Stride, Inc. (NYSE:LRN) Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP lifted its stake in shares of Stride, Inc. (NYSE:LRN - Free Report) by 120.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 607,581 shares of the company's stock after purchasing an additional 332,098 shares during the quarter. Wellington Management Group LLP owned 1.40% of Stride worth $63,146,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of LRN. Asset Management One Co. Ltd. bought a new stake in shares of Stride during the 4th quarter valued at about $5,696,000. Congress Asset Management Co. lifted its position in shares of Stride by 8.2% during the fourth quarter. Congress Asset Management Co. now owns 578,540 shares of the company's stock valued at $60,128,000 after purchasing an additional 43,829 shares in the last quarter. Aigen Investment Management LP bought a new stake in Stride during the fourth quarter worth $995,000. Truist Financial Corp bought a new stake in shares of Stride during the 4th quarter worth $302,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Stride by 61.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 190,431 shares of the company's stock worth $20,250,000 after purchasing an additional 72,518 shares during the period. Institutional investors own 98.24% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on LRN shares. Canaccord Genuity Group upped their price target on shares of Stride from $145.00 to $155.00 and gave the stock a "buy" rating in a report on Monday, April 28th. Barrington Research lifted their price objective on Stride from $150.00 to $170.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. William Blair reissued an "outperform" rating on shares of Stride in a report on Wednesday, April 30th. Finally, BMO Capital Markets restated an "outperform" rating on shares of Stride in a research report on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $126.83.

Stride Trading Up 1.9%

Shares of LRN traded up $2.83 during trading on Friday, reaching $151.64. 725,289 shares of the company traded hands, compared to its average volume of 843,659. Stride, Inc. has a twelve month low of $63.25 and a twelve month high of $162.30. The company has a quick ratio of 5.93, a current ratio of 6.02 and a debt-to-equity ratio of 0.35. The stock has a 50-day simple moving average of $142.68 and a 200-day simple moving average of $126.75. The stock has a market cap of $6.60 billion, a PE ratio of 25.32, a price-to-earnings-growth ratio of 1.04 and a beta of 0.36.

Stride (NYSE:LRN - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $2.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.09 by ($0.07). The business had revenue of $613.38 million during the quarter, compared to analyst estimates of $591.15 million. Stride had a net margin of 12.30% and a return on equity of 22.42%. The business's revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period last year, the company earned $1.60 earnings per share. On average, analysts anticipate that Stride, Inc. will post 6.67 earnings per share for the current 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.