Perpetual Ltd Purchases Shares of 21,371 Stride, Inc. (NYSE:LRN)

Perpetual Ltd bought a new position in shares of Stride, Inc. (NYSE:LRN - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 21,371 shares of the company's stock, valued at approximately $2,703,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Truist Financial Corp acquired a new stake in shares of Stride in the fourth quarter valued at about $302,000. Handelsbanken Fonder AB boosted its holdings in Stride by 33.8% in the fourth quarter. Handelsbanken Fonder AB now owns 10,300 shares of the company's stock valued at $1,070,000 after acquiring an additional 2,600 shares during the last quarter. Los Angeles Capital Management LLC increased its position in Stride by 208.7% during the 4th quarter. Los Angeles Capital Management LLC now owns 46,891 shares of the company's stock valued at $4,873,000 after purchasing an additional 31,701 shares during the period. Illinois Municipal Retirement Fund increased its position in Stride by 3.7% during the 4th quarter. Illinois Municipal Retirement Fund now owns 22,747 shares of the company's stock valued at $2,364,000 after purchasing an additional 807 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its holdings in Stride by 1.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 10,074 shares of the company's stock worth $1,047,000 after purchasing an additional 100 shares during the last quarter. 98.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on LRN. William Blair reaffirmed 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. Wall Street Zen upgraded Stride from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Barrington Research lifted 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, Canaccord Genuity Group boosted 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. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $126.83.

Stride Stock Down 2.3%

NYSE LRN traded down $3.34 on Tuesday, hitting $141.85. 653,734 shares of the company were exchanged, compared to its average volume of 855,571. The company has a current ratio of 5.61, a quick ratio of 5.53 and a debt-to-equity ratio of 0.33. The company has a market cap of $6.17 billion, a PE ratio of 22.13, a PEG ratio of 1.02 and a beta of 0.32. The stock has a fifty day moving average of $148.44 and a 200-day moving average of $132.78. Stride, Inc. has a 12 month low of $63.25 and a 12 month high of $162.30.

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 return on equity of 23.36% and a net margin of 13.10%. The company had revenue of $613.38 million for the quarter, compared to the consensus estimate of $591.15 million. During the same period last year, the company earned $1.60 EPS. Stride's revenue for the quarter was up 17.8% compared to the same quarter last year. As a group, analysts forecast 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.