Congress Asset Management Co. Purchases 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% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,169,748 shares of the company's stock after acquiring an additional 591,208 shares during the period. Stride accounts for 1.1% of Congress Asset Management Co.'s portfolio, making the stock its 18th largest holding. Congress Asset Management Co. owned approximately 2.69% of Stride worth $147,973,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of LRN. Choreo LLC purchased a new position in shares of Stride during the fourth quarter valued at about $588,000. Bleakley Financial Group LLC boosted its stake in Stride by 14.2% during the fourth quarter. Bleakley Financial Group LLC now owns 4,400 shares of the company's stock valued at $457,000 after buying an additional 547 shares during the last quarter. Advisors Preferred LLC purchased a new position in Stride during the 4th quarter valued at approximately $708,000. Empowered Funds LLC bought a new stake in Stride in the 4th quarter worth approximately $1,683,000. Finally, Entropy Technologies LP increased its stake in Stride by 47.2% in the 4th quarter. Entropy Technologies LP now owns 7,623 shares of the company's stock worth $792,000 after acquiring an additional 2,445 shares during the last quarter. 98.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

LRN has been the subject of a number of recent research reports. Wall Street Zen cut shares of Stride from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. BMO Capital Markets reissued an "outperform" rating on shares of Stride in a research note on Thursday, May 1st. Canaccord Genuity Group raised their price objective on Stride from $145.00 to $155.00 and gave the company a "buy" rating in a research note on Monday, April 28th. Barrington Research lifted their target price on Stride from $150.00 to $170.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Finally, William Blair restated an "outperform" rating on shares of Stride in a report on Wednesday, April 30th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $126.83.

Stride Trading Down 1.2%

Shares of LRN traded down $1.65 during mid-day trading on Tuesday, reaching $139.57. 549,341 shares of the company's stock traded hands, compared to its average volume of 856,197. The company has a debt-to-equity ratio of 0.35, a current ratio of 6.02 and a quick ratio of 5.93. The stock's 50-day moving average is $145.02 and its two-hundred day moving average is $129.03. Stride, Inc. has a 12 month low of $63.25 and a 12 month high of $162.30. The stock has a market cap of $6.07 billion, a P/E ratio of 23.30, a P/E/G ratio of 1.04 and a beta of 0.35.

Stride (NYSE:LRN - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $2.02 earnings per share (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 analysts' expectations of $591.15 million. Stride had a net margin of 12.30% and a return on equity of 22.42%. The firm'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 posted $1.60 earnings per share. Research analysts forecast that Stride, Inc. will post 6.67 earnings per share for the current fiscal year.

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.