435,925 Shares in Stride, Inc. (NYSE:LRN) Bought by Norges Bank

Norges Bank bought a new position in shares of Stride, Inc. (NYSE:LRN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 435,925 shares of the company’s stock, valued at approximately $45,306,000. Norges Bank owned about 1.00% of Stride as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mutual of America Capital Management LLC boosted its holdings in Stride by 1.5% in the fourth quarter. Mutual of America Capital Management LLC now owns 6,492 shares of the company’s stock valued at $675,000 after acquiring an additional 93 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Stride by 0.8% in the 4th quarter. Arizona State Retirement System now owns 11,932 shares of the company’s stock valued at $1,240,000 after purchasing an additional 99 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Stride by 0.5% in the 4th quarter. Louisiana State Employees Retirement System now owns 20,700 shares of the company’s stock valued at $2,151,000 after purchasing an additional 100 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Stride by 1.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 10,074 shares of the company’s stock worth $1,047,000 after buying an additional 100 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in Stride by 3.6% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,232 shares of the company’s stock worth $336,000 after buying an additional 113 shares during the last quarter. 98.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Canaccord Genuity Group increased their price target on Stride from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. Morgan Stanley upped their target price on Stride from $94.00 to $109.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. BMO Capital Markets lifted their target price on Stride from $134.00 to $139.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Barrington Research reissued an “outperform” rating and issued a $140.00 price target on shares of Stride in a research note on Friday, March 14th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $120.17.

Stride Stock Down 3.8 %

LRN stock opened at $125.57 on Friday. The stock’s 50 day simple moving average is $131.27 and its 200 day simple moving average is $109.09. The company has a market cap of $5.47 billion, a P/E ratio of 20.96, a price-to-earnings-growth ratio of 1.04 and a beta of 0.46. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.93 and a current ratio of 6.02. Stride, Inc. has a fifty-two week low of $56.17 and a fifty-two week high of $145.00.

Stride (NYSE:LRN) last released its quarterly earnings data on Tuesday, January 28th. The company reported $2.03 EPS for the quarter, beating the consensus estimate of $1.92 by $0.11. Stride had a return on equity of 22.42% and a net margin of 12.30%. On average, research analysts expect that Stride, Inc. will post 6.67 earnings per share for the current fiscal year.

About Stride

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.