Allspring Global Investments Holdings LLC Sells 44,614 Shares of Stride, Inc. (NYSE:LRN)

Allspring Global Investments Holdings LLC lowered its stake in Stride, Inc. (NYSE:LRN - Free Report) by 23.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 145,817 shares of the company's stock after selling 44,614 shares during the period. Allspring Global Investments Holdings LLC owned 0.33% of Stride worth $18,828,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Fifth Third Bancorp increased its position in shares of Stride by 158.8% during the first quarter. Fifth Third Bancorp now owns 383 shares of the company's stock valued at $48,000 after buying an additional 235 shares during the period. CIBC Private Wealth Group LLC boosted its position in 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 in the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Stride during the 4th quarter worth approximately $41,000. Golden State Wealth Management LLC raised its position in shares of Stride by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 400 shares of the company's stock worth $51,000 after acquiring an additional 200 shares in the last quarter. Finally, Park Place Capital Corp purchased a new position in shares of Stride in the 1st quarter valued at approximately $63,000. 98.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Stride Stock Down 0.2%

NYSE:LRN traded down $0.22 on Friday, reaching $137.40. 271,137 shares of the stock traded hands, compared to its average volume of 860,117. The company has a current ratio of 5.61, a quick ratio of 5.53 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $5.98 billion, a price-to-earnings ratio of 21.44, a PEG ratio of 0.89 and a beta of 0.32. Stride, Inc. has a 12 month low of $63.25 and a 12 month high of $162.30. The company's fifty day simple moving average is $148.35 and its 200 day simple moving average is $133.01.

Stride (NYSE:LRN - Get Free Report) last posted its quarterly 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). Stride had a net margin of 13.10% and a return on equity of 23.36%. The firm had revenue of $613.38 million for the quarter, compared to analysts' expectations of $591.15 million. During the same quarter in the previous year, the company earned $1.60 EPS. The company's quarterly revenue was up 17.8% compared to the same quarter last year. Equities analysts predict that Stride, Inc. will post 6.67 EPS for the current fiscal year.

Stride 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.