Assetmark Inc. Increases Stake in Stride, Inc. (NYSE:LRN)

Key Points

• Assetmark Inc. increased its stake in Stride, Inc. by 530.9% in the first quarter, acquiring an additional 9,599 shares, bringing its total holdings to 11,407 shares valued at approximately $1.44 million.
• Stride, Inc.'s stock price rose by 0.9% to $129.35, with a 52-week trading range between $63.25 and $162.30 and a market capitalization of $5.63 billion.
• Analysts have positive outlooks for Stride, with multiple firms upgrading their ratings and the consensus target price now sitting at $126.83, indicating a general sentiment of "Moderate Buy."

Assetmark Inc. boosted its holdings in Stride, Inc. (NYSE:LRN - Free Report) by 530.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,407 shares of the company's stock after purchasing an additional 9,599 shares during the quarter. Assetmark Inc.'s holdings in Stride were worth $1,443,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Bosun Asset Management LLC grew its stake in Stride by 1.4% in the 4th quarter. Bosun Asset Management LLC now owns 8,292 shares of the company's stock valued at $862,000 after acquiring an additional 111 shares during the last quarter. First Horizon Advisors Inc. grew 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 acquiring an additional 156 shares during the last quarter. Larson Financial Group LLC grew its stake 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 acquiring an additional 160 shares during the last quarter. CIBC Private Wealth Group LLC grew 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 acquiring an additional 178 shares during the last quarter. Finally, NDVR Inc. grew its stake in Stride by 5.1% in the 4th quarter. NDVR Inc. now owns 3,762 shares of the company's stock valued at $391,000 after acquiring an additional 182 shares during the last quarter. Hedge funds and other institutional investors own 98.24% of the company's stock.

Analyst Upgrades and Downgrades

LRN has been the topic of a number of research reports. Barrington Research reissued an "outperform" rating and issued a $170.00 price objective on shares of Stride in a research note on Thursday, July 24th. BMO Capital Markets reissued an "outperform" rating on shares of Stride in a research note on Thursday, May 1st. Canaccord Genuity Group increased their price objective on shares of Stride from $145.00 to $155.00 and gave the company a "buy" rating in a research note on Monday, April 28th. William Blair reaffirmed an "outperform" rating on shares of Stride in a research note on Wednesday, April 30th. Finally, Wall Street Zen raised shares of Stride from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $126.83.

Stride Trading Up 0.9%

Shares of Stride stock traded up $1.12 during mid-day trading on Friday, hitting $129.35. 518,136 shares of the stock were exchanged, compared to its average volume of 524,845. The stock has a market capitalization of $5.63 billion, a price-to-earnings ratio of 20.18, a price-to-earnings-growth ratio of 0.83 and a beta of 0.10. Stride, Inc. has a twelve month low of $63.25 and a twelve month 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 company has a 50-day simple moving average of $139.80 and a 200 day simple moving average of $136.94.

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.