Principal Financial Group Inc. Trims Position in Stride, Inc. (NYSE:LRN)

Principal Financial Group Inc. cut its holdings in shares of Stride, Inc. (NYSE:LRN) by 2.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 253,214 shares of the company’s stock after selling 5,989 shares during the quarter. Principal Financial Group Inc. owned 0.59% of Stride worth $9,939,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. raised its position in Stride by 0.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,169 shares of the company’s stock worth $1,223,000 after buying an additional 283 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Stride by 51.7% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,015 shares of the company’s stock valued at $40,000 after purchasing an additional 346 shares in the last quarter. FMR LLC increased its holdings in shares of Stride by 0.4% during the 2nd quarter. FMR LLC now owns 84,342 shares of the company’s stock valued at $3,441,000 after purchasing an additional 346 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of Stride by 3.3% during the 1st quarter. Arizona State Retirement System now owns 11,845 shares of the company’s stock valued at $465,000 after purchasing an additional 380 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Stride by 1.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 33,065 shares of the company’s stock valued at $1,034,000 after purchasing an additional 393 shares in the last quarter. 98.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Stride from $50.00 to $52.00 and gave the company an “equal weight” rating in a report on Wednesday, August 16th. Barrington Research reaffirmed an “outperform” rating and set a $50.00 target price on shares of Stride in a report on Wednesday, August 16th. BMO Capital Markets lifted their target price on shares of Stride from $49.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, August 16th. Finally, StockNews.com initiated coverage on shares of Stride in a research note on Thursday, August 17th. They issued a “buy” rating on the stock.

Stride Price Performance

Stride stock opened at $41.47 on Wednesday. The company’s fifty day moving average price is $38.49 and its 200 day moving average price is $39.94. Stride, Inc. has a 1 year low of $30.66 and a 1 year high of $47.35. The stock has a market capitalization of $1.78 billion, a P/E ratio of 14.01, a P/E/G ratio of 0.63 and a beta of 0.29. The company has a debt-to-equity ratio of 0.46, a quick ratio of 3.33 and a current ratio of 3.45.

Stride (NYSE:LRN) last announced its earnings results on Tuesday, August 15th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.15. Stride had a net margin of 6.90% and a return on equity of 14.60%. The company had revenue of $483.49 million for the quarter, compared to analysts’ expectations of $460.70 million. During the same quarter in the previous year, the company posted $0.66 EPS. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, equities research analysts anticipate that Stride, Inc. will post 3.27 earnings per share for the current fiscal year.

Stride Company Profile

Stride, Inc, a technology-based education service company, provides proprietary and third-party online curriculum, software systems, and educational services to facilitate individualized learning for students primarily in kindergarten through 12th grade (K-12) in the United States and internationally.