Arizona State Retirement System Reduces Holdings in Stride, Inc. (NYSE:LRN)

Arizona State Retirement System reduced its position in Stride, Inc. (NYSE:LRN) by 1.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,418 shares of the company’s stock after selling 223 shares during the period. Arizona State Retirement System’s holdings in Stride were worth $678,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of LRN. Advisor Group Holdings Inc. boosted its holdings in Stride by 40.5% in the first quarter. Advisor Group Holdings Inc. now owns 2,050 shares of the company’s stock valued at $120,000 after purchasing an additional 591 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Stride by 26.2% during the 1st quarter. JPMorgan Chase & Co. now owns 228,997 shares of the company’s stock valued at $8,321,000 after buying an additional 47,583 shares during the last quarter. Raymond James & Associates grew its position in shares of Stride by 9.2% during the first quarter. Raymond James & Associates now owns 9,637 shares of the company’s stock worth $350,000 after buying an additional 814 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Stride by 14.8% in the first quarter. PNC Financial Services Group Inc. now owns 5,445 shares of the company’s stock worth $198,000 after buying an additional 700 shares during the last quarter. Finally, MetLife Investment Management LLC raised its holdings in Stride by 52.5% in the first quarter. MetLife Investment Management LLC now owns 23,353 shares of the company’s stock valued at $848,000 after acquiring an additional 8,035 shares in the last quarter. 98.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LRN. Morgan Stanley boosted their target price on shares of Stride from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 24th. StockNews.com raised Stride from a “hold” rating to a “buy” rating in a report on Tuesday, April 2nd. Wedbush reaffirmed an “outperform” rating on shares of Stride in a report on Wednesday, January 24th. Barrington Research reiterated an “outperform” rating and issued a $75.00 price target on shares of Stride in a report on Wednesday. Finally, Citigroup upped their price target on Stride from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, January 29th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $71.75.

Stride Stock Performance

Shares of LRN stock opened at $57.24 on Friday. The company has a market cap of $2.48 billion, a P/E ratio of 14.45, a PEG ratio of 0.67 and a beta of 0.26. The business has a 50 day moving average of $60.50 and a two-hundred day moving average of $57.81. Stride, Inc. has a 52 week low of $35.61 and a 52 week high of $69.70. The company has a quick ratio of 4.44, a current ratio of 4.52 and a debt-to-equity ratio of 0.43.

Stride (NYSE:LRN) last released its quarterly earnings data on Tuesday, January 23rd. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.23. The business had revenue of $504.87 million during the quarter, compared to analyst estimates of $498.05 million. Stride had a return on equity of 17.77% and a net margin of 8.80%. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.19 EPS. As a group, analysts anticipate that Stride, Inc. will post 4.31 EPS for the current year.

About Stride

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.