Allspring Global Investments Holdings LLC Purchases 48,542 Shares of Stride, Inc. $LRN

Key Points

• Allspring Global Investments boosted its stake in Stride by 616.4% in the first quarter, buying 48,542 additional shares and bringing its total holdings to 56,417 shares worth about $5.0 million.
• Stride continues to attract heavy institutional interest, with several other big investors increasing or initiating positions; the article says 98.24% of the stock is owned by hedge funds and other institutions.
• Analysts are mixed on the stock: the current consensus rating is “Hold” with a consensus price target of $109.75, while Stride recently beat quarterly EPS expectations and posted modest revenue growth.

Allspring Global Investments Holdings LLC increased its holdings in Stride, Inc. (NYSE:LRN - Free Report) by 616.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,417 shares of the company's stock after acquiring an additional 48,542 shares during the period. Allspring Global Investments Holdings LLC owned about 0.13% of Stride worth $5,013,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Stride during the 4th quarter worth $72,871,000. Morgan Stanley increased its holdings in Stride by 98.1% during the fourth quarter. Morgan Stanley now owns 1,631,570 shares of the company's stock worth $105,938,000 after buying an additional 808,141 shares during the last quarter. Barclays PLC increased its holdings in Stride by 254.8% during the fourth quarter. Barclays PLC now owns 688,214 shares of the company's stock worth $44,686,000 after buying an additional 494,215 shares during the last quarter. Victory Capital Management Inc. raised its position in Stride by 682.1% in the fourth quarter. Victory Capital Management Inc. now owns 562,346 shares of the company's stock worth $36,513,000 after acquiring an additional 490,445 shares during the period. Finally, Nearwater Capital Markets Ltd purchased a new position in Stride in the fourth quarter valued at about $31,686,000. 98.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. William Blair reissued an "outperform" rating on shares of Stride in a research report on Monday, June 15th. Barrington Research reaffirmed an "outperform" rating and issued a $125.00 price target on shares of Stride in a report on Thursday, April 16th. Weiss Ratings reiterated a "hold (c)" rating on shares of Stride in a research note on Wednesday, July 8th. Finally, BMO Capital Markets reissued a "market perform" rating on shares of Stride in a research report on Monday, June 15th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Stride presently has a consensus rating of "Hold" and a consensus price target of $109.75.

Stride Price Performance

Shares of Stride stock opened at $86.72 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 6.14 and a current ratio of 6.21. Stride, Inc. has a 52-week low of $60.61 and a 52-week high of $171.17. The company has a fifty day moving average of $89.76 and a 200-day moving average of $86.74. The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 0.48 and a beta of 0.10.

Stride (NYSE:LRN - Get Free Report) last issued its earnings results on Tuesday, April 28th. The company reported $2.30 EPS for the quarter, topping analysts' consensus estimates of $2.21 by $0.09. The company had revenue of $629.87 million for the quarter, compared to analysts' expectations of $629.69 million. Stride had a net margin of 12.15% and a return on equity of 25.20%. The firm's revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.02 EPS. Equities research analysts expect that Stride, Inc. will post 8.21 EPS for the current year.

Stride Company Profile

Stride, Inc NYSE: LRN is a technology-driven education company that designs and delivers online learning solutions for students and adult learners. Through long-term partnerships with state-authorized public school districts, Stride operates virtual academies that serve K-12 students across the United States. The company's blended-learning model combines digital curriculum, live teaching support and data analytics to personalize instruction and monitor student progress.

In addition to its K-12 offerings, Stride provides a portfolio of career and workforce readiness programs under its Stride Career Prep division.

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