Stride, Inc. (NYSE:LRN) Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. increased its position in shares of Stride, Inc. (NYSE:LRN) by 2.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,111 shares of the company’s stock after purchasing an additional 164 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Stride were worth $900,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of LRN. Vestcor Inc raised its position in Stride by 4.6% during the first quarter. Vestcor Inc now owns 2,328 shares of the company’s stock valued at $294,000 after acquiring an additional 102 shares in the last quarter. Bosun Asset Management LLC raised its position in Stride by 1.4% during the fourth quarter. Bosun Asset Management LLC now owns 8,292 shares of the company’s stock valued at $862,000 after acquiring an additional 111 shares in the last quarter. First Horizon Advisors Inc. raised its position in Stride by 140.5% during the first quarter. First Horizon Advisors Inc. now owns 267 shares of the company’s stock valued at $34,000 after acquiring an additional 156 shares in the last quarter. Larson Financial Group LLC raised its position in Stride by 333.3% during the first quarter. Larson Financial Group LLC now owns 208 shares of the company’s stock valued at $26,000 after acquiring an additional 160 shares in the last quarter. Finally, NDVR Inc. raised its position in Stride by 5.1% during the fourth quarter. NDVR Inc. now owns 3,762 shares of the company’s stock valued at $391,000 after acquiring an additional 182 shares in the last quarter. Institutional investors and hedge funds own 98.24% of the company’s stock.

Stride Stock Up 0.5%

Shares of LRN opened at $150.25 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.27 and a current ratio of 5.39. Stride, Inc. has a one year low of $63.25 and a one year high of $162.30. The stock has a market capitalization of $6.56 billion, a price-to-earnings ratio of 24.96, a PEG ratio of 0.88 and a beta of 0.10. The stock has a 50 day moving average price of $138.48 and a 200 day moving average price of $138.15.

Stride (NYSE:LRN) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $2.29 EPS for the quarter, topping the consensus estimate of $1.83 by $0.46. Stride had a return on equity of 25.51% and a net margin of 11.97%. The firm had revenue of $653.65 million during the quarter, compared to analysts’ expectations of $626.23 million. During the same period in the previous year, the business earned $1.42 earnings per share. The firm’s revenue for the quarter was up 22.4% on a year-over-year basis. Equities research analysts forecast that Stride, Inc. will post 6.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

LRN has been the subject of a number of recent analyst reports. Canaccord Genuity Group boosted their price objective on Stride from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, April 28th. BMO Capital Markets restated an “outperform” rating on shares of Stride in a research report on Thursday, May 1st. William Blair restated an “outperform” rating on shares of Stride in a research report on Wednesday, April 30th. Wall Street Zen upgraded Stride from a “hold” rating to a “buy” rating in a research report on Saturday, June 21st. Finally, Morgan Stanley boosted their price objective on Stride from $148.00 to $159.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 6th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Stride currently has a consensus rating of “Moderate Buy” and an average price target of $143.40.

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.