Stride, Inc. (NYSE:LRN) Shares Acquired by Bright Futures Wealth Management LLC.

Bright Futures Wealth Management LLC. lifted its stake in shares of Stride, Inc. (NYSE:LRN) by 12.3% during the first quarter, HoldingsChannel.com reports. The firm owned 9,065 shares of the company’s stock after purchasing an additional 992 shares during the period. Stride accounts for about 1.3% of Bright Futures Wealth Management LLC.’s portfolio, making the stock its 24th largest position. Bright Futures Wealth Management LLC.’s holdings in Stride were worth $1,206,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Stride by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 4,673,393 shares of the company’s stock worth $485,706,000 after purchasing an additional 69,888 shares during the period. William Blair Investment Management LLC grew its stake in shares of Stride by 18.0% during the 4th quarter. William Blair Investment Management LLC now owns 2,467,019 shares of the company’s stock worth $256,397,000 after purchasing an additional 375,686 shares during the period. Janus Henderson Group PLC grew its stake in shares of Stride by 27.6% during the 4th quarter. Janus Henderson Group PLC now owns 1,493,709 shares of the company’s stock worth $155,251,000 after purchasing an additional 323,275 shares during the period. Congress Asset Management Co. grew its stake in shares of Stride by 102.2% during the 1st quarter. Congress Asset Management Co. now owns 1,169,748 shares of the company’s stock worth $147,973,000 after purchasing an additional 591,208 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Stride by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 970,395 shares of the company’s stock worth $100,877,000 after purchasing an additional 5,694 shares during the period. 98.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LRN. Barrington Research upped their price target on shares of Stride from $150.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Wall Street Zen raised shares of Stride from a “hold” rating to a “buy” rating in a research note on Saturday. Canaccord Genuity Group increased their price objective on shares of Stride from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Monday, April 28th. William Blair reissued an “outperform” rating on shares of Stride in a research note on Wednesday, April 30th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Stride in a research note on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $126.83.

Stride Price Performance

NYSE:LRN opened at $145.87 on Friday. The firm has a market cap of $6.35 billion, a price-to-earnings ratio of 22.76, a price-to-earnings-growth ratio of 1.03 and a beta of 0.35. The company has a current ratio of 5.61, a quick ratio of 5.53 and a debt-to-equity ratio of 0.33. The company’s 50-day moving average is $147.30 and its two-hundred day moving average is $131.02. Stride, Inc. has a 12-month low of $63.25 and a 12-month high of $162.30.

Stride (NYSE:LRN) last released its earnings results on Tuesday, April 29th. The company reported $2.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.09 by ($0.07). The firm had revenue of $613.38 million during the quarter, compared to analysts’ expectations of $591.15 million. Stride had a net margin of 13.10% and a return on equity of 23.36%. Stride’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same quarter last year, the company posted $1.60 earnings per share. Research analysts expect that Stride, Inc. will post 6.67 EPS for the current year.

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.