Frontier Capital Management Co. LLC Sells 43,342 Shares of Stride, Inc. (NYSE:LRN)

Frontier Capital Management Co. LLC lowered its stake in Stride, Inc. (NYSE:LRN - Free Report) by 56.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,445 shares of the company's stock after selling 43,342 shares during the period. Frontier Capital Management Co. LLC owned approximately 0.08% of Stride worth $3,476,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Clark Capital Management Group Inc. lifted its holdings in shares of Stride by 7.0% in the 4th quarter. Clark Capital Management Group Inc. now owns 24,425 shares of the company's stock worth $2,538,000 after acquiring an additional 1,604 shares during the last quarter. Deutsche Bank AG raised its position in Stride by 2.3% in the 4th quarter. Deutsche Bank AG now owns 559,865 shares of the company's stock worth $58,187,000 after purchasing an additional 12,548 shares during the period. Corton Capital Inc. bought a new stake in Stride in the fourth quarter worth about $201,000. Crestline Management LP bought a new stake in Stride in the fourth quarter worth about $307,000. Finally, Cubist Systematic Strategies LLC boosted its position in shares of Stride by 97.1% during the fourth quarter. Cubist Systematic Strategies LLC now owns 232,973 shares of the company's stock valued at $24,213,000 after buying an additional 114,788 shares during the period. 98.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LRN has been the topic of several recent analyst reports. Barrington Research increased their price target on Stride from $150.00 to $170.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. BMO Capital Markets reiterated an "outperform" rating on shares of Stride in a research note on Thursday, May 1st. Canaccord Genuity Group lifted 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. Finally, William Blair restated an "outperform" rating on shares of Stride in a report on Wednesday, April 30th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $126.83.

Stride Stock Up 3.0%

Shares of LRN traded up $4.47 during mid-day trading on Tuesday, hitting $153.77. The company's stock had a trading volume of 946,634 shares, compared to its average volume of 838,763. The firm has a market capitalization of $6.69 billion, a price-to-earnings ratio of 25.67, a PEG ratio of 1.04 and a beta of 0.36. The company's 50-day moving average is $134.39 and its 200-day moving average is $121.78. 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 $162.30.

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 company had revenue of $613.38 million during the quarter, compared to analysts' expectations of $591.15 million. Stride had a net margin of 12.30% and a return on equity of 22.42%. The company's revenue was up 17.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.60 earnings per share. On average, equities research analysts forecast that Stride, Inc. will post 6.67 EPS for the current fiscal 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.