Stride, Inc. (NYSE:LRN) Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC increased its stake in Stride, Inc. (NYSE:LRN - Free Report) by 692.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 48,119 shares of the company's stock after acquiring an additional 42,049 shares during the quarter. Hsbc Holdings PLC owned about 0.11% of Stride worth $5,043,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of LRN. Principal Financial Group Inc. boosted its stake in Stride by 293.1% during the fourth quarter. Principal Financial Group Inc. now owns 866,182 shares of the company's stock worth $90,024,000 after acquiring an additional 645,835 shares in the last quarter. Norges Bank acquired a new position in shares of Stride during the fourth quarter worth approximately $45,306,000. Arrowstreet Capital Limited Partnership grew its position in Stride by 783.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 453,139 shares of the company's stock valued at $47,095,000 after purchasing an additional 401,838 shares during the period. William Blair Investment Management LLC increased its stake in Stride by 18.0% during the 4th quarter. William Blair Investment Management LLC now owns 2,467,019 shares of the company's stock valued at $256,397,000 after purchasing an additional 375,686 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in Stride by 120.6% during the fourth quarter. Wellington Management Group LLP now owns 607,581 shares of the company's stock worth $63,146,000 after buying an additional 332,098 shares during the last quarter. Institutional investors own 98.24% of the company's stock.

Stride Stock Up 5.8 %

Shares of Stride stock traded up $8.73 during trading on Friday, hitting $159.43. 1,265,805 shares of the stock traded hands, compared to its average volume of 834,296. The company has a current ratio of 6.02, a quick ratio of 5.93 and a debt-to-equity ratio of 0.35. Stride, Inc. has a 52-week low of $63.25 and a 52-week high of $161.60. The stock's fifty day simple moving average is $131.19 and its 200 day simple moving average is $116.90. The firm has a market cap of $6.94 billion, a P/E ratio of 26.62, a price-to-earnings-growth ratio of 1.04 and a beta of 0.47.

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

Wall Street Analysts Forecast Growth

LRN has been the topic of a number of research analyst reports. BMO Capital Markets boosted their target price on Stride from $134.00 to $139.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 1st. Canaccord Genuity Group lifted their price objective on Stride from $145.00 to $155.00 and gave the company a "buy" rating in a research note on Monday. William Blair restated an "outperform" rating on shares of Stride in a research report on Wednesday. Finally, Barrington Research raised their price objective on Stride from $150.00 to $170.00 and gave the company an "outperform" rating in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $126.83.

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.