Envestnet Portfolio Solutions Inc. Buys Shares of 3,108 Stride, Inc. (NYSE:LRN)

Envestnet Portfolio Solutions Inc. bought a new position in Stride, Inc. (NYSE:LRN - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 3,108 shares of the company's stock, valued at approximately $393,000.

A number of other hedge funds have also recently made changes to their positions in LRN. Vanguard Group Inc. raised its position in Stride by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 4,673,393 shares of the company's stock worth $485,706,000 after purchasing an additional 69,888 shares during the last quarter. William Blair Investment Management LLC lifted its position in shares of Stride by 18.0% in the 4th quarter. William Blair Investment Management LLC now owns 2,467,019 shares of the company's stock worth $256,397,000 after purchasing an additional 375,686 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Stride by 27.6% in the 4th quarter. Janus Henderson Group PLC now owns 1,493,709 shares of the company's stock valued at $155,251,000 after purchasing an additional 323,275 shares during the last quarter. Congress Asset Management Co. lifted its holdings in Stride by 102.2% in the first quarter. Congress Asset Management Co. now owns 1,169,748 shares of the company's stock valued at $147,973,000 after buying an additional 591,208 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Stride by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 970,395 shares of the company's stock worth $100,877,000 after acquiring an additional 5,694 shares during the period. 98.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Stride Stock Down 2.3%

LRN traded down $3.34 during mid-day trading on Tuesday, reaching $141.85. 653,734 shares of the stock were exchanged, compared to its average volume of 855,571. The company has a 50 day moving average price of $148.44 and a two-hundred day moving average price of $132.78. The stock has a market capitalization of $6.17 billion, a PE ratio of 22.13, a price-to-earnings-growth ratio of 1.02 and a beta of 0.32. 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 1 year low of $63.25 and a 1 year 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 the consensus estimate of $2.09 by ($0.07). The firm had revenue of $613.38 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the business earned $1.60 EPS. As a group, research analysts anticipate that Stride, Inc. will post 6.67 EPS for the current year.

Stride Company Profile

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.