Vanguard Group Inc. Has $317.09 Million Holdings in Stride, Inc. $LRN

Key Points

• Vanguard Group increased its stake in Stride by 7.5% to 4,883,571 shares, now owning 11.13% of the company valued at $317.09 million.
• Analysts have a consensus rating of Hold (two Buys and four Holds) with a consensus target price of $109.75.
• Stride slightly beat quarterly EPS estimates ($2.30 vs. $2.21) with revenue essentially in line at $629.87M, and shows strong profitability (ROE 25.2%, net margin 12.15%).

Vanguard Group Inc. raised its position in shares of Stride, Inc. (NYSE:LRN - Free Report) by 7.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,883,571 shares of the company's stock after purchasing an additional 340,838 shares during the period. Vanguard Group Inc. owned 11.13% of Stride worth $317,090,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Retirement Planning Co of New England Inc. purchased a new stake in shares of Stride during the 4th quarter worth about $333,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Stride by 13.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,488 shares of the company's stock worth $1,915,000 after purchasing an additional 3,581 shares in the last quarter. Moran Wealth Management LLC raised its stake in shares of Stride by 14.7% during the 4th quarter. Moran Wealth Management LLC now owns 8,860 shares of the company's stock worth $575,000 after purchasing an additional 1,138 shares in the last quarter. Merit Financial Group LLC raised its stake in shares of Stride by 35.3% during the 4th quarter. Merit Financial Group LLC now owns 40,383 shares of the company's stock worth $2,622,000 after purchasing an additional 10,541 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its stake in shares of Stride by 39.8% during the 4th quarter. State of Alaska Department of Revenue now owns 30,281 shares of the company's stock worth $1,965,000 after purchasing an additional 8,619 shares in the last quarter. 98.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Canaccord Genuity Group reaffirmed a "buy" rating and set a $125.00 price target on shares of Stride in a research note on Wednesday, January 28th. Weiss Ratings reissued a "hold (c)" rating on shares of Stride in a research note on Friday, April 10th. Wall Street Zen downgraded Stride from a "buy" rating to a "hold" rating in a research note on Saturday, January 31st. Barrington Research reissued an "outperform" rating and issued a $125.00 price objective on shares of Stride in a research note on Thursday, April 16th. Finally, BMO Capital Markets reissued a "market perform" rating on shares of Stride in a research note on Tuesday, March 3rd. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $109.75.

Stride Stock Performance

Shares of NYSE LRN opened at $91.85 on Friday. The company has a quick ratio of 6.14, a current ratio of 6.21 and a debt-to-equity ratio of 0.29. The business's 50 day moving average is $89.99 and its two-hundred day moving average is $81.60. The company has a market cap of $3.91 billion, a P/E ratio of 14.18, a P/E/G ratio of 0.57 and a beta of 0.13. Stride, Inc. has a 12 month low of $60.61 and a 12 month high of $171.17.

Stride (NYSE:LRN - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.21 by $0.09. The company had revenue of $629.87 million for the quarter, compared to the consensus estimate of $629.69 million. Stride had a return on equity of 25.20% and a net margin of 12.15%.The company's revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.02 EPS. On average, equities analysts expect that Stride, Inc. will post 8.15 EPS for the current year.

About Stride

Stride, Inc NYSE: LRN is a technology-driven education company that designs and delivers online learning solutions for students and adult learners. Through long-term partnerships with state-authorized public school districts, Stride operates virtual academies that serve K-12 students across the United States. The company's blended-learning model combines digital curriculum, live teaching support and data analytics to personalize instruction and monitor student progress.

In addition to its K-12 offerings, Stride provides a portfolio of career and workforce readiness programs under its Stride Career Prep division.

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