Millennium Management LLC Has $27.31 Million Holdings in Stride, Inc. (NYSE:LRN)

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

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Stride by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 4,673,393 shares of the company's stock valued at $485,706,000 after acquiring an additional 69,888 shares during the last quarter. William Blair Investment Management LLC grew its position in shares of Stride by 18.0% during the fourth quarter. William Blair Investment Management LLC now owns 2,467,019 shares of the company's stock worth $256,397,000 after purchasing an additional 375,686 shares in the last quarter. Janus Henderson Group PLC grew its stake in Stride by 27.6% during the 4th quarter. Janus Henderson Group PLC now owns 1,493,709 shares of the company's stock valued at $155,251,000 after purchasing an additional 323,275 shares during the last quarter. Geode Capital Management LLC lifted its position in Stride by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 970,395 shares of the company's stock worth $100,877,000 after buying an additional 5,694 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Stride by 293.1% during the 4th quarter. Principal Financial Group Inc. now owns 866,182 shares of the company's stock valued at $90,024,000 after acquiring an additional 645,835 shares in the last quarter. 98.24% of the stock is currently owned by hedge funds and other institutional investors.

Stride Stock Down 0.9%

NYSE LRN traded down $1.36 during mid-day trading on Friday, reaching $153.03. 716,824 shares of the company's stock traded hands, compared to its average volume of 842,944. The company has a market cap of $6.66 billion, a price-to-earnings ratio of 25.55, a P/E/G 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. The company has a fifty day simple moving average of $139.89 and a 200-day simple moving average of $125.37. Stride, Inc. has a 1-year low of $63.25 and a 1-year high of $162.30.

Stride (NYSE:LRN - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $2.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.09 by ($0.07). Stride had a return on equity of 22.42% and a net margin of 12.30%. The company had revenue of $613.38 million for the quarter, compared to analyst estimates of $591.15 million. During the same quarter in the previous year, the firm posted $1.60 EPS. Stride's quarterly revenue was up 17.8% on a year-over-year basis. As a group, equities research analysts expect that Stride, Inc. will post 6.67 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on LRN. Barrington Research increased their target price on Stride from $150.00 to $170.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. William Blair reiterated an "outperform" rating on shares of Stride in a report on Wednesday, April 30th. Canaccord Genuity Group lifted their price target on shares of Stride from $145.00 to $155.00 and gave the company a "buy" rating in a research report on Monday, April 28th. Finally, BMO Capital Markets restated an "outperform" rating on shares of Stride in a report on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Stride currently has an average rating of "Moderate Buy" and a consensus target price 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.