Invesco Ltd. Has $204.46 Million Stake in Stride, Inc. (NYSE:LRN)

Invesco Ltd. lessened its holdings in Stride, Inc. (NYSE:LRN - Free Report) by 4.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,616,245 shares of the company's stock after selling 70,427 shares during the quarter. Invesco Ltd. owned approximately 3.71% of Stride worth $204,455,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Sierra Summit Advisors LLC boosted its stake in Stride by 15.1% during the 1st quarter. Sierra Summit Advisors LLC now owns 6,276 shares of the company's stock worth $794,000 after acquiring an additional 824 shares during the last quarter. Cynosure Group LLC boosted its stake in Stride by 8.6% during the 1st quarter. Cynosure Group LLC now owns 2,937 shares of the company's stock worth $372,000 after acquiring an additional 233 shares during the last quarter. Townsquare Capital LLC boosted its stake in Stride by 42.1% during the 1st quarter. Townsquare Capital LLC now owns 47,365 shares of the company's stock worth $5,992,000 after acquiring an additional 14,037 shares during the last quarter. Rezny Wealth Management Inc. bought a new position in Stride during the 1st quarter worth approximately $1,780,000. Finally, National Bank of Canada FI bought a new position in Stride during the 1st quarter worth approximately $123,000. Institutional investors own 98.24% of the company's stock.

Stride Stock Up 2.2%

Shares of NYSE LRN traded up $3.39 during midday trading on Friday, reaching $160.47. The company's stock had a trading volume of 548,394 shares, compared to its average volume of 765,831. The company has a current ratio of 5.39, a quick ratio of 5.27 and a debt-to-equity ratio of 0.31. Stride, Inc. has a fifty-two week low of $63.25 and a fifty-two week high of $162.30. The stock has a market capitalization of $7.00 billion, a price-to-earnings ratio of 26.66, a PEG ratio of 0.92 and a beta of 0.10. The stock has a 50 day simple moving average of $139.62 and a 200-day simple moving average of $138.96.

Stride (NYSE:LRN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.83 by $0.46. Stride had a net margin of 11.97% and a return on equity of 25.51%. The company had revenue of $653.65 million for the quarter, compared to the consensus estimate of $626.23 million. During the same period last year, the company earned $1.42 earnings per share. The firm's revenue was up 22.4% compared to the same quarter last year. Equities research analysts predict that Stride, Inc. will post 6.67 earnings per share for the current year.

Analyst Ratings Changes

LRN has been the topic of several recent analyst reports. Barrington Research reissued an "outperform" rating and set a $170.00 price objective on shares of Stride in a research note on Thursday, July 24th. Wall Street Zen upgraded shares of Stride from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. William Blair restated an "outperform" rating on shares of Stride in a report on Wednesday, April 30th. Morgan Stanley raised their target price on shares of Stride from $148.00 to $159.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Finally, Canaccord Genuity Group raised their target price on shares of Stride from $145.00 to $155.00 and gave the stock a "buy" rating in a report on Monday, April 28th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $143.40.

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.