Oppenheimer & Co. Inc. Invests $660,000 in Stride, Inc. (NYSE:LRN)

Oppenheimer & Co. Inc. bought a new stake in Stride, Inc. (NYSE:LRN - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,216 shares of the company's stock, valued at approximately $660,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fifth Third Bancorp boosted its stake in shares of Stride by 158.8% in the first quarter. Fifth Third Bancorp now owns 383 shares of the company's stock valued at $48,000 after purchasing an additional 235 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in Stride by 85.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 386 shares of the company's stock worth $42,000 after buying an additional 178 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in Stride in the 4th quarter valued at approximately $41,000. Covestor Ltd grew its stake in shares of Stride by 51.6% in the fourth quarter. Covestor Ltd now owns 632 shares of the company's stock worth $66,000 after acquiring an additional 215 shares in the last quarter. Finally, Gen Wealth Partners Inc acquired a new position in shares of Stride in the fourth quarter worth $75,000. Hedge funds and other institutional investors own 98.24% of the company's stock.

Stride Stock Down 2.9%

Shares of LRN traded down $4.06 during mid-day trading on Wednesday, reaching $137.49. The company's stock had a trading volume of 1,314,861 shares, compared to its average volume of 859,884. 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, Inc. has a 12-month low of $63.25 and a 12-month high of $162.30. The stock has a market cap of $5.98 billion, a PE ratio of 21.45, a price-to-earnings-growth ratio of 0.91 and a beta of 0.32. The company's 50 day moving average is $148.44 and its 200 day moving average is $132.78.

Stride (NYSE:LRN - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $2.02 EPS for the quarter, missing the consensus estimate of $2.09 by ($0.07). The company had revenue of $613.38 million during the quarter, compared to analysts' expectations of $591.15 million. Stride had a net margin of 13.10% and a return on equity of 23.36%. The business's revenue for the quarter was up 17.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.60 earnings per share. Equities analysts anticipate that Stride, Inc. will post 6.67 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. William Blair reiterated an "outperform" rating on shares of Stride in a research note on Wednesday, April 30th. BMO Capital Markets restated an "outperform" rating on shares of Stride in a report on Thursday, May 1st. Canaccord Genuity Group lifted their price objective on Stride from $145.00 to $155.00 and gave the company a "buy" rating in a research note on Monday, April 28th. Barrington Research boosted their price objective on Stride from $150.00 to $170.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Finally, Wall Street Zen raised shares of Stride from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Stride currently has a consensus rating of "Moderate Buy" and a consensus target price of $126.83.

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.