Perpetual Ltd Invests $2.70 Million in Stride, Inc. (NYSE:LRN)

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

Several other institutional investors also recently added to or reduced their stakes in the business. Fifth Third Bancorp increased its position in shares of Stride by 158.8% during 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 increased its position in shares of Stride by 85.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 386 shares of the company's stock valued at $42,000 after purchasing an additional 178 shares during the period. Point72 Hong Kong Ltd bought a new stake in shares of Stride during the fourth quarter valued at approximately $41,000. Golden State Wealth Management LLC increased its position in shares of Stride by 100.0% during the first 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 during the period. Finally, Covestor Ltd increased its position in shares of Stride by 51.6% during the fourth quarter. Covestor Ltd now owns 632 shares of the company's stock valued at $66,000 after purchasing an additional 215 shares during the period. 98.24% of the stock is owned by institutional investors.

Stride Price Performance

NYSE:LRN traded up $2.76 during trading hours on Friday, reaching $145.53. The company had a trading volume of 681,192 shares, compared to its average volume of 855,454. The stock has a 50-day moving average of $148.13 and a two-hundred day moving average of $132.09. Stride, Inc. has a one year low of $63.25 and a one year high of $162.30. The firm has a market capitalization of $6.33 billion, a PE ratio of 22.70, a PEG ratio of 1.01 and a beta of 0.35. The company has a quick ratio of 5.53, a current ratio of 5.61 and a debt-to-equity ratio of 0.33.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. 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 report on Monday, April 28th. William Blair restated an "outperform" rating on shares of Stride 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 upgraded Stride from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Finally, Barrington Research upped their price target on Stride from $150.00 to $170.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $126.83.

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.