Cookson Peirce & Co. Inc. Increases Stake in Stride, Inc. $LRN

Cookson Peirce & Co. Inc. grew its stake in Stride, Inc. (NYSE:LRN) by 1,399.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 97,338 shares of the company’s stock after buying an additional 90,845 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in Stride were worth $14,133,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in LRN. Larson Financial Group LLC lifted its stake in Stride by 333.3% during the first quarter. Larson Financial Group LLC now owns 208 shares of the company’s stock worth $26,000 after purchasing an additional 160 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in Stride by 140.5% during the first quarter. First Horizon Advisors Inc. now owns 267 shares of the company’s stock worth $34,000 after purchasing an additional 156 shares during the last quarter. Harbour Investments Inc. lifted its stake in Stride by 374.6% during the first quarter. Harbour Investments Inc. now owns 337 shares of the company’s stock worth $43,000 after purchasing an additional 266 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Stride during the first quarter worth approximately $43,000. Finally, Geneos Wealth Management Inc. lifted its stake in Stride by 62.7% during the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the company’s stock worth $43,000 after purchasing an additional 131 shares during the last quarter. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Insiders Place Their Bets

In related news, CEO James Jeaho Rhyu sold 13,961 shares of the company’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $162.66, for a total transaction of $2,270,896.26. Following the transaction, the chief executive officer owned 706,353 shares of the company’s stock, valued at $114,895,378.98. This represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 3.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Stride Trading Up 4.5%

LRN opened at $152.15 on Wednesday. The firm has a market cap of $6.64 billion, a price-to-earnings ratio of 25.27, a price-to-earnings-growth ratio of 0.83 and a beta of 0.07. The company has a quick ratio of 5.27, a current ratio of 5.39 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average is $152.92 and its two-hundred day moving average is $145.80. Stride, Inc. has a 52 week low of $63.36 and a 52 week high of $171.17.

Stride (NYSE:LRN) last released its earnings results on Tuesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.46. The business had revenue of $653.65 million for the quarter, compared to analyst estimates of $626.23 million. Stride had a return on equity of 25.51% and a net margin of 11.97%.The company’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.42 earnings per share. On average, research analysts predict that Stride, Inc. will post 6.67 EPS for the current year.

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.