Aviva PLC Has $1.71 Million Holdings in Stride, Inc. (NYSE:LRN)

Posted by Defense World Staff on Feb 26th, 2023

Aviva PLC raised its position in Stride, Inc. (NYSE:LRN – Get Rating) by 125.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,611 shares of the company’s stock after buying an additional 22,637 shares during the period. Aviva PLC owned 0.09% of Stride worth $1,707,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LRN. Millennium Management LLC boosted its position in Stride by 1,179.3% in the second quarter. Millennium Management LLC now owns 1,992,427 shares of the company’s stock valued at $81,271,000 after buying an additional 1,836,679 shares in the last quarter. Driehaus Capital Management LLC bought a new position in shares of Stride in the second quarter worth about $17,131,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Stride by 51.7% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,190,600 shares of the company’s stock worth $48,565,000 after acquiring an additional 406,000 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Stride by 9.1% in the first quarter. Vanguard Group Inc. now owns 4,135,365 shares of the company’s stock worth $150,237,000 after acquiring an additional 343,338 shares during the last quarter. Finally, Boston Partners raised its stake in shares of Stride by 10.5% in the third quarter. Boston Partners now owns 3,110,143 shares of the company’s stock worth $126,442,000 after acquiring an additional 296,073 shares during the last quarter. 92.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Stride

In other Stride news, CEO James Jeaho Rhyu sold 35,531 shares of the company’s stock in a transaction that occurred on Thursday, January 26th. The shares were sold at an average price of $40.49, for a total value of $1,438,650.19. Following the completion of the sale, the chief executive officer now owns 515,920 shares of the company’s stock, valued at $20,889,600.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Stride news, CEO James Jeaho Rhyu sold 35,531 shares of the company’s stock in a transaction that occurred on Thursday, January 26th. The shares were sold at an average price of $40.49, for a total value of $1,438,650.19. Following the completion of the sale, the chief executive officer now owns 515,920 shares of the company’s stock, valued at $20,889,600.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Vincent Mathis sold 8,160 shares of the company’s stock in a transaction that occurred on Wednesday, January 25th. The shares were sold at an average price of $40.65, for a total transaction of $331,704.00. Following the completion of the sale, the executive vice president now directly owns 44,806 shares of the company’s stock, valued at approximately $1,821,363.90. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.

Stride Trading Up 0.3 %

LRN opened at $43.37 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.73 and a quick ratio of 3.63. The company has a market cap of $1.87 billion, a price-to-earnings ratio of 18.61, a price-to-earnings-growth ratio of 0.86 and a beta of 0.38. The firm has a 50 day simple moving average of $36.94 and a 200 day simple moving average of $37.61. Stride, Inc. has a fifty-two week low of $30.66 and a fifty-two week high of $47.35.

Stride (NYSE:LRN – Get Rating) last posted its quarterly earnings results on Tuesday, January 24th. The company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.12. Stride had a net margin of 5.63% and a return on equity of 12.30%. The business had revenue of $458.44 million during the quarter, compared to the consensus estimate of $443.23 million. During the same period in the previous year, the firm posted $1.00 earnings per share. Stride’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Stride, Inc. will post 2.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LRN. Barrington Research reaffirmed an “outperform” rating and issued a $50.00 target price on shares of Stride in a research note on Wednesday, January 25th. BMO Capital Markets boosted their target price on shares of Stride from $47.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday, January 26th. StockNews.com raised shares of Stride from a “hold” rating to a “buy” rating in a research note on Thursday, January 26th. Finally, Morgan Stanley boosted their target price on shares of Stride from $41.00 to $46.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 25th.

Stride Company Profile

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Stride, Inc is a technology-based educational company, which engages in the provision of proprietary and third-party curriculum, software systems and educational services. It also offers online curriculum and career services to middle and high school students, under the Destinations Career Academy brand name.