Stride, Inc. (NYSE:LRN) Shares Acquired by Covestor Ltd

Covestor Ltd increased its position in shares of Stride, Inc. (NYSE:LRN) by 51.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 632 shares of the company’s stock after acquiring an additional 215 shares during the quarter. Covestor Ltd’s holdings in Stride were worth $66,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LRN. R Squared Ltd acquired a new stake in shares of Stride during the fourth quarter worth $37,000. CIBC Private Wealth Group LLC lifted its position in Stride by 85.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 386 shares of the company’s stock worth $42,000 after buying an additional 178 shares during the period. C M Bidwell & Associates Ltd. acquired a new stake in Stride in the 4th quarter worth about $77,000. Smartleaf Asset Management LLC grew its holdings in Stride by 372.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 751 shares of the company’s stock valued at $79,000 after buying an additional 592 shares during the period. Finally, Quadrant Capital Group LLC grew its holdings in Stride by 23.0% in the 4th quarter. Quadrant Capital Group LLC now owns 1,378 shares of the company’s stock valued at $143,000 after buying an additional 258 shares during the period. 98.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LRN has been the topic of several research analyst reports. Canaccord Genuity Group raised their target price on shares of Stride from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. Barrington Research reiterated an “outperform” rating and issued a $140.00 price target on shares of Stride in a report on Friday, March 14th. Finally, BMO Capital Markets boosted their price objective on shares of Stride from $134.00 to $139.00 and gave the company an “outperform” rating in a research note on Tuesday, April 1st. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.17.

Stride Price Performance

Stride stock opened at $134.99 on Tuesday. The firm has a fifty day moving average of $131.19 and a 200-day moving average of $111.88. Stride, Inc. has a 52-week low of $56.17 and a 52-week high of $145.00. 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 firm has a market capitalization of $5.88 billion, a P/E ratio of 22.54, a PEG ratio of 1.04 and a beta of 0.47.

Stride (NYSE:LRN) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $2.03 earnings per share (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%. As a group, analysts predict that Stride, Inc. will post 6.67 EPS for the current 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.