Frontier Capital Management Co. LLC Reduces Position in Stride, Inc. (NYSE:LRN)

Frontier Capital Management Co. LLC lessened its position in Stride, Inc. (NYSE:LRN - Free Report) by 56.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & 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 0.08% of Stride worth $3,476,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. R Squared Ltd bought a new position in shares of Stride during the fourth quarter worth about $37,000. CIBC Private Wealth Group LLC increased its position in Stride by 85.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 386 shares of the company's stock valued at $42,000 after purchasing an additional 178 shares during the period. Covestor Ltd raised its holdings in Stride by 51.6% during the 4th quarter. Covestor Ltd now owns 632 shares of the company's stock worth $66,000 after purchasing an additional 215 shares during the last quarter. C M Bidwell & Associates Ltd. bought a new position in Stride during the 4th quarter worth approximately $77,000. Finally, Smartleaf Asset Management LLC lifted its position in shares of Stride by 372.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 751 shares of the company's stock worth $79,000 after purchasing an additional 592 shares during the period. Institutional investors own 98.24% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. BMO Capital Markets reiterated an "outperform" rating on shares of Stride in a report on Thursday, May 1st. Barrington Research raised their price objective on Stride from $150.00 to $170.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Canaccord Genuity Group lifted their price objective on shares of Stride from $145.00 to $155.00 and gave the company a "buy" rating in a report on Monday, April 28th. Finally, William Blair reiterated an "outperform" rating on shares of Stride in a report on Wednesday, April 30th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $126.83.

Stride Stock Performance

NYSE LRN traded up $0.56 during trading hours on Thursday, reaching $154.49. 279,493 shares of the company were exchanged, compared to its average volume of 836,671. The stock has a market capitalization of $6.72 billion, a P/E ratio of 25.77, a P/E/G ratio of 1.04 and a beta of 0.36. The company has a quick ratio of 5.93, a current ratio of 6.02 and a debt-to-equity ratio of 0.35. Stride, Inc. has a 1 year low of $63.25 and a 1 year high of $162.30. The business's 50 day simple moving average is $135.00 and its 200-day simple moving average is $122.00.

Stride (NYSE:LRN - Get Free Report) last released 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 company had revenue of $613.38 million for the quarter, compared to the consensus estimate of $591.15 million. Stride had a net margin of 12.30% and a return on equity of 22.42%. The firm's revenue was up 17.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.60 earnings per share. On average, equities research analysts expect that Stride, Inc. will post 6.67 earnings per share for the current 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.