Stride, Inc. (NYSE:LRN) Stock Holdings Lifted by Renaissance Group LLC

Renaissance Group LLC raised its position in shares of Stride, Inc. (NYSE:LRN) by 10.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,328 shares of the company’s stock after purchasing an additional 5,614 shares during the period. Renaissance Group LLC owned 0.13% of Stride worth $5,958,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in LRN. Principal Financial Group Inc. lifted its stake in Stride by 293.1% in the fourth quarter. Principal Financial Group Inc. now owns 866,182 shares of the company’s stock valued at $90,024,000 after acquiring an additional 645,835 shares during the last quarter. Norges Bank bought a new stake in Stride in the fourth quarter worth $45,306,000. Arrowstreet Capital Limited Partnership boosted its holdings in Stride by 783.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 453,139 shares of the company’s stock worth $47,095,000 after purchasing an additional 401,838 shares in the last quarter. William Blair Investment Management LLC increased its position in Stride by 18.0% during the fourth quarter. William Blair Investment Management LLC now owns 2,467,019 shares of the company’s stock worth $256,397,000 after buying an additional 375,686 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in Stride by 120.6% during the fourth quarter. Wellington Management Group LLP now owns 607,581 shares of the company’s stock valued at $63,146,000 after buying an additional 332,098 shares in the last quarter. 98.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Barrington Research reiterated an “outperform” rating and issued a $140.00 target price on shares of Stride in a research note on Friday, March 14th. Morgan Stanley lifted their price objective on Stride from $94.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Canaccord Genuity Group increased their target price on Stride from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. Finally, BMO Capital Markets lifted their price target on Stride from $134.00 to $139.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 1st. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Stride currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.17.

Stride Price Performance

Shares of NYSE:LRN opened at $126.15 on Tuesday. The business’s 50 day moving average is $131.42 and its 200-day moving average is $109.77. The company has a current ratio of 6.02, a quick ratio of 5.93 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $5.49 billion, a PE ratio of 21.06, a PEG ratio of 1.04 and a beta of 0.47. Stride, Inc. has a 1-year low of $56.17 and a 1-year high of $145.00.

Stride (NYSE:LRN) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.11. Stride had a net margin of 12.30% and a return on equity of 22.42%. Sell-side analysts predict that Stride, Inc. will post 6.67 earnings per share for the current 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.