Canandaigua National Bank & Trust Co. Makes New $273,000 Investment in Stride, Inc. (NYSE:LRN)

Canandaigua National Bank & Trust Co. bought a new position in Stride, Inc. (NYSE:LRN - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,156 shares of the company's stock, valued at approximately $273,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Mutual of America Capital Management LLC lifted its position in Stride by 1.5% during the fourth quarter. Mutual of America Capital Management LLC now owns 6,492 shares of the company's stock valued at $675,000 after purchasing an additional 93 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Stride by 0.8% in the fourth quarter. Arizona State Retirement System now owns 11,932 shares of the company's stock worth $1,240,000 after buying an additional 99 shares during the period. Bosun Asset Management LLC lifted its position in shares of Stride by 1.4% during the 4th quarter. Bosun Asset Management LLC now owns 8,292 shares of the company's stock valued at $862,000 after buying an additional 111 shares in the last quarter. CIBC Private Wealth Group LLC grew its stake in shares of Stride by 85.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 386 shares of the company's stock valued at $42,000 after acquiring an additional 178 shares during the period. Finally, NDVR Inc. raised its stake in Stride by 5.1% during the 4th quarter. NDVR Inc. now owns 3,762 shares of the company's stock worth $391,000 after acquiring an additional 182 shares during the period. Hedge funds and other institutional investors own 98.24% of the company's stock.

Stride Price Performance

Shares of LRN traded down $3.34 during midday trading on Tuesday, hitting $141.85. 653,734 shares of the company traded hands, compared to its average volume of 853,852. The stock has a market cap of $6.17 billion, a price-to-earnings ratio of 22.13, a PEG ratio of 1.03 and a beta of 0.35. The firm has a 50 day moving average of $148.36 and a 200-day moving average of $132.72. The company has a debt-to-equity ratio of 0.33, a quick ratio of 5.53 and a current ratio of 5.61. Stride, Inc. has a 52 week low of $63.25 and a 52 week high of $162.30.

Stride (NYSE:LRN - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $2.02 EPS for the quarter, missing analysts' consensus estimates of $2.09 by ($0.07). The firm had revenue of $613.38 million during the quarter, compared to analysts' expectations of $591.15 million. Stride had a return on equity of 23.36% and a net margin of 13.10%. Stride's quarterly revenue was up 17.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.60 earnings per share. On average, analysts forecast that Stride, Inc. will post 6.67 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on LRN shares. Wall Street Zen upgraded shares of Stride from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Barrington Research upped their target price on shares of Stride from $150.00 to $170.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. BMO Capital Markets reissued an "outperform" rating on shares of Stride in a report on Thursday, May 1st. Canaccord Genuity Group boosted their price objective on Stride from $145.00 to $155.00 and gave the company a "buy" rating in a research report on Monday, April 28th. Finally, William Blair reiterated an "outperform" rating on shares of Stride in a research report on Wednesday, April 30th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Stride presently has a consensus rating of "Moderate Buy" and a consensus price target of $126.83.

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.