Balyasny Asset Management L.P. Has $8.76 Million Stake in Stride, Inc. (NYSE:LRN)

Balyasny Asset Management L.P. increased its holdings in Stride, Inc. (NYSE:LRN - Free Report) by 368.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,237 shares of the company's stock after purchasing an additional 66,260 shares during the quarter. Balyasny Asset Management L.P. owned 0.19% of Stride worth $8,755,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Principal Financial Group Inc. raised its stake in Stride by 293.1% during the 4th quarter. Principal Financial Group Inc. now owns 866,182 shares of the company's stock valued at $90,024,000 after purchasing an additional 645,835 shares during the period. Norges Bank acquired a new stake in Stride during the 4th quarter valued at $45,306,000. Arrowstreet Capital Limited Partnership raised its position in Stride by 783.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 453,139 shares of the company's stock valued at $47,095,000 after buying an additional 401,838 shares during the period. William Blair Investment Management LLC raised its position in Stride by 18.0% during 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 buying an additional 375,686 shares during the period. Finally, Wellington Management Group LLP raised its position in Stride by 120.6% during the fourth quarter. Wellington Management Group LLP now owns 607,581 shares of the company's stock valued at $63,146,000 after buying an additional 332,098 shares during the period. Institutional investors own 98.24% of the company's stock.

Stride Stock Performance

LRN stock traded up $4.47 during midday trading on Tuesday, hitting $153.77. 946,634 shares of the company traded hands, compared to its average volume of 838,763. Stride, Inc. has a twelve month low of $63.25 and a twelve month high of $162.30. The business has a 50 day simple moving average of $133.98 and a 200-day simple moving average of $121.56. 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 market capitalization of $6.69 billion, a price-to-earnings ratio of 25.67, a price-to-earnings-growth ratio of 1.04 and a beta of 0.36.

Stride (NYSE:LRN - Get Free Report) last issued its quarterly earnings results 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 during the quarter, compared to analyst estimates of $591.15 million. During the same period in the prior year, the business posted $1.60 earnings per share. The company's revenue for the quarter was up 17.8% compared to the same quarter last year. As a group, equities research analysts predict that Stride, Inc. will post 6.67 earnings per share for the current year.

Analysts Set New Price Targets

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

Stride Company 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.