Arrowpoint Investment Partners Singapore Pte. Ltd. Buys Shares of 1,780 Stride, Inc. (NYSE:LRN)

Key Points

• Arrowpoint Investment Partners Singapore has acquired a new stake in Stride, Inc., purchasing 1,780 shares valued at approximately $225,000 during the first quarter.
• Stride reported earnings of $2.29 per share, exceeding analyst estimates of $1.83, with revenues increasing by 22.4% year-over-year to $653.65 million.
• Institutional investors now own 98.24% of Stride's stock, with several hedge funds enhancing their stakes significantly during the same period.

Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new stake in shares of Stride, Inc. (NYSE:LRN - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,780 shares of the company's stock, valued at approximately $225,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LRN. Congress Asset Management Co. boosted 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 valued at $147,973,000 after buying an additional 591,208 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Stride by 14,892.4% in the 1st quarter. GAMMA Investing LLC now owns 370,013 shares of the company's stock worth $46,807,000 after purchasing an additional 367,545 shares in the last quarter. Cat Rock Capital Management LP acquired a new stake in Stride during the 4th quarter worth about $36,694,000. Wellington Management Group LLP raised its stake in shares of Stride by 120.6% during the 4th 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 last quarter. Finally, Janus Henderson Group PLC increased 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 in the last quarter. 98.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

LRN has been the topic of a number of recent analyst reports. Wall Street Zen upgraded Stride from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Barrington Research reaffirmed an "outperform" rating and set a $170.00 price objective on shares of Stride in a report on Thursday, July 24th. Canaccord Genuity Group raised their price target on Stride from $145.00 to $155.00 and gave the stock a "buy" rating in a report on Monday, April 28th. William Blair reiterated an "outperform" rating on shares of Stride in a research report on Wednesday, April 30th. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Stride in a research note on Thursday, May 1st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $143.40.

Stride Stock Performance

NYSE LRN traded up $3.39 during midday trading on Friday, hitting $160.47. The company had a trading volume of 548,394 shares, compared to its average volume of 765,831. The stock has a market cap of $7.00 billion, a price-to-earnings ratio of 26.66, a P/E/G ratio of 0.92 and a beta of 0.10. Stride, Inc. has a fifty-two week low of $63.25 and a fifty-two week high of $162.30. The company has a quick ratio of 5.27, a current ratio of 5.39 and a debt-to-equity ratio of 0.31. The firm has a fifty day simple moving average of $139.62 and a two-hundred day simple moving average of $138.96.

Stride (NYSE:LRN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.83 by $0.46. Stride had a net margin of 11.97% and a return on equity of 25.51%. The firm had revenue of $653.65 million during the quarter, compared to analysts' expectations of $626.23 million. During the same quarter in the previous year, the company earned $1.42 earnings per share. The business's revenue for the quarter was up 22.4% on a year-over-year basis. Equities analysts forecast that Stride, Inc. will post 6.67 earnings per share 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.