Stride, Inc. (NYSE:LRN) Holdings Lifted by Deutsche Bank AG

Key Points

• Deutsche Bank AG increased its stake in Stride, Inc. by 10.4% during the first quarter, holding 617,894 shares valued at approximately $78.16 million.
• Stride reported earnings per share of $2.29 for the last quarter, significantly exceeding analysts' estimates of $1.83, with a 22.4% increase in year-over-year revenue.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for Stride, with a price target averaging around $143.40, reflecting positive investor sentiment about the company's growth potential.

Deutsche Bank AG lifted its stake in Stride, Inc. (NYSE:LRN - Free Report) by 10.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 617,894 shares of the company's stock after purchasing an additional 58,029 shares during the quarter. Deutsche Bank AG owned 1.42% of Stride worth $78,164,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of LRN. DAVENPORT & Co LLC purchased a new stake in Stride in the 1st quarter worth about $461,000. Canandaigua National Bank & Trust Co. acquired a new stake in Stride in the 1st quarter valued at approximately $273,000. GAMMA Investing LLC grew its holdings in Stride by 14,892.4% in the 1st quarter. GAMMA Investing LLC now owns 370,013 shares of the company's stock valued at $46,807,000 after buying an additional 367,545 shares during the last quarter. Kestra Private Wealth Services LLC acquired a new stake in shares of Stride during the 1st quarter worth approximately $771,000. Finally, Keybank National Association OH grew its holdings in shares of Stride by 65.8% during the 1st quarter. Keybank National Association OH now owns 6,413 shares of the company's stock worth $811,000 after purchasing an additional 2,544 shares in the last quarter. Institutional investors and hedge funds own 98.24% of the company's stock.

Stride Trading Up 3.9%

NYSE LRN opened at $149.60 on Monday. The stock has a 50-day simple moving average of $138.65 and a 200 day simple moving average of $137.94. The company has a market capitalization of $6.53 billion, a PE ratio of 24.85, a P/E/G ratio of 0.88 and a beta of 0.10. The company has a current ratio of 5.39, a quick ratio of 5.27 and a debt-to-equity ratio of 0.31. 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 posted its earnings results on Tuesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.83 by $0.46. Stride had a return on equity of 25.51% and a net margin of 11.97%. The firm had revenue of $653.65 million during the quarter, compared to analysts' expectations of $626.23 million. During the same period in the previous year, the firm earned $1.42 earnings per share. The company's revenue was up 22.4% on a year-over-year basis. Research analysts forecast that Stride, Inc. will post 6.67 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on LRN shares. Wall Street Zen raised Stride from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. William Blair reaffirmed an "outperform" rating on shares of Stride in a research note on Wednesday, April 30th. Morgan Stanley boosted their price target on Stride from $148.00 to $159.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Barrington Research reaffirmed an "outperform" rating and issued a $170.00 price target on shares of Stride in a research note on Thursday, July 24th. Finally, Canaccord Genuity Group boosted their price target on Stride from $145.00 to $155.00 and gave the company a "buy" rating in a research note on Monday, April 28th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $143.40.

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.

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