Squarepoint Ops LLC Buys 83,898 Shares of Stride, Inc. (NYSE:LRN)

Squarepoint Ops LLC lifted its position in shares of Stride, Inc. (NYSE:LRN - Free Report) by 165.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 134,598 shares of the company's stock after buying an additional 83,898 shares during the quarter. Squarepoint Ops LLC owned approximately 0.31% of Stride worth $13,989,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. R Squared Ltd acquired a new stake in Stride in the 4th quarter valued at $37,000. CIBC Private Wealth Group LLC lifted 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 worth $42,000 after purchasing an additional 178 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Stride during the fourth quarter worth $41,000. Covestor Ltd lifted its position in shares of Stride by 51.6% during the fourth quarter. Covestor Ltd now owns 632 shares of the company's stock worth $66,000 after purchasing an additional 215 shares in the last quarter. Finally, Gen Wealth Partners Inc acquired a new position in shares of Stride during the fourth quarter worth $75,000. 98.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LRN. William Blair restated an "outperform" rating on shares of Stride in a research note on Wednesday, April 30th. Barrington Research upped their price target on shares of Stride from $150.00 to $170.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Canaccord Genuity Group lifted their price target on Stride from $145.00 to $155.00 and gave the company a "buy" rating in a report on Monday, April 28th. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Stride in a report on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $126.83.

Stride Price Performance

NYSE LRN traded down $0.86 on Wednesday, hitting $152.54. 109,216 shares of the company were exchanged, compared to its average volume of 839,510. Stride, Inc. has a 1-year low of $63.25 and a 1-year high of $162.30. The firm has a 50 day moving average of $141.13 and a two-hundred day moving average of $125.92. The company has a market cap of $6.64 billion, a P/E ratio of 25.47, a P/E/G ratio of 1.04 and a beta of 0.36. The company has a current ratio of 6.02, a quick ratio of 5.93 and a debt-to-equity ratio of 0.35.

Stride (NYSE:LRN - Get Free Report) last released its earnings results 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 net margin of 12.30% and a return on equity of 22.42%. The business had revenue of $613.38 million for the quarter, compared to analyst estimates of $591.15 million. During the same quarter in the previous year, the company posted $1.60 earnings per share. The business's revenue for the quarter was up 17.8% on a year-over-year basis. On average, equities analysts predict that Stride, Inc. will post 6.67 EPS 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.