Teacher Retirement System of Texas Sells 8,690 Shares of Stride, Inc. (NYSE:LRN)

Teacher Retirement System of Texas decreased its stake in Stride, Inc. (NYSE:LRN - Free Report) by 31.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. First Horizon Advisors Inc. boosted its stake 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 in the last quarter. Point72 Hong Kong Ltd acquired a new stake in Stride in the 4th quarter valued at $41,000. CIBC Private Wealth Group LLC boosted its stake in Stride by 85.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 386 shares of the company's stock valued at $42,000 after buying an additional 178 shares in the last quarter. Fifth Third Bancorp boosted its stake 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 in the last quarter. Finally, Golden State Wealth Management LLC boosted its stake in Stride by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 400 shares of the company's stock valued at $51,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 98.24% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on LRN. Wall Street Zen raised Stride from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Barrington Research boosted their price objective on 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 boosted their price objective on Stride from $145.00 to $155.00 and gave the stock a "buy" rating in a research note on Monday, April 28th. William Blair reissued an "outperform" rating on shares of Stride in a research note on Wednesday, April 30th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Stride in a research note on Thursday, May 1st. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $126.83.

Stride Trading Down 0.2%

Shares of LRN stock traded down $0.26 on Thursday, reaching $136.02. 481,178 shares of the stock were exchanged, compared to its average volume of 859,927. The stock has a market cap of $5.92 billion, a PE ratio of 21.22, a P/E/G ratio of 0.88 and a beta of 0.32. Stride, Inc. has a one year low of $63.25 and a one 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 stock has a 50 day moving average price of $147.97 and a 200 day moving average price of $133.86.

Stride (NYSE:LRN - Get Free Report) last released its quarterly earnings data 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 the consensus estimate of $591.15 million. Stride had a net margin of 13.10% and a return on equity of 23.36%. The company's revenue for the quarter was up 17.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.60 EPS. Equities research analysts forecast that Stride, Inc. will post 6.67 EPS for the current fiscal year.

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.