Stride, Inc. (NYSE:LRN) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lowered its holdings in shares of Stride, Inc. (NYSE:LRN - Free Report) by 31.9% during the 1st quarter, according to its most recent 13F 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 period. Teacher Retirement System of Texas' holdings in Stride were worth $2,347,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. First Horizon Advisors Inc. raised its holdings in shares of Stride by 140.5% in the 1st 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. Fifth Third Bancorp boosted its stake in shares of Stride by 158.8% during the 1st quarter. Fifth Third Bancorp now owns 383 shares of the company's stock worth $48,000 after acquiring an additional 235 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in shares of Stride by 85.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 386 shares of the company's stock worth $42,000 after acquiring an additional 178 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Stride during the 4th quarter worth $41,000. Finally, Golden State Wealth Management LLC boosted its stake in shares of Stride by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 400 shares of the company's stock worth $51,000 after acquiring an additional 200 shares in the last quarter. 98.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on LRN shares. Canaccord Genuity Group increased their target price on Stride from $145.00 to $155.00 and gave the company a "buy" rating in a report on Monday, April 28th. William Blair reaffirmed an "outperform" rating on shares of Stride in a research note on Wednesday, April 30th. Wall Street Zen upgraded shares of Stride from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Barrington Research increased their target price 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. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Stride in a research note on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $126.83.

Stride Stock Down 0.0%

Shares of NYSE LRN opened at $136.21 on Thursday. Stride, Inc. has a 1 year low of $63.25 and a 1 year high of $162.30. The company has a current ratio of 5.61, a quick ratio of 5.53 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $5.93 billion, a PE ratio of 21.25, a price-to-earnings-growth ratio of 0.88 and a beta of 0.32. The firm's 50-day moving average is $147.97 and its 200-day moving average is $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 for the quarter, compared to the consensus estimate of $591.15 million. Stride had a return on equity of 23.36% and a net margin of 13.10%. The company's revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period last year, the firm earned $1.60 earnings per share. Equities analysts expect that Stride, Inc. will post 6.67 EPS for the current 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.

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