28,810 Shares in Stride, Inc. $LRN Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Stride, Inc. (NYSE:LRN) in the second quarter, HoldingsChannel reports. The fund purchased 28,810 shares of the company’s stock, valued at approximately $2,485,000.

Several other large investors have also added to or reduced their stakes in LRN. California State Teachers Retirement System increased its holdings in shares of Stride by 8,050.4% in the second quarter. California State Teachers Retirement System now owns 4,138,140 shares of the company’s stock valued at $356,873,000 after purchasing an additional 4,087,368 shares during the period. Jupiter Topco LLC acquired a new stake in shares of Stride during the second quarter worth about $199,715,000. Norges Bank purchased a new stake in Stride in the fourth quarter valued at approximately $72,871,000. Janus Henderson Group PLC boosted its position in Stride by 61.0% in the first quarter. Janus Henderson Group PLC now owns 2,277,279 shares of the company’s stock valued at $200,799,000 after buying an additional 862,849 shares during the last quarter. Finally, William Blair Investment Management LLC acquired a new position in Stride in the 2nd quarter worth approximately $71,036,000. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Stride Price Performance

NYSE:LRN opened at $81.39 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 5.94 and a quick ratio of 5.81. The company has a 50 day moving average price of $85.48 and a 200-day moving average price of $88.33. Stride, Inc. has a 1-year low of $60.61 and a 1-year high of $161.81. The firm has a market cap of $3.38 billion, a price-to-earnings ratio of 11.30, a price-to-earnings-growth ratio of 0.47 and a beta of 0.11.

Stride (NYSE:LRN) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.48. The firm had revenue of $636.06 million for the quarter, compared to the consensus estimate of $626.52 million. Stride had a net margin of 13.43% and a return on equity of 23.49%. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.29 earnings per share. Equities research analysts forecast that Stride, Inc. will post 8.62 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on LRN. BMO Capital Markets reissued an “outperform” rating and set a $38.00 price target on shares of Stride in a research report on Wednesday. Weiss Ratings reiterated a “hold (c)” rating on shares of Stride in a research note on Wednesday, July 8th. Finally, William Blair cut shares of Stride from an “outperform” rating to a “market perform” rating in a report on Thursday, July 30th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $95.75.

Stride Company Profile

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.