 EPS. Stride’s revenue was up 14.8% on a year-over-year basis. Equities analysts forecast that Stride, Inc. will post 6.66 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on LRN shares. Canaccord Genuity Group started coverage on Stride in a report on Thursday, August 8th. They issued a “buy” rating and a $94.00 target price for the company. BMO Capital Markets upped their target price on Stride from $84.00 to $88.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Barrington Research upped their target price on Stride from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. StockNews.com cut Stride from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, Canaccord Genuity Group upped their price target on Stride from $94.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Stride presently has an average rating of “Moderate Buy” and an average target price of $90.17.

Insider Buying and Selling

In related news, Director Todd Goldthwaite sold 8,028 shares of the 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 transaction, the director now owns 85,058 shares of the company’s stock, valued at approximately $7,786,209.32. This represents a 8.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.00% of the stock is owned by corporate insiders.

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.