Millennium Management LLC Sells 20,316,053 Shares of Stride, Inc. (NYSE:LRN)

Millennium Management LLC trimmed its position in Stride, Inc. (NYSE:LRN - Free Report) by 98.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 262,791 shares of the company's stock after selling 20,316,053 shares during the period. Millennium Management LLC owned 0.60% of Stride worth $27,312,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of LRN. Principal Financial Group Inc. lifted its holdings in shares of Stride by 293.1% during the 4th quarter. Principal Financial Group Inc. now owns 866,182 shares of the company's stock worth $90,024,000 after acquiring an additional 645,835 shares during the last quarter. Norges Bank bought a new stake in shares of Stride during the 4th quarter worth $45,306,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Stride by 783.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 453,139 shares of the company's stock worth $47,095,000 after acquiring an additional 401,838 shares during the last quarter. William Blair Investment Management LLC lifted its holdings in shares of Stride by 18.0% during the 4th quarter. William Blair Investment Management LLC now owns 2,467,019 shares of the company's stock worth $256,397,000 after acquiring an additional 375,686 shares during the last quarter. Finally, Cat Rock Capital Management LP bought a new stake in shares of Stride during the 4th quarter worth $36,694,000. 98.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on LRN. Barrington Research lifted their price objective on shares of Stride from $150.00 to $170.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. William Blair reiterated an "outperform" rating on shares of Stride in a research report on Wednesday, April 30th. Canaccord Genuity Group lifted their target price on shares of Stride from $145.00 to $155.00 and gave the stock a "buy" rating in a research report on Monday, April 28th. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Stride in a research report on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $126.83.

Stride Price Performance

LRN stock opened at $156.59 on Tuesday. The firm's 50-day moving average price is $137.10 and its two-hundred day moving average price is $123.73. Stride, Inc. has a 12-month low of $63.25 and a 12-month high of $162.30. The stock has a market capitalization of $6.82 billion, a price-to-earnings ratio of 26.14, a PEG ratio of 1.04 and a beta of 0.36. The company has a current ratio of 6.02, a quick ratio of 5.93 and a debt-to-equity ratio of 0.35.

Stride (NYSE:LRN - Get Free Report) last released its quarterly earnings data 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). Stride had a net margin of 12.30% and a return on equity of 22.42%. The firm had revenue of $613.38 million during the quarter, compared to analysts' expectations of $591.15 million. During the same quarter in the previous year, the firm posted $1.60 EPS. Stride's revenue was up 17.8% compared to the same quarter last year. As a group, equities analysts predict that Stride, Inc. will post 6.67 earnings per share for the current 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.

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