TrueWealth Advisors LLC Buys Shares of 3,510 Stride, Inc. $LRN

TrueWealth Advisors LLC purchased a new stake in shares of Stride, Inc. (NYSE:LRN) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 3,510 shares of the company’s stock, valued at approximately $510,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Larson Financial Group LLC increased its stake in shares of Stride by 333.3% during the first quarter. Larson Financial Group LLC now owns 208 shares of the company’s stock valued at $26,000 after purchasing an additional 160 shares in the last quarter. First Horizon Advisors Inc. grew its stake in Stride by 140.5% in the 1st quarter. First Horizon Advisors Inc. now owns 267 shares of the company’s stock worth $34,000 after acquiring an additional 156 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Stride in the 4th quarter worth approximately $41,000. Harbour Investments Inc. lifted its position in shares of Stride by 374.6% in the 1st quarter. Harbour Investments Inc. now owns 337 shares of the company’s stock worth $43,000 after purchasing an additional 266 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Stride during the first quarter valued at approximately $43,000. 98.24% of the stock is owned by institutional investors.

Insider Activity at Stride

In other news, CEO James Jeaho Rhyu sold 13,961 shares of the business’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 transaction of $2,270,896.26. Following the sale, the chief executive officer directly owned 706,353 shares in the company, valued at approximately $114,895,378.98. The trade was a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Stride from a “buy” rating to a “hold” rating in a research note on Friday, August 22nd. Morgan Stanley boosted their price objective on shares of Stride from $148.00 to $159.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. Finally, Barrington Research boosted their price objective on shares of Stride from $170.00 to $185.00 and gave the company an “outperform” rating in a research note on Friday, August 29th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Stride currently has an average rating of “Moderate Buy” and an average target price of $146.40.

Stride Price Performance

Shares of NYSE LRN opened at $158.36 on Friday. Stride, Inc. has a fifty-two week low of $63.25 and a fifty-two week high of $171.17. 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 firm’s 50-day simple moving average is $148.06 and its 200 day simple moving average is $142.58. The stock has a market cap of $6.91 billion, a P/E ratio of 26.31, a P/E/G ratio of 0.94 and a beta of 0.22.

Stride (NYSE:LRN) last posted 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 return on equity of 25.51% and a net margin of 11.97%.The firm had revenue of $653.65 million for the quarter, compared to the consensus estimate of $626.23 million. During the same quarter in the previous year, the company earned $1.42 EPS. The business’s revenue for the quarter was up 22.4% compared to the same quarter last year. Equities analysts expect 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.