Teacher Retirement System of Texas Decreases Position in Stride, Inc. (NYSE:LRN)

Teacher Retirement System of Texas cut its holdings in Stride, Inc. (NYSE:LRN - Free Report) by 31.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,553 shares of the company's stock after selling 8,690 shares during the quarter. Teacher Retirement System of Texas' holdings in Stride were worth $2,347,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. raised its holdings in Stride by 140.5% in the first quarter. First Horizon Advisors Inc. now owns 267 shares of the company's stock worth $34,000 after purchasing an additional 156 shares in the last quarter. Keybank National Association OH increased its holdings in Stride by 65.8% in the 1st quarter. Keybank National Association OH now owns 6,413 shares of the company's stock worth $811,000 after buying an additional 2,544 shares during the period. DAVENPORT & Co LLC acquired a new position in Stride in the 1st quarter worth approximately $461,000. Koshinski Asset Management Inc. increased its holdings in Stride by 49.8% in the 1st quarter. Koshinski Asset Management Inc. now owns 4,394 shares of the company's stock worth $556,000 after buying an additional 1,460 shares during the period. Finally, Canandaigua National Bank & Trust Co. purchased a new stake in Stride in the 1st quarter worth approximately $273,000. 98.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LRN has been the topic of several recent research reports. Wall Street Zen upgraded Stride from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Barrington Research increased their price objective on Stride from $150.00 to $170.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Stride in a research note on Thursday, May 1st. Canaccord Genuity Group raised their target price on Stride from $145.00 to $155.00 and gave the stock a "buy" rating in a research note on Monday, April 28th. Finally, William Blair reissued an "outperform" rating on shares of Stride 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 stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $126.83.

Stride Trading Down 1.2%

Stride stock traded down $1.68 during midday trading on Friday, reaching $134.24. 560,279 shares of the stock traded hands, compared to its average volume of 863,533. The company has a 50-day simple moving average of $147.18 and a two-hundred day simple moving average of $134.48. Stride, Inc. has a 12-month low of $63.25 and a 12-month high of $162.30. The firm has a market cap of $5.84 billion, a PE ratio of 20.94, a price-to-earnings-growth ratio of 0.87 and a beta of 0.32. The company has a current ratio of 5.61, a quick ratio of 5.53 and a debt-to-equity ratio of 0.33.

Stride (NYSE:LRN - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $2.02 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business's quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.60 EPS. Research analysts expect that Stride, Inc. will post 6.67 earnings per share 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.