Driehaus Capital Management LLC Has $56.81 Million Stake in Stride, Inc. (NYSE:LRN)

Driehaus Capital Management LLC lowered its holdings in Stride, Inc. (NYSE:LRN) by 27.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 546,636 shares of the company’s stock after selling 202,587 shares during the quarter. Driehaus Capital Management LLC owned 1.26% of Stride worth $56,812,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Mutual of America Capital Management LLC increased its position in Stride by 1.5% during the fourth quarter. Mutual of America Capital Management LLC now owns 6,492 shares of the company’s stock worth $675,000 after acquiring an additional 93 shares during the period. Arizona State Retirement System raised 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 buying an additional 99 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Stride by 0.5% during the 4th quarter. Louisiana State Employees Retirement System now owns 20,700 shares of the company’s stock valued at $2,151,000 after acquiring an additional 100 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in Stride by 1.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 10,074 shares of the company’s stock valued at $1,047,000 after acquiring an additional 100 shares during the period. Finally, Bosun Asset Management LLC raised its position in Stride by 1.4% in the fourth quarter. Bosun Asset Management LLC now owns 8,292 shares of the company’s stock worth $862,000 after purchasing an additional 111 shares in the last quarter. 98.24% of the stock is currently owned by institutional investors and hedge funds.

Stride Stock Up 0.3 %

Shares of Stride stock opened at $158.69 on Thursday. The business has a fifty day simple moving average of $133.15 and a 200 day simple moving average of $119.47. Stride, Inc. has a 12 month low of $63.25 and a 12 month high of $162.30. The stock has a market cap of $6.91 billion, a PE ratio of 26.49, a price-to-earnings-growth ratio of 1.04 and a beta of 0.36. The company has a quick ratio of 5.93, a current ratio of 6.02 and a debt-to-equity ratio of 0.35.

Stride (NYSE:LRN) last released its quarterly earnings data on Tuesday, April 29th. The company reported $2.02 earnings per share for the quarter, missing the consensus estimate of $2.09 by ($0.07). The business had revenue of $613.38 million for the quarter, compared to the consensus estimate of $591.15 million. Stride had a net margin of 12.30% and a return on equity of 22.42%. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.60 EPS. Research analysts predict that Stride, Inc. will post 6.67 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Barrington Research boosted their price objective on Stride from $150.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. William Blair reissued 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 report on Thursday, May 1st. Finally, Canaccord Genuity Group increased their price objective on Stride from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, April 28th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Stride currently has an average rating of “Moderate Buy” and a consensus price target 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.