Stride, Inc. (NYSE:LRN) Stock Position Raised by Lazard Asset Management LLC

Lazard Asset Management LLC grew its position in Stride, Inc. (NYSE:LRN - Free Report) by 13.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 39,356 shares of the company's stock after purchasing an additional 4,552 shares during the period. Lazard Asset Management LLC owned approximately 0.09% of Stride worth $4,089,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Principal Financial Group Inc. grew its holdings in Stride by 293.1% in the 4th quarter. Principal Financial Group Inc. now owns 866,182 shares of the company's stock worth $90,024,000 after buying an additional 645,835 shares in the last quarter. Norges Bank bought a new stake in shares of Stride during the fourth quarter valued at about $45,306,000. Arrowstreet Capital Limited Partnership lifted its holdings in Stride by 783.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 453,139 shares of the company's stock worth $47,095,000 after purchasing an additional 401,838 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 acquiring an additional 375,686 shares in the last quarter. Finally, Cat Rock Capital Management LP acquired a new stake in shares of Stride in the fourth quarter valued at $36,694,000. Institutional investors and hedge funds own 98.24% of the company's stock.

Stride Stock Up 1.4%

Shares of Stride stock traded up $2.09 during midday trading on Monday, hitting $156.59. The company's stock had a trading volume of 791,799 shares, compared to its average volume of 841,243. Stride, Inc. has a 1-year low of $63.25 and a 1-year 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 firm has a market capitalization of $6.82 billion, a P/E ratio of 26.14, a PEG ratio of 1.04 and a beta of 0.36. The stock has a 50-day simple moving average of $136.37 and a 200-day simple moving average of $123.28.

Stride (NYSE:LRN - Get Free Report) last issued its earnings results 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). 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%. Stride's revenue for the quarter was up 17.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.60 EPS. As a group, sell-side analysts expect that Stride, Inc. will post 6.67 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on LRN. William Blair reissued an "outperform" rating on shares of Stride in a report on Wednesday, April 30th. Barrington Research raised their target price on shares of Stride from $150.00 to $170.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. BMO Capital Markets reissued an "outperform" rating on shares of Stride in a research note on Thursday, May 1st. Finally, Canaccord Genuity Group boosted their target price on Stride from $145.00 to $155.00 and gave the stock a "buy" rating in a research report on Monday, April 28th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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.