Asset Management One Co. Ltd. Sells 22,130 Shares of Stride, Inc. (NYSE:LRN)

Asset Management One Co. Ltd. cut its stake in Stride, Inc. (NYSE:LRN - Free Report) by 40.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,163 shares of the company's stock after selling 22,130 shares during the quarter. Asset Management One Co. Ltd. owned 0.07% of Stride worth $4,069,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Aigen Investment Management LP purchased a new stake in Stride in the fourth quarter worth approximately $995,000. Truist Financial Corp bought a new position in shares of Stride during the 4th quarter valued at $302,000. GAMMA Investing LLC boosted its stake 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 buying an additional 367,545 shares during the last quarter. Kendall Capital Management grew its holdings in shares of Stride by 24.4% in the fourth quarter. Kendall Capital Management now owns 23,135 shares of the company's stock worth $2,404,000 after acquiring an additional 4,545 shares during the period. Finally, Wellington Management Group LLP increased its position in Stride by 120.6% during the fourth quarter. Wellington Management Group LLP now owns 607,581 shares of the company's stock valued at $63,146,000 after acquiring an additional 332,098 shares during the last quarter. 98.24% of the stock is currently owned by institutional investors.

Stride Trading Up 1.9%

Shares of NYSE:LRN opened at $145.53 on Monday. The stock has a 50 day moving average of $148.13 and a 200 day moving average of $132.45. The company has a market cap of $6.33 billion, a PE ratio of 22.70, a price-to-earnings-growth ratio of 1.03 and a beta of 0.35. Stride, Inc. has a 12-month low of $63.25 and a 12-month high of $162.30. The company has a current ratio of 5.61, a quick ratio of 5.53 and a debt-to-equity ratio of 0.33.

Stride (NYSE:LRN - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $2.02 earnings per share 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 analysts' expectations of $591.15 million. Stride had a net margin of 13.10% and a return on equity of 23.36%. Stride's revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.60 EPS. As a group, equities research analysts expect that Stride, Inc. will post 6.67 EPS for the current year.

Analyst Ratings Changes

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

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.

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