Congress Asset Management Co. Acquires 591,208 Shares of Stride, Inc. (NYSE:LRN)

Congress Asset Management Co. boosted its stake in shares of Stride, Inc. (NYSE:LRN - Free Report) by 102.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,169,748 shares of the company's stock after buying an additional 591,208 shares during the quarter. Stride makes up approximately 1.1% of Congress Asset Management Co.'s portfolio, making the stock its 18th biggest position. Congress Asset Management Co. owned 2.69% of Stride worth $147,973,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Stride by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 4,673,393 shares of the company's stock worth $485,706,000 after buying an additional 69,888 shares during the period. William Blair Investment Management LLC raised its position in shares of Stride by 18.0% in the 4th quarter. William Blair Investment Management LLC now owns 2,467,019 shares of the company's stock worth $256,397,000 after acquiring an additional 375,686 shares in the last quarter. Janus Henderson Group PLC raised its position 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 worth $155,251,000 after acquiring an additional 323,275 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Stride by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 970,395 shares of the company's stock worth $100,877,000 after acquiring an additional 5,694 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Stride by 293.1% in the 4th quarter. Principal Financial Group Inc. now owns 866,182 shares of the company's stock worth $90,024,000 after acquiring an additional 645,835 shares in the last quarter. 98.24% of the stock is owned by institutional investors and hedge funds.

Stride Stock Up 0.4%

LRN stock traded up $0.52 during trading on Friday, reaching $145.21. 552,955 shares of the stock were exchanged, compared to its average volume of 857,862. The firm's 50 day moving average is $144.64 and its 200 day moving average is $128.34. Stride, Inc. has a twelve month low of $63.25 and a twelve month high of $162.30. The company has a current ratio of 6.02, a quick ratio of 5.93 and a debt-to-equity ratio of 0.35. The firm has a market cap of $6.32 billion, a P/E ratio of 24.24, a price-to-earnings-growth ratio of 1.04 and a beta of 0.35.

Stride (NYSE:LRN - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $2.02 EPS for the quarter, missing analysts' consensus estimates of $2.09 by ($0.07). The company had revenue of $613.38 million for the quarter, compared to the consensus estimate of $591.15 million. Stride had a return on equity of 22.42% and a net margin of 12.30%. The business's revenue for the quarter was up 17.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.60 earnings per share. As a group, research analysts forecast that Stride, Inc. will post 6.67 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on LRN shares. Canaccord Genuity Group lifted their price objective on Stride from $145.00 to $155.00 and gave the stock a "buy" rating in a research report on Monday, April 28th. Wall Street Zen lowered Stride from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. William Blair reissued an "outperform" rating on shares of Stride in a research report on Wednesday, April 30th. Barrington Research boosted their target price on Stride from $150.00 to $170.00 and gave the company an "outperform" rating 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. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $126.83.

About Stride

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.