Envestnet Asset Management Inc. Has $26.09 Million Stake in Stride, Inc. $LRN

Envestnet Asset Management Inc. grew its stake in shares of Stride, Inc. (NYSE:LRN) by 5.8% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 175,195 shares of the company’s stock after acquiring an additional 9,671 shares during the quarter. Envestnet Asset Management Inc. owned about 0.40% of Stride worth $26,094,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Newbridge Financial Services Group Inc. acquired a new position in Stride during the second quarter worth about $25,000. Financial Management Professionals Inc. acquired a new position in Stride during the 3rd quarter worth approximately $26,000. Twin Peaks Wealth Advisors LLC bought a new position in Stride in the 2nd quarter valued at approximately $30,000. Penserra Capital Management LLC acquired a new stake in Stride in the second quarter valued at approximately $27,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Stride by 78.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the company’s stock worth $28,000 after buying an additional 85 shares during the last quarter. 98.24% of the stock is owned by institutional investors and hedge funds.

Stride Price Performance

Shares of LRN opened at $84.36 on Friday. The business has a 50-day moving average of $71.64 and a 200-day moving average of $107.09. The company has a debt-to-equity ratio of 0.31, a current ratio of 7.27 and a quick ratio of 7.19. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of 12.84, a price-to-earnings-growth ratio of 0.51 and a beta of 0.10. Stride, Inc. has a 1 year low of $60.61 and a 1 year high of $171.17.

Wall Street Analyst Weigh In

LRN has been the subject of a number of research reports. Barrington Research reiterated an “outperform” rating and issued a $125.00 price target on shares of Stride in a research note on Wednesday, January 28th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $94.00 target price on shares of Stride in a report on Wednesday, January 28th. Canaccord Genuity Group reiterated a “buy” rating and issued a $125.00 target price on shares of Stride in a research report on Wednesday, January 28th. Wall Street Zen cut Stride from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Finally, Zacks Research downgraded Stride from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $109.75.

About Stride

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.