3,645 Shares in Stride, Inc. (NYSE:LRN) Acquired by DAVENPORT & Co LLC

DAVENPORT & Co LLC acquired a new position in Stride, Inc. (NYSE:LRN - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,645 shares of the company's stock, valued at approximately $461,000.

A number of other large investors have also modified their holdings of LRN. Mutual of America Capital Management LLC raised its position in shares of Stride by 1.5% in the fourth quarter. Mutual of America Capital Management LLC now owns 6,492 shares of the company's stock worth $675,000 after acquiring an additional 93 shares during the period. Smartleaf Asset Management LLC raised its position in shares of Stride by 372.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 751 shares of the company's stock worth $79,000 after acquiring an additional 592 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Stride by 0.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 520,363 shares of the company's stock valued at $54,081,000 after purchasing an additional 1,542 shares during the period. Assetmark Inc. grew its position in shares of Stride by 11,953.3% in the fourth quarter. Assetmark Inc. now owns 1,808 shares of the company's stock valued at $188,000 after purchasing an additional 1,793 shares during the period. Finally, Atria Investments Inc raised its position in shares of Stride by 15.5% during the 4th quarter. Atria Investments Inc now owns 3,715 shares of the company's stock worth $386,000 after purchasing an additional 499 shares during the last quarter. Institutional investors and hedge funds own 98.24% of the company's stock.

Stride Trading Down 0.7%

Shares of Stride stock traded down $1.00 during mid-day trading on Wednesday, hitting $135.23. The stock had a trading volume of 17,213 shares, compared to its average volume of 858,318. The firm has a 50-day moving average of $148.10 and a two-hundred day moving average of $133.85. Stride, Inc. has a 12-month low of $63.25 and a 12-month high of $162.30. The company has a quick ratio of 5.53, a current ratio of 5.61 and a debt-to-equity ratio of 0.33. The firm has a market cap of $5.88 billion, a P/E ratio of 21.11, a price-to-earnings-growth ratio of 0.89 and a beta of 0.32.

Stride (NYSE:LRN - Get Free Report) last posted 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). Stride had a net margin of 13.10% and a return on equity of 23.36%. The firm had revenue of $613.38 million during the quarter, compared to analysts' expectations of $591.15 million. During the same period last year, the company earned $1.60 EPS. The business's quarterly revenue was up 17.8% on a year-over-year basis. Sell-side analysts forecast that Stride, Inc. will post 6.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. BMO Capital Markets restated an "outperform" rating on shares of Stride in a research report on Thursday, May 1st. Barrington Research upped their price target on shares of Stride from $150.00 to $170.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Canaccord Genuity Group increased their price objective on shares of Stride from $145.00 to $155.00 and gave the company a "buy" rating in a report on Monday, April 28th. Wall Street Zen upgraded shares of Stride from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Finally, William Blair reiterated an "outperform" rating on shares of Stride in a report on Wednesday, April 30th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company 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.