Grand Canyon Education, Inc. (NASDAQ:LOPE) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its stake in shares of Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) by 21.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 121,912 shares of the company's stock after selling 33,345 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.42% of Grand Canyon Education worth $21,555,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GeoWealth Management LLC purchased a new stake in Grand Canyon Education during the 4th quarter worth about $25,000. Aster Capital Management DIFC Ltd purchased a new stake in Grand Canyon Education in the 4th quarter valued at about $32,000. UMB Bank n.a. grew its holdings in Grand Canyon Education by 107.8% in the 1st quarter. UMB Bank n.a. now owns 318 shares of the company's stock valued at $55,000 after buying an additional 165 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in Grand Canyon Education in the 4th quarter valued at about $59,000. Finally, Blue Trust Inc. grew its holdings in Grand Canyon Education by 20.5% in the 1st quarter. Blue Trust Inc. now owns 577 shares of the company's stock valued at $100,000 after buying an additional 98 shares during the period. Hedge funds and other institutional investors own 94.17% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on LOPE shares. Wall Street Zen cut Grand Canyon Education from a "buy" rating to a "hold" rating in a report on Thursday, April 24th. Barrington Research lifted their price target on Grand Canyon Education from $205.00 to $215.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Finally, BMO Capital Markets lifted their price target on Grand Canyon Education from $208.00 to $222.00 and gave the company an "outperform" rating in a report on Thursday, May 22nd.

Grand Canyon Education Stock Up 0.6%

Shares of NASDAQ LOPE traded up $1.02 during midday trading on Friday, hitting $183.53. The stock had a trading volume of 135,459 shares, compared to its average volume of 182,702. The company has a market capitalization of $5.21 billion, a price-to-earnings ratio of 23.03, a PEG ratio of 1.40 and a beta of 0.77. Grand Canyon Education, Inc. has a 1-year low of $130.69 and a 1-year high of $202.28. The company has a fifty day moving average price of $189.87 and a 200 day moving average price of $178.26.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.06. The business had revenue of $289.31 million for the quarter, compared to analyst estimates of $287.18 million. Grand Canyon Education had a return on equity of 30.94% and a net margin of 21.94%. The company's revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.35 EPS. On average, research analysts forecast that Grand Canyon Education, Inc. will post 8.81 EPS for the current year.

About Grand Canyon Education

Grand Canyon Education, Inc provides education services to colleges and universities in the United States. It offers technology services, including learning management system, internal administration, infrastructure, and support services; academic services, such as program and curriculum, faculty and related training and development, class scheduling, and skills and simulation lab sites; and counseling services and support services comprising admission, financial aid, and field experience and other counseling services.