Pinnacle Wealth Management LLC Increases Holdings in Stride, Inc. $LRN

Pinnacle Wealth Management LLC lifted its position in Stride, Inc. (NYSE:LRN) by 115.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,963 shares of the company’s stock after purchasing an additional 5,875 shares during the quarter. Pinnacle Wealth Management LLC’s holdings in Stride were worth $1,592,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Swedbank AB raised its stake in shares of Stride by 5.4% in the first quarter. Swedbank AB now owns 1,009,726 shares of the company’s stock worth $127,730,000 after purchasing an additional 52,000 shares during the last quarter. Deutsche Bank AG raised its stake in shares of Stride by 10.4% in the first quarter. Deutsche Bank AG now owns 617,894 shares of the company’s stock worth $78,164,000 after purchasing an additional 58,029 shares during the last quarter. Driehaus Capital Management LLC raised its stake in shares of Stride by 12.3% in the first quarter. Driehaus Capital Management LLC now owns 613,820 shares of the company’s stock worth $77,648,000 after purchasing an additional 67,184 shares during the last quarter. Northern Trust Corp raised its stake in shares of Stride by 1.3% in the first quarter. Northern Trust Corp now owns 467,774 shares of the company’s stock worth $59,173,000 after purchasing an additional 5,820 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of Stride in the first quarter worth about $38,835,000. 98.24% of the stock is currently owned by hedge funds and other institutional investors.

Stride Stock Up 3.1%

Shares of LRN stock opened at $145.00 on Friday. The stock has a 50 day moving average of $153.11 and a 200 day moving average of $145.51. The company has a current ratio of 5.39, a quick ratio of 5.27 and a debt-to-equity ratio of 0.31. The stock has a market cap of $6.33 billion, a P/E ratio of 24.09, a P/E/G ratio of 0.82 and a beta of 0.07. Stride, Inc. has a twelve month low of $63.36 and a twelve month high of $171.17.

Stride (NYSE:LRN) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.46. The company had revenue of $653.65 million during the quarter, compared to analysts’ expectations of $626.23 million. Stride had a return on equity of 25.51% and a net margin of 11.97%.Stride’s quarterly revenue was up 22.4% on a year-over-year basis. During the same period last year, the business earned $1.42 earnings per share. As a group, sell-side analysts expect that Stride, Inc. will post 6.67 EPS for the current year.

Insider Buying and Selling

In other Stride news, CEO James Jeaho Rhyu sold 13,961 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $162.66, for a total value of $2,270,896.26. Following the sale, the chief executive officer directly owned 706,353 shares of the company’s stock, valued at approximately $114,895,378.98. This trade represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Weiss Ratings restated a “buy (b)” rating on shares of Stride in a research note on Wednesday, October 8th. Barrington Research restated an “outperform” rating and issued a $185.00 price objective on shares of Stride in a research note on Tuesday, September 23rd. Wall Street Zen cut Stride from a “buy” rating to a “hold” rating in a research report on Saturday, October 4th. Finally, Morgan Stanley lifted their price target on Stride from $148.00 to $159.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 6th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $146.40.

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.