Stride, Inc. (NYSE:LRN) Shares Bought by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership grew its holdings in Stride, Inc. (NYSE:LRN) by 783.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 453,139 shares of the company’s stock after purchasing an additional 401,838 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 1.04% of Stride worth $47,095,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of LRN. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Stride by 4.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,421 shares of the company’s stock valued at $1,145,000 after buying an additional 625 shares during the last quarter. Erste Asset Management GmbH acquired a new position in shares of Stride in the 3rd quarter worth approximately $6,391,000. Atom Investors LP purchased a new position in shares of Stride during the 3rd quarter worth approximately $1,274,000. Janus Henderson Group PLC increased its holdings in Stride by 1.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,170,434 shares of the company’s stock valued at $99,851,000 after purchasing an additional 13,050 shares during the last quarter. Finally, IHT Wealth Management LLC purchased a new stake in Stride in the third quarter valued at approximately $823,000. 98.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LRN has been the subject of a number of research reports. Canaccord Genuity Group lifted their price objective on Stride from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. Barrington Research reaffirmed an “outperform” rating and issued a $140.00 target price on shares of Stride in a research report on Friday, March 14th. BMO Capital Markets increased their price target on shares of Stride from $134.00 to $139.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Morgan Stanley lifted their price objective on shares of Stride from $94.00 to $109.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $120.17.

Stride Stock Up 2.1 %

Shares of NYSE:LRN opened at $129.13 on Wednesday. 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 fifty-two week low of $56.17 and a fifty-two week high of $145.00. The stock has a market cap of $5.62 billion, a price-to-earnings ratio of 21.56, a price-to-earnings-growth ratio of 1.04 and a beta of 0.46. The firm’s 50 day moving average price is $130.65 and its 200 day moving average price is $108.49.

Stride (NYSE:LRN) last released its quarterly earnings data on Tuesday, January 28th. The company reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.11. Stride had a net margin of 12.30% and a return on equity of 22.42%. As a group, equities research analysts predict that Stride, Inc. will post 6.67 earnings per share 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.