NewEdge Advisors LLC Grows Position in Stride, Inc. (NYSE:LRN)

NewEdge Advisors LLC raised its position in Stride, Inc. (NYSE:LRN - Free Report) by 4,870.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,833 shares of the company's stock after purchasing an additional 2,776 shares during the quarter. NewEdge Advisors LLC's holdings in Stride were worth $294,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Stride by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 4,673,393 shares of the company's stock worth $485,706,000 after buying an additional 69,888 shares during the period. William Blair Investment Management LLC boosted its holdings in shares of Stride by 18.0% in the fourth 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 during the period. Geode Capital Management LLC grew its stake in Stride by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 970,395 shares of the company's stock worth $100,877,000 after purchasing an additional 5,694 shares in the last quarter. Principal Financial Group Inc. grew its stake in Stride by 293.1% in the fourth quarter. Principal Financial Group Inc. now owns 866,182 shares of the company's stock worth $90,024,000 after purchasing an additional 645,835 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in Stride by 120.6% during the 4th quarter. Wellington Management Group LLP now owns 607,581 shares of the company's stock valued at $63,146,000 after purchasing an additional 332,098 shares in the last quarter. Institutional investors own 98.24% of the company's stock.

Analyst Ratings Changes

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

Stride Trading Down 0.2 %

NYSE LRN opened at $142.24 on Thursday. The firm has a market cap of $6.19 billion, a PE ratio of 23.75, a price-to-earnings-growth ratio of 1.04 and a beta of 0.47. Stride, Inc. has a 52 week low of $63.25 and a 52 week high of $148.03. 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 company has a 50 day moving average price of $130.86 and a 200 day moving average price of $116.35.

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