Cullen Frost Bankers Inc. Increases Stock Holdings in Stride, Inc. $LRN

Cullen Frost Bankers Inc. increased its holdings in shares of Stride, Inc. (NYSE:LRN) by 129.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 326 shares of the company’s stock after buying an additional 184 shares during the period. Cullen Frost Bankers Inc.’s holdings in Stride were worth $47,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Larson Financial Group LLC lifted its position in shares of Stride by 333.3% during the 1st quarter. Larson Financial Group LLC now owns 208 shares of the company’s stock valued at $26,000 after buying an additional 160 shares in the last quarter. First Horizon Advisors Inc. lifted its position in shares of Stride by 140.5% during the 1st quarter. First Horizon Advisors Inc. now owns 267 shares of the company’s stock valued at $34,000 after buying an additional 156 shares in the last quarter. Harbour Investments Inc. lifted its position in shares of Stride by 374.6% during the 1st quarter. Harbour Investments Inc. now owns 337 shares of the company’s stock valued at $43,000 after buying an additional 266 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Stride during the 1st quarter valued at approximately $43,000. Finally, Geneos Wealth Management Inc. lifted its position in shares of Stride by 62.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the company’s stock valued at $43,000 after buying an additional 131 shares in the last quarter. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Stride Price Performance

Stride stock opened at $152.17 on Monday. Stride, Inc. has a 12-month low of $89.11 and a 12-month high of $171.17. The stock has a market cap of $6.64 billion, a P/E ratio of 25.28, a PEG ratio of 0.86 and a beta of 0.07. The company has a 50-day moving average price of $152.52 and a 200 day moving average price of $146.46. The company has a current ratio of 5.39, a quick ratio of 5.27 and a debt-to-equity ratio of 0.31.

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

Analyst Upgrades and Downgrades

Several research firms recently commented on LRN. Morgan Stanley increased their price objective on Stride from $148.00 to $159.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. Barrington Research reissued 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 downgraded Stride from a “buy” rating to a “hold” rating in a research note on Saturday, October 4th. Canaccord Genuity Group increased their price objective on Stride from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Friday. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Stride in a research note on Saturday. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $150.40.

Insider Activity

In related news, CEO James Jeaho Rhyu sold 13,961 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 706,353 shares in the company, valued at $114,895,378.98. This trade represents a 1.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 3.00% of the company’s stock.

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.