Stride, Inc. (NYSE:LRN) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its holdings in shares of Stride, Inc. (NYSE:LRN - Free Report) by 30.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 185,302 shares of the company's stock after purchasing an additional 43,418 shares during the quarter. Envestnet Asset Management Inc. owned about 0.43% of Stride worth $23,441,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. OneDigital Investment Advisors LLC acquired a new position in shares of Stride during the first quarter worth about $404,000. First Horizon Advisors Inc. increased its position in shares of Stride by 140.5% during the first quarter. First Horizon Advisors Inc. now owns 267 shares of the company's stock worth $34,000 after acquiring an additional 156 shares during the last quarter. Keybank National Association OH increased its position in shares of Stride by 65.8% during the first quarter. Keybank National Association OH now owns 6,413 shares of the company's stock worth $811,000 after acquiring an additional 2,544 shares during the last quarter. DAVENPORT & Co LLC purchased a new stake in shares of Stride during the first quarter worth about $461,000. Finally, Koshinski Asset Management Inc. increased its position in shares of Stride by 49.8% during the first quarter. Koshinski Asset Management Inc. now owns 4,394 shares of the company's stock worth $556,000 after acquiring an additional 1,460 shares during the last quarter. Institutional investors and hedge funds own 98.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LRN. Barrington Research lifted their target price on Stride from $150.00 to $170.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. William Blair reissued an "outperform" rating on shares of Stride in a report on Wednesday, April 30th. Canaccord Genuity Group boosted their price objective on Stride from $145.00 to $155.00 and gave the company a "buy" rating in a report on Monday, April 28th. Wall Street Zen raised Stride from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Stride in a report on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $126.83.

Stride Stock Performance

Shares of NYSE:LRN traded up $2.42 during trading on Friday, hitting $135.17. 47,330 shares of the company traded hands, compared to its average volume of 779,860. The stock has a market capitalization of $5.88 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 0.86 and a beta of 0.32. The business's fifty day moving average is $145.19 and its 200-day moving average is $135.06. Stride, Inc. has a one year low of $63.25 and a one year 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.

Stride (NYSE:LRN - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $2.02 EPS for the quarter, missing the consensus estimate 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 net margin of 13.10% and a return on equity of 23.36%. The firm's revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period last year, the company posted $1.60 earnings per share. As a group, equities analysts predict 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.