Palisade Capital Management LP Has $25.32 Million Position in Stride, Inc. (NYSE:LRN)

Palisade Capital Management LP trimmed its holdings in shares of Stride, Inc. (NYSE:LRN - Free Report) by 31.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 200,191 shares of the company's stock after selling 90,741 shares during the quarter. Palisade Capital Management LP owned 0.46% of Stride worth $25,324,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. First Horizon Advisors Inc. increased its holdings in Stride by 140.5% in the 1st quarter. First Horizon Advisors Inc. now owns 267 shares of the company's stock valued at $34,000 after purchasing an additional 156 shares during the last quarter. Fifth Third Bancorp grew its position in Stride by 158.8% in the 1st quarter. Fifth Third Bancorp now owns 383 shares of the company's stock valued at $48,000 after acquiring an additional 235 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake 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 during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Stride in the fourth quarter valued at $41,000. Finally, Golden State Wealth Management LLC raised its position in Stride by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 400 shares of the company's stock valued at $51,000 after purchasing an additional 200 shares in the last quarter. 98.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Wall Street Zen upgraded shares of Stride from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. 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 research report on Thursday, May 1st. Canaccord Genuity Group increased 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. Finally, Barrington Research upped their target price on Stride from $150.00 to $170.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Stride has a consensus rating of "Moderate Buy" and a consensus target price of $126.83.

Stride Trading Down 0.2%

NYSE:LRN traded down $0.22 on Friday, hitting $137.40. 271,137 shares of the stock were exchanged, compared to its average volume of 860,117. The company's 50-day moving average price is $148.28 and its 200 day moving average price is $133.21. The stock has a market capitalization of $5.98 billion, a price-to-earnings ratio of 21.44, a P/E/G ratio of 0.89 and a beta of 0.32. The company has a debt-to-equity ratio of 0.33, a quick ratio of 5.53 and a current ratio of 5.61. Stride, Inc. has a 52 week low of $63.25 and a 52 week high of $162.30.

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

Stride 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.