Voya Investment Management LLC Lowers Stake in Stride, Inc. (NYSE:LRN)

Voya Investment Management LLC reduced its stake in shares of Stride, Inc. (NYSE:LRN - Free Report) by 99.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 23,163 shares of the company's stock after selling 10,568,970 shares during the period. Voya Investment Management LLC owned approximately 0.05% of Stride worth $2,407,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. R Squared Ltd bought a new position in shares of Stride during the 4th quarter valued at about $37,000. CIBC Private Wealth Group LLC increased its stake in Stride by 85.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 386 shares of the company's stock worth $42,000 after purchasing an additional 178 shares during the period. Covestor Ltd boosted its position in Stride by 51.6% during the 4th quarter. Covestor Ltd now owns 632 shares of the company's stock valued at $66,000 after buying an additional 215 shares during the period. C M Bidwell & Associates Ltd. bought a new stake in shares of Stride in the fourth quarter worth about $77,000. Finally, Smartleaf Asset Management LLC grew 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 buying an additional 592 shares during the last quarter. 98.24% of the stock is currently owned by hedge funds and other institutional investors.

Stride Stock Performance

Shares of NYSE LRN traded up $0.52 during midday trading on Wednesday, hitting $158.69. 487,182 shares of the stock traded hands, compared to its average volume of 834,683. The firm has a market capitalization of $6.91 billion, a P/E ratio of 26.49, a PEG ratio of 1.04 and a beta of 0.36. Stride, Inc. has a one year low of $63.25 and a one year high of $162.30. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.93 and a current ratio of 6.02. The firm has a 50-day moving average of $132.71 and a two-hundred day moving average of $119.20.

Stride (NYSE:LRN - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $2.02 EPS for the quarter, missing the consensus estimate of $2.09 by ($0.07). The business had revenue of $613.38 million for 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%. Stride's revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.60 EPS. On average, equities analysts forecast that Stride, Inc. will post 6.67 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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