Principal Financial Group Inc. Sells 66,770 Shares of Stride, Inc. $LRN

Principal Financial Group Inc. lessened its position in shares of Stride, Inc. (NYSE:LRN) by 8.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 716,469 shares of the company’s stock after selling 66,770 shares during the quarter. Principal Financial Group Inc. owned approximately 1.63% of Stride worth $106,711,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Invesco Ltd. boosted its stake in Stride by 10.3% during the second quarter. Invesco Ltd. now owns 1,782,020 shares of the company’s stock worth $258,731,000 after buying an additional 165,775 shares in the last quarter. Squarepoint Ops LLC raised its stake in shares of Stride by 88.6% in the 2nd quarter. Squarepoint Ops LLC now owns 1,086,879 shares of the company’s stock valued at $157,804,000 after buying an additional 510,641 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Stride by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,045,904 shares of the company’s stock valued at $151,873,000 after buying an additional 24,889 shares in the last quarter. Norges Bank bought a new position in shares of Stride during the 2nd quarter worth about $92,858,000. Finally, Franklin Resources Inc. boosted its position in shares of Stride by 75.2% during the 2nd quarter. Franklin Resources Inc. now owns 426,153 shares of the company’s stock valued at $61,873,000 after acquiring an additional 182,920 shares in the last quarter. 98.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LRN has been the subject of several recent research reports. Wall Street Zen lowered shares of Stride from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Stride in a research note on Monday, December 29th. BMO Capital Markets reissued a “market perform” rating and issued a $94.00 target price on shares of Stride in a report on Wednesday, January 28th. Zacks Research lowered Stride from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $125.00 price target on shares of Stride in a research report on Wednesday, January 28th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $109.75.

Stride Stock Up 2.2%

Shares of LRN opened at $86.44 on Tuesday. The company has a market capitalization of $3.68 billion, a P/E ratio of 13.16, a PEG ratio of 0.51 and a beta of 0.10. Stride, Inc. has a one year low of $60.61 and a one year high of $171.17. The business’s 50 day simple moving average is $67.84 and its 200-day simple moving average is $109.25. The company has a debt-to-equity ratio of 0.31, a current ratio of 7.27 and a quick ratio of 7.19.

Stride Profile

Stride, Inc (NYSE:LRN) is a technology-driven education company that designs and delivers online learning solutions for students and adult learners. Through long-term partnerships with state-authorized public school districts, Stride operates virtual academies that serve K-12 students across the United States. The company’s blended-learning model combines digital curriculum, live teaching support and data analytics to personalize instruction and monitor student progress.

In addition to its K-12 offerings, Stride provides a portfolio of career and workforce readiness programs under its Stride Career Prep division.