Sycomore Asset Management Sells 65,225 Shares of Stride, Inc. (NYSE:LRN)

Sycomore Asset Management trimmed its holdings in Stride, Inc. (NYSE:LRN) by 45.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 79,256 shares of the company’s stock after selling 65,225 shares during the quarter. Sycomore Asset Management owned approximately 0.18% of Stride worth $4,737,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Stride by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 4,969,506 shares of the company’s stock worth $223,777,000 after acquiring an additional 28,661 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of Stride by 0.5% during the 3rd quarter. Deutsche Bank AG now owns 570,751 shares of the company’s stock worth $25,701,000 after acquiring an additional 2,582 shares in the last quarter. SG Capital Management LLC raised its holdings in shares of Stride by 348.7% during the 3rd quarter. SG Capital Management LLC now owns 563,218 shares of the company’s stock worth $25,362,000 after acquiring an additional 437,685 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Stride by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 531,030 shares of the company’s stock worth $23,912,000 after acquiring an additional 8,754 shares in the last quarter. Finally, Cooper Creek Partners Management LLC raised its holdings in shares of Stride by 89.1% during the 3rd quarter. Cooper Creek Partners Management LLC now owns 472,934 shares of the company’s stock worth $21,296,000 after acquiring an additional 222,866 shares in the last quarter. 98.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LRN. Wedbush restated an “outperform” rating on shares of Stride in a report on Wednesday, January 24th. Morgan Stanley increased their target price on Stride from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. StockNews.com upgraded Stride from a “hold” rating to a “buy” rating in a research note on Tuesday, April 2nd. BMO Capital Markets increased their price target on Stride from $71.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Finally, Citigroup increased their price target on Stride from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Stride presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.75.

Stride Stock Up 8.6 %

LRN stock traded up $5.00 during trading on Wednesday, reaching $63.20. 2,176,894 shares of the company traded hands, compared to its average volume of 776,449. Stride, Inc. has a 12 month low of $35.61 and a 12 month high of $69.70. The business has a 50 day simple moving average of $60.26 and a 200 day simple moving average of $58.25. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 15.96, a price-to-earnings-growth ratio of 0.67 and a beta of 0.26. The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.44 and a current ratio of 4.52.

Stride (NYSE:LRN) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.13. Stride had a return on equity of 17.77% and a net margin of 8.80%. The company had revenue of $520.84 million for the quarter, compared to the consensus estimate of $507.89 million. During the same quarter last year, the company earned $1.30 earnings per share. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, equities research analysts anticipate that Stride, Inc. will post 4.31 earnings per share for the current fiscal year.

Stride Company Profile

Stride, Inc, a technology-based education service company, provides proprietary and third-party online curriculum, software systems, and educational services to facilitate individualized learning for students primarily in kindergarten through 12th grade (K-12) in the United States and internationally.