Stride (NYSE:LRN) Shares Gap Up – What’s Next?

Stride, Inc. (NYSE:LRN) shares gapped up before the market opened on Wednesday . The stock had previously closed at $80.45, but opened at $87.46. Stride shares last traded at $83.55, with a volume of 168,998 shares.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of Stride in a research report on Wednesday, July 8th. William Blair downgraded Stride from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 30th. BMO Capital Markets reiterated a “market perform” rating on shares of Stride in a research report on Monday, June 15th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $125.00 price target on shares of Stride in a research note on Thursday, April 16th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $109.75.

Stride Stock Performance

The firm has a market cap of $3.55 billion, a PE ratio of 12.88, a P/E/G ratio of 0.45 and a beta of 0.11. The stock has a 50-day moving average price of $89.43 and a 200 day moving average price of $87.74. The company has a debt-to-equity ratio of 0.29, a current ratio of 6.21 and a quick ratio of 6.14.

Institutional Investors Weigh In On Stride

Hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new position in Stride during the fourth quarter worth approximately $72,871,000. Janus Henderson Group PLC raised its position in shares of Stride by 61.0% in the 1st quarter. Janus Henderson Group PLC now owns 2,277,279 shares of the company’s stock worth $200,799,000 after buying an additional 862,849 shares during the period. Morgan Stanley boosted its holdings in Stride by 98.1% in the fourth quarter. Morgan Stanley now owns 1,631,570 shares of the company’s stock valued at $105,938,000 after acquiring an additional 808,141 shares during the last quarter. Barclays PLC increased its stake in Stride by 254.8% during the fourth quarter. Barclays PLC now owns 688,214 shares of the company’s stock worth $44,686,000 after acquiring an additional 494,215 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Stride by 682.1% in the 4th quarter. Victory Capital Management Inc. now owns 562,346 shares of the company’s stock worth $36,513,000 after purchasing an additional 490,445 shares during the period. 98.24% of the stock is owned by institutional investors and hedge funds.

About Stride

Stride, Inc (NYSE:LRN) is a technology-driven education company that designs and delivers online learning solutions for students and adult learners. Through long-term partnerships with state-authorized public school districts, Stride operates virtual academies that serve K-12 students across the United States. The company’s blended-learning model combines digital curriculum, live teaching support and data analytics to personalize instruction and monitor student progress.

In addition to its K-12 offerings, Stride provides a portfolio of career and workforce readiness programs under its Stride Career Prep division.