Edgestream Partners L.P. Invests $2.06 Million in Stride, Inc. (NYSE:LRN)

Edgestream Partners L.P. purchased a new stake in shares of Stride, Inc. (NYSE:LRN) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 16,304 shares of the company’s stock, valued at approximately $2,062,000.

A number of other institutional investors and hedge funds have also bought and sold shares of LRN. CWM LLC grew its position in Stride by 87.4% during the first quarter. CWM LLC now owns 1,231 shares of the company’s stock valued at $156,000 after buying an additional 574 shares during the period. New York State Common Retirement Fund grew its holdings in Stride by 28.4% during the 1st quarter. New York State Common Retirement Fund now owns 138,344 shares of the company’s stock worth $17,501,000 after acquiring an additional 30,614 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Stride by 4.8% during the first quarter. Arizona State Retirement System now owns 12,504 shares of the company’s stock valued at $1,582,000 after buying an additional 572 shares during the last quarter. Diversify Wealth Management LLC purchased a new position in shares of Stride in the 1st quarter valued at approximately $199,000. Finally, Xponance Inc. raised its position in Stride by 6.2% during the 1st quarter. Xponance Inc. now owns 3,315 shares of the company’s stock worth $419,000 after buying an additional 194 shares during the last quarter. 98.24% of the stock is currently owned by institutional investors.

Stride Price Performance

NYSE LRN opened at $133.05 on Friday. The stock has a 50-day simple moving average of $145.19 and a 200 day simple moving average of $135.06. The company has a debt-to-equity ratio of 0.33, a quick ratio of 5.53 and a current ratio of 5.61. The stock has a market capitalization of $5.79 billion, a PE ratio of 20.76, a P/E/G ratio of 0.86 and a beta of 0.32. Stride, Inc. has a twelve month low of $63.25 and a twelve month high of $162.30.

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 company had revenue of $613.38 million during the quarter, compared to the consensus estimate of $591.15 million. Stride had a net margin of 13.10% and a return on equity of 23.36%. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.60 earnings per share. Research analysts anticipate that Stride, Inc. will post 6.67 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LRN. William Blair reiterated an “outperform” rating on shares of Stride in a report on Wednesday, April 30th. BMO Capital Markets reiterated an “outperform” rating on shares of Stride in a research note on Thursday, May 1st. Canaccord Genuity Group upped their price target on Stride from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Monday, April 28th. Barrington Research upped their price objective on Stride from $150.00 to $170.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Finally, Wall Street Zen raised Stride from a “hold” rating to a “buy” rating in a research note on Saturday, June 21st. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $126.83.

Stride Company 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.