Private Advisor Group LLC Makes New $328,000 Investment in Stride, Inc. (NYSE:LRN)

Key Points

• Private Advisor Group LLC acquired a new position in Stride, Inc., investing approximately $328,000 for 2,594 shares in the first quarter of the year.
• Multiple institutional investors have increased their stakes in Stride, with Edgestream Partners L.P. investing around $2.06 million, highlighting robust institutional interest in the company.
• Stride's stock has a current market capitalization of $5.63 billion and has shown significant growth, with quarterly revenue up 17.8% compared to the same quarter last year.

Private Advisor Group LLC acquired a new position in shares of Stride, Inc. (NYSE:LRN - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,594 shares of the company's stock, valued at approximately $328,000.

Several other institutional investors and hedge funds have also bought and sold shares of LRN. Congress Asset Management Co. raised its stake in Stride by 102.2% during the first quarter. Congress Asset Management Co. now owns 1,169,748 shares of the company's stock worth $147,973,000 after acquiring an additional 591,208 shares in the last quarter. Norges Bank acquired a new position in shares of Stride in the fourth quarter valued at approximately $45,306,000. GAMMA Investing LLC increased its stake in shares of Stride by 14,892.4% in the first quarter. GAMMA Investing LLC now owns 370,013 shares of the company's stock valued at $46,807,000 after buying an additional 367,545 shares during the period. Cat Rock Capital Management LP acquired a new position in shares of Stride in the fourth quarter valued at approximately $36,694,000. Finally, Wellington Management Group LLP increased its stake in shares of Stride by 120.6% in the fourth quarter. Wellington Management Group LLP now owns 607,581 shares of the company's stock valued at $63,146,000 after buying an additional 332,098 shares during the period. Institutional investors own 98.24% of the company's stock.

Stride Stock Up 1.3%

Shares of Stride stock traded up $1.74 during trading on Monday, reaching $131.00. 158,300 shares of the company traded hands, compared to its average volume of 764,556. The company has a debt-to-equity ratio of 0.33, a current ratio of 5.61 and a quick ratio of 5.53. Stride, Inc. has a 1-year low of $63.25 and a 1-year high of $162.30. The company has a 50 day moving average price of $139.80 and a 200-day moving average price of $137.10. The firm has a market capitalization of $5.70 billion, a PE ratio of 20.42, a P/E/G ratio of 0.83 and a beta of 0.10.

Wall Street Analysts Forecast Growth

LRN has been the subject of several recent research reports. Canaccord Genuity Group upped their price objective on Stride from $145.00 to $155.00 and gave the company a "buy" rating in a research note on Monday, April 28th. William Blair reaffirmed an "outperform" rating on shares of Stride in a research note on Wednesday, April 30th. Wall Street Zen raised Stride from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. BMO Capital Markets restated an "outperform" rating on shares of Stride in a research report on Thursday, May 1st. Finally, Barrington Research restated an "outperform" rating and issued a $170.00 price target on shares of Stride in a research report on Thursday, July 24th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Stride presently has a consensus rating of "Moderate Buy" and an average 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.