Principal Financial Group Inc. Sells 31,870 Shares of Stride, Inc. (NYSE:LRN)

Principal Financial Group Inc. cut its stake in shares of Stride, Inc. (NYSE:LRN - Free Report) by 3.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 834,312 shares of the company's stock after selling 31,870 shares during the period. Principal Financial Group Inc. owned 1.92% of Stride worth $105,540,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Mutual of America Capital Management LLC boosted its stake in Stride by 1.5% in the 4th quarter. Mutual of America Capital Management LLC now owns 6,492 shares of the company's stock valued at $675,000 after purchasing an additional 93 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of Stride by 372.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 751 shares of the company's stock valued at $79,000 after acquiring an additional 592 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Stride during the fourth quarter worth about $165,000. Charles Schwab Investment Management Inc. increased its position in Stride by 0.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 520,363 shares of the company's stock worth $54,081,000 after acquiring an additional 1,542 shares during the period. Finally, Assetmark Inc. raised its stake in Stride by 11,953.3% in the 4th quarter. Assetmark Inc. now owns 1,808 shares of the company's stock worth $188,000 after purchasing an additional 1,793 shares in the last quarter. Institutional investors own 98.24% of the company's stock.

Stride Stock Down 0.2%

Shares of NYSE LRN traded down $0.22 during mid-day trading on Friday, reaching $137.40. 271,137 shares of the company's stock traded hands, compared to its average volume of 860,117. Stride, Inc. has a 1-year low of $63.25 and a 1-year high of $162.30. The company has a debt-to-equity ratio of 0.33, a current ratio of 5.61 and a quick ratio of 5.53. The business has a 50-day simple moving average of $148.28 and a 200 day simple moving average of $133.21. The stock has a market cap of $5.98 billion, a P/E ratio of 21.44, a PEG ratio of 0.89 and a beta of 0.32.

Stride (NYSE:LRN - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $2.02 EPS 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 analysts' expectations of $591.15 million. Stride had a net margin of 13.10% and a return on equity of 23.36%. The company's quarterly revenue was up 17.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.60 earnings per share. On average, analysts expect that Stride, Inc. will post 6.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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