First Trust Advisors LP Has $1.81 Million Stake in Stride, Inc. $LRN

Key Points

• First Trust Advisors LP cut its Stride stake by 60.9% in the first quarter, selling 31,907 shares and retaining 20,484 shares valued at approximately $1.81 million.
• Other major institutional investors, including Vanguard, Dimensional Fund Advisors and Morgan Stanley, increased their positions; institutions and hedge funds collectively own 98.24% of Stride’s stock.
• Analyst sentiment remains cautious, with two Buy ratings and five Hold ratings and an average price target of $109.75. Stride shares opened at $82.36, versus a 12-month range of $60.61 to $171.17.

First Trust Advisors LP lowered its holdings in Stride, Inc. (NYSE:LRN - Free Report) by 60.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,484 shares of the company's stock after selling 31,907 shares during the period. First Trust Advisors LP's holdings in Stride were worth $1,806,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LRN. Vanguard Group Inc. increased its position in shares of Stride by 7.5% in the fourth quarter. Vanguard Group Inc. now owns 4,883,571 shares of the company's stock valued at $317,090,000 after acquiring an additional 340,838 shares during the last quarter. Invesco Ltd. boosted its position in Stride by 1.3% during the third quarter. Invesco Ltd. now owns 1,805,508 shares of the company's stock valued at $268,912,000 after purchasing an additional 23,488 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Stride by 5.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,750,646 shares of the company's stock valued at $154,339,000 after purchasing an additional 90,851 shares during the last quarter. Morgan Stanley grew its stake in Stride by 98.1% in the fourth quarter. Morgan Stanley now owns 1,631,570 shares of the company's stock valued at $105,938,000 after purchasing an additional 808,141 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in Stride by 1.6% in the fourth quarter. Janus Henderson Group PLC now owns 1,414,430 shares of the company's stock valued at $91,848,000 after purchasing an additional 21,949 shares in the last quarter. 98.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on LRN shares. BMO Capital Markets reiterated a "market perform" rating on shares of Stride in a research note on Monday, June 15th. Weiss Ratings reissued a "hold (c)" rating on shares of Stride in a research note on Wednesday, July 8th. Barrington Research restated an "outperform" rating and set a $125.00 target price on shares of Stride in a report on Thursday, April 16th. Finally, William Blair lowered shares of Stride from an "outperform" rating to a "market perform" rating in a research report on Thursday, July 30th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Stride has an average rating of "Hold" and an average price target of $109.75.

Stride Stock Performance

LRN opened at $82.36 on Friday. Stride, Inc. has a 12-month low of $60.61 and a 12-month high of $171.17. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of 11.44, a PEG ratio of 0.48 and a beta of 0.11. The business has a 50 day moving average of $88.82 and a 200-day moving average of $87.87. The company has a quick ratio of 6.14, a current ratio of 5.94 and a debt-to-equity ratio of 0.29.

Stride Profile

Stride, Inc NYSE: LRN is a technology-driven education company that designs and delivers online learning solutions for students and adult learners. Through long-term partnerships with state-authorized public school districts, Stride operates virtual academies that serve K-12 students across the United States. The company's blended-learning model combines digital curriculum, live teaching support and data analytics to personalize instruction and monitor student progress.

In addition to its K-12 offerings, Stride provides a portfolio of career and workforce readiness programs under its Stride Career Prep division.

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