Envestnet Asset Management Inc. Purchases 43,418 Shares of Stride, Inc. (NYSE:LRN)

Envestnet Asset Management Inc. grew its position in shares of Stride, Inc. (NYSE:LRN) by 30.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 185,302 shares of the company’s stock after buying an additional 43,418 shares during the quarter. Envestnet Asset Management Inc. owned 0.43% of Stride worth $23,441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. DAVENPORT & Co LLC purchased a new stake in Stride in the 1st quarter worth $461,000. Canandaigua National Bank & Trust Co. purchased a new stake in Stride in the 1st quarter worth $273,000. GAMMA Investing LLC increased its stake in Stride by 14,892.4% in the 1st quarter. GAMMA Investing LLC now owns 370,013 shares of the company’s stock worth $46,807,000 after buying an additional 367,545 shares in the last quarter. Keybank National Association OH increased its stake in Stride by 65.8% in the 1st quarter. Keybank National Association OH now owns 6,413 shares of the company’s stock worth $811,000 after buying an additional 2,544 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in Stride by 120.6% in the 4th quarter. Wellington Management Group LLP now owns 607,581 shares of the company’s stock worth $63,146,000 after buying an additional 332,098 shares in the last quarter. 98.24% of the stock is owned by institutional investors.

Stride Trading Down 0.4%

Shares of Stride stock opened at $134.43 on Wednesday. Stride, Inc. has a 1 year low of $63.25 and a 1 year high of $162.30. The company has a market capitalization of $5.85 billion, a P/E ratio of 20.97, a PEG ratio of 0.87 and a beta of 0.32. The company has a debt-to-equity ratio of 0.33, a quick ratio of 5.53 and a current ratio of 5.61. The company’s fifty day moving average is $146.19 and its two-hundred day moving average is $134.89.

Stride (NYSE:LRN) last posted its earnings results on Tuesday, April 29th. The company reported $2.02 earnings per share 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 13.10% and a return on equity of 23.36%. The business’s revenue was up 17.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.60 earnings per share. Analysts forecast that Stride, Inc. will post 6.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LRN. William Blair reaffirmed an “outperform” rating on shares of Stride in a report on Wednesday, April 30th. Wall Street Zen raised shares of Stride from a “hold” rating to a “buy” rating in a research note on Saturday, June 21st. BMO Capital Markets reissued an “outperform” rating on shares of Stride in a research note on Thursday, May 1st. Barrington Research raised their price objective on shares of Stride from $150.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Finally, Canaccord Genuity Group raised their price objective on shares of Stride from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Monday, April 28th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $126.83.

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.