Oppenheimer Asset Management Inc. Acquires New Holdings in Stride, Inc. (NYSE:LRN)

Oppenheimer Asset Management Inc. bought a new position in shares of Stride, Inc. (NYSE:LRN - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 13,043 shares of the company's stock, valued at approximately $1,650,000.

Several other large investors have also made changes to their positions in the business. Aigen Investment Management LP acquired a new stake in Stride in the 4th quarter worth about $995,000. Truist Financial Corp purchased a new position in shares of Stride in the fourth quarter valued at approximately $302,000. GAMMA Investing LLC boosted its stake in shares of Stride by 14,892.4% in the first quarter. GAMMA Investing LLC now owns 370,013 shares of the company's stock worth $46,807,000 after acquiring an additional 367,545 shares during the last quarter. Kendall Capital Management boosted its stake in shares of Stride by 24.4% in the fourth quarter. Kendall Capital Management now owns 23,135 shares of the company's stock worth $2,404,000 after acquiring an additional 4,545 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Stride by 120.6% during the fourth quarter. Wellington Management Group LLP now owns 607,581 shares of the company's stock worth $63,146,000 after purchasing an additional 332,098 shares in the last quarter. 98.24% of the stock is owned by institutional investors and hedge funds.

Stride Trading Up 1.9%

Shares of LRN traded up $2.76 during mid-day trading on Friday, reaching $145.53. The stock had a trading volume of 681,192 shares, compared to its average volume of 856,181. Stride, Inc. has a 52-week low of $63.25 and a 52-week high of $162.30. The firm has a market cap of $6.33 billion, a price-to-earnings ratio of 22.70, a P/E/G ratio of 1.03 and a beta of 0.35. The business's fifty day moving average is $148.13 and its 200 day moving average is $132.27. The company has a debt-to-equity ratio of 0.33, a current ratio of 5.61 and a quick ratio of 5.53.

Stride (NYSE:LRN - Get Free Report) last announced its quarterly earnings results 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). The firm had revenue of $613.38 million for the quarter, compared to analyst estimates of $591.15 million. Stride had a return on equity of 23.36% and a net margin of 13.10%. The firm's quarterly revenue was up 17.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.60 EPS. On average, sell-side analysts predict that Stride, Inc. will post 6.67 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on LRN shares. William Blair restated an "outperform" rating on shares of Stride in a report on Wednesday, April 30th. Barrington Research increased their target price on shares of Stride from $150.00 to $170.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. BMO Capital Markets restated an "outperform" rating on shares of Stride in a research report on Thursday, May 1st. Wall Street Zen raised shares of Stride from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. 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 research note on Monday, April 28th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average 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.