Sigma Planning Corp Acquires 5,433 Shares of Stride, Inc. (NYSE:LRN)

Sigma Planning Corp grew its holdings in shares of Stride, Inc. (NYSE:LRN) by 220.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,903 shares of the company’s stock after purchasing an additional 5,433 shares during the period. Sigma Planning Corp’s holdings in Stride were worth $1,000,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC purchased a new position in Stride in the 4th quarter valued at approximately $212,000. Avantax Advisory Services Inc. acquired a new stake in shares of Stride in the fourth quarter worth $214,000. Swiss National Bank grew its holdings in Stride by 0.7% during the 4th quarter. Swiss National Bank now owns 80,800 shares of the company’s stock worth $8,398,000 after acquiring an additional 600 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Stride by 9.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 4,842 shares of the company’s stock worth $503,000 after buying an additional 417 shares during the last quarter. Finally, Cibc World Markets Corp bought a new stake in shares of Stride during the 4th quarter worth about $414,000. 98.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on LRN shares. Canaccord Genuity Group boosted their price objective on shares of Stride from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Monday, April 28th. William Blair reaffirmed an “outperform” rating on shares of Stride in a research note on Wednesday, April 30th. Wall Street Zen raised Stride from a “hold” rating to a “buy” rating in a report on Saturday, June 21st. Barrington Research raised their price target on Stride from $150.00 to $170.00 and gave the stock an “outperform” rating in a research report 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 equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $126.83.

Stride Stock Down 0.0%

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

Stride (NYSE:LRN) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $2.02 earnings per share for the quarter, missing analysts’ consensus estimates of $2.09 by ($0.07). Stride had a net margin of 13.10% and a return on equity of 23.36%. The company had revenue of $613.38 million during the quarter, compared to analyst estimates of $591.15 million. During the same quarter last year, the business earned $1.60 EPS. The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year. As a group, equities 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.