Legal & General Group Plc Sells 20,681 Shares of Stride, Inc. $LRN

Legal & General Group Plc reduced its position in shares of Stride, Inc. (NYSE:LRN) by 15.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 112,121 shares of the company’s stock after selling 20,681 shares during the quarter. Legal & General Group Plc’s holdings in Stride were worth $7,280,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its stake in shares of Stride by 78.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the company’s stock valued at $28,000 after purchasing an additional 85 shares during the period. Geneos Wealth Management Inc. increased its position in Stride by 62.7% in the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the company’s stock worth $43,000 after buying an additional 131 shares in the last quarter. Measured Wealth Private Client Group LLC increased its position in Stride by 3.8% in the third quarter. Measured Wealth Private Client Group LLC now owns 4,619 shares of the company’s stock worth $688,000 after buying an additional 169 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in Stride in the second quarter worth about $25,000. Finally, Rezny Wealth Management Inc. increased its position in Stride by 1.3% in the fourth quarter. Rezny Wealth Management Inc. now owns 14,361 shares of the company’s stock worth $932,000 after buying an additional 190 shares in the last quarter. 98.24% of the stock is currently owned by institutional investors.

Stride Stock Performance

NYSE:LRN opened at $99.97 on Friday. The company has a current ratio of 6.21, a quick ratio of 6.14 and a debt-to-equity ratio of 0.29. Stride, Inc. has a 12-month low of $60.61 and a 12-month high of $171.17. The stock has a 50-day moving average price of $92.36 and a 200 day moving average price of $80.84. The stock has a market capitalization of $4.25 billion, a P/E ratio of 15.43, a P/E/G ratio of 0.61 and a beta of 0.10.

Stride (NYSE:LRN) last released its earnings results on Tuesday, April 28th. The company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.09. Stride had a return on equity of 25.20% and a net margin of 12.15%.The firm had revenue of $629.87 million during the quarter, compared to analysts’ expectations of $629.69 million. During the same quarter last year, the business posted $2.02 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis. Equities research analysts forecast that Stride, Inc. will post 8.21 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on the company. Barrington Research restated an “outperform” rating and issued a $125.00 price target on shares of Stride in a research report on Thursday, April 16th. BMO Capital Markets restated a “market perform” rating on shares of Stride in a research report on Tuesday, March 3rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Stride in a research report on Friday, April 10th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Stride currently has a consensus rating of “Hold” and a consensus target price of $109.75.

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.