Stride, Inc. (NYSE:LRN) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lessened its stake in Stride, Inc. (NYSE:LRN - Free Report) by 4.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 498,594 shares of the company's stock after selling 21,769 shares during the period. Charles Schwab Investment Management Inc. owned about 1.15% of Stride worth $63,072,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC increased its holdings in Stride by 333.3% in the 1st quarter. Larson Financial Group LLC now owns 208 shares of the company's stock valued at $26,000 after purchasing an additional 160 shares during the last quarter. First Horizon Advisors Inc. boosted its position in Stride by 140.5% in the 1st quarter. First Horizon Advisors Inc. now owns 267 shares of the company's stock valued at $34,000 after buying an additional 156 shares during the period. Harbour Investments Inc. boosted its position in Stride by 374.6% in the 1st quarter. Harbour Investments Inc. now owns 337 shares of the company's stock valued at $43,000 after buying an additional 266 shares during the period. Fifth Third Bancorp boosted its position in Stride by 158.8% in the 1st quarter. Fifth Third Bancorp now owns 383 shares of the company's stock valued at $48,000 after buying an additional 235 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new position in Stride in the 4th quarter valued at approximately $41,000. Institutional investors and hedge funds own 98.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. BMO Capital Markets reissued an "outperform" rating on shares of Stride in a research report on Thursday, May 1st. Morgan Stanley raised their price target on shares of Stride from $148.00 to $159.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. William Blair reissued an "outperform" rating on shares of Stride in a research report on Wednesday, April 30th. Barrington Research reissued an "outperform" rating and issued a $170.00 price target on shares of Stride in a research report on Thursday, July 24th. Finally, Canaccord Genuity Group lifted their price target on shares of Stride from $145.00 to $155.00 and gave the stock a "buy" rating in a research note on Monday, April 28th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $143.40.

Stride Price Performance

Stride stock opened at $157.23 on Friday. The stock has a market cap of $6.86 billion, a P/E ratio of 26.12, a price-to-earnings-growth ratio of 0.93 and a beta of 0.10. The company has a fifty day simple moving average of $139.32 and a 200-day simple moving average of $138.69. Stride, Inc. has a 12-month low of $63.25 and a 12-month high of $162.30. 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 (NYSE:LRN - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.46. The business had revenue of $653.65 million during the quarter, compared to analysts' expectations of $626.23 million. Stride had a net margin of 11.97% and a return on equity of 25.51%. The company's revenue for the quarter was up 22.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.42 EPS. Equities analysts expect that Stride, Inc. will post 6.67 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.