Wellington Management Group LLP Has $75.50 Million Stake in Stride, Inc. $LRN

Wellington Management Group LLP decreased its holdings in shares of Stride, Inc. (NYSE:LRN) by 1.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 596,854 shares of the company’s stock after selling 10,727 shares during the quarter. Wellington Management Group LLP’s holdings in Stride were worth $75,502,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Janus Henderson Group PLC boosted its holdings in Stride by 27.6% during the fourth quarter. Janus Henderson Group PLC now owns 1,493,709 shares of the company’s stock worth $155,251,000 after purchasing an additional 323,275 shares during the last quarter. Congress Asset Management Co. boosted its holdings in Stride by 102.2% during the first quarter. Congress Asset Management Co. now owns 1,169,748 shares of the company’s stock worth $147,973,000 after purchasing an additional 591,208 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Stride by 9.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 764,067 shares of the company’s stock worth $79,411,000 after purchasing an additional 65,509 shares during the last quarter. Deutsche Bank AG boosted its holdings in Stride by 10.4% during the first quarter. Deutsche Bank AG now owns 617,894 shares of the company’s stock worth $78,164,000 after purchasing an additional 58,029 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Stride by 1.3% during the first quarter. Northern Trust Corp now owns 467,774 shares of the company’s stock worth $59,173,000 after purchasing an additional 5,820 shares during the last quarter. Institutional investors and hedge funds own 98.24% of the company’s stock.

Analysts Set New Price Targets

LRN has been the subject of several recent research reports. Canaccord Genuity Group increased their target price on shares of Stride from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Monday, April 28th. Barrington Research reiterated an “outperform” rating and issued a $170.00 price target on shares of Stride in a research note on Thursday, July 24th. William Blair reiterated an “outperform” rating on shares of Stride in a research note on Wednesday, April 30th. Wall Street Zen cut shares of Stride from a “buy” rating to a “hold” rating in a research note on Friday. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Stride in a research note on Thursday, May 1st. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $143.40.

Insider Buying and Selling at Stride

In other news, CEO James Jeaho Rhyu sold 13,961 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $162.66, for a total value of $2,270,896.26. Following the transaction, the chief executive officer directly owned 706,353 shares of the company’s stock, valued at $114,895,378.98. This represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.00% of the stock is owned by insiders.

Stride Price Performance

Shares of LRN opened at $165.3750 on Friday. The firm has a market capitalization of $7.22 billion, a PE ratio of 27.47, a PEG ratio of 0.98 and a beta of 0.10. The company’s 50-day moving average is $141.91 and its 200-day moving average is $140.01. Stride, Inc. has a fifty-two week low of $63.25 and a fifty-two week high of $169.87. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.39 and a quick ratio of 5.27.

Stride (NYSE:LRN) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.46. The company had revenue of $653.65 million for the quarter, compared to analyst estimates of $626.23 million. Stride had a net margin of 11.97% and a return on equity of 25.51%. The company’s revenue was up 22.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.42 earnings per share. Equities analysts forecast that Stride, Inc. will post 6.67 EPS for the current year.

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.