Bright Futures Wealth Management LLC. Acquires Shares of 8,707 Stride, Inc. $LRN

Bright Futures Wealth Management LLC. acquired a new stake in shares of Stride, Inc. (NYSE:LRN) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 8,707 shares of the company’s stock, valued at approximately $1,297,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Newbridge Financial Services Group Inc. acquired a new position in Stride during the 2nd quarter valued at about $25,000. Financial Management Professionals Inc. bought a new position in shares of Stride in the third quarter valued at approximately $26,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Stride during the second quarter valued at approximately $30,000. Penserra Capital Management LLC bought a new stake in Stride during the second quarter worth $27,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in Stride by 78.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the company’s stock valued at $28,000 after buying an additional 85 shares during the last quarter. Institutional investors and hedge funds own 98.24% of the company’s stock.

Stride Stock Down 1.6%

LRN opened at $84.53 on Monday. Stride, Inc. has a twelve month low of $60.61 and a twelve month high of $171.17. The company’s 50-day moving average price is $76.00 and its two-hundred day moving average price is $102.34. The stock has a market cap of $3.60 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 0.50 and a beta of 0.12. The company has a quick ratio of 7.19, a current ratio of 7.27 and a debt-to-equity ratio of 0.31.

Analyst Ratings Changes

LRN has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Stride in a report on Monday, December 29th. Barrington Research reissued an “outperform” rating and set a $125.00 price target on shares of Stride in a research report on Wednesday, January 28th. Morgan Stanley reduced their price objective on shares of Stride from $130.00 to $95.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 17th. Canaccord Genuity Group reiterated a “buy” rating and issued a $125.00 price objective on shares of Stride in a research note on Wednesday, January 28th. Finally, Wall Street Zen cut shares of Stride from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Stride currently has an average rating of “Hold” and a consensus target price of $109.75.

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.