Stride, Inc. (NYSE:LRN) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System lessened its stake in shares of Stride, Inc. (NYSE:LRN) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,557 shares of the company’s stock after selling 421 shares during the quarter. California State Teachers Retirement System owned about 0.09% of Stride worth $4,007,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in LRN. KBC Group NV boosted its holdings in shares of Stride by 68.5% during the fourth quarter. KBC Group NV now owns 1,891 shares of the company’s stock worth $197,000 after purchasing an additional 769 shares during the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in Stride in the fourth quarter valued at about $340,000. Longboard Asset Management LP purchased a new position in Stride in the fourth quarter valued at about $226,000. Choreo LLC purchased a new position in Stride in the fourth quarter valued at about $588,000. Finally, Bleakley Financial Group LLC grew its stake in shares of Stride by 14.2% during the fourth quarter. Bleakley Financial Group LLC now owns 4,400 shares of the company’s stock valued at $457,000 after acquiring an additional 547 shares in the last quarter. Institutional investors and hedge funds own 98.24% of the company’s stock.

Stride Stock Performance

Shares of NYSE LRN opened at $143.07 on Wednesday. The company has a quick ratio of 5.93, a current ratio of 6.02 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $6.23 billion, a price-to-earnings ratio of 23.89, a PEG ratio of 1.04 and a beta of 0.36. The stock’s fifty day simple moving average is $143.61 and its 200 day simple moving average is $127.64. Stride, Inc. has a 52-week low of $63.25 and a 52-week high of $162.30.

Stride (NYSE:LRN) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $2.02 earnings per share for the quarter, missing analysts’ consensus estimates of $2.09 by ($0.07). Stride had a net margin of 12.30% and a return on equity of 22.42%. The business had revenue of $613.38 million for the quarter, compared to analysts’ expectations of $591.15 million. During the same quarter in the prior year, the firm posted $1.60 EPS. The business’s quarterly revenue was up 17.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Stride, Inc. will post 6.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on LRN shares. William Blair restated an “outperform” rating on shares of Stride in a research note on Wednesday, April 30th. BMO Capital Markets restated an “outperform” rating on shares of Stride in a research note on Thursday, May 1st. Canaccord Genuity Group boosted their price objective on Stride from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, April 28th. Wall Street Zen downgraded Stride from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. Finally, Barrington Research boosted their target price on Stride from $150.00 to $170.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, 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.