New York State Teachers Retirement System Sells 5,641 Shares of Stride, Inc. $LRN

New York State Teachers Retirement System lessened its holdings in shares of Stride, Inc. (NYSE:LRN) by 22.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,409 shares of the company’s stock after selling 5,641 shares during the period. New York State Teachers Retirement System’s holdings in Stride were worth $1,711,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. raised its position in shares of Stride by 78.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the company’s stock valued at $28,000 after buying an additional 85 shares in the last quarter. Geneos Wealth Management Inc. grew its position in Stride by 62.7% during 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. Maryland State Retirement & Pension System grew its position in Stride by 2.4% during the fourth quarter. Maryland State Retirement & Pension System now owns 6,338 shares of the company’s stock worth $412,000 after buying an additional 149 shares in the last quarter. Measured Wealth Private Client Group LLC increased its stake in Stride by 3.8% during the 3rd quarter. Measured Wealth Private Client Group LLC now owns 4,619 shares of the company’s stock worth $688,000 after acquiring an additional 169 shares during the period. Finally, Newbridge Financial Services Group Inc. bought a new position in Stride during the 2nd quarter worth $25,000. 98.24% of the stock is owned by institutional investors.

Stride Price Performance

Shares of NYSE LRN traded down $0.09 during trading hours on Friday, hitting $91.00. 266,405 shares of the stock were exchanged, compared to its average volume of 882,965. The company has a debt-to-equity ratio of 0.29, a quick ratio of 6.14 and a current ratio of 6.21. The company has a market cap of $3.87 billion, a PE ratio of 14.04, a price-to-earnings-growth ratio of 0.51 and a beta of 0.10. The company’s fifty day simple moving average is $90.51 and its two-hundred day simple moving average is $85.27. Stride, Inc. has a 1-year low of $60.61 and a 1-year high of $171.17.

Stride (NYSE:LRN) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.09. Stride had a net margin of 12.15% and a return on equity of 25.20%. The business had revenue of $629.87 million for the quarter, compared to analysts’ expectations of $629.69 million. During the same period last year, the firm posted $2.02 earnings per share. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, sell-side analysts predict that Stride, Inc. will post 8.21 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on LRN shares. Barrington Research reaffirmed an “outperform” rating and issued a $125.00 price objective on shares of Stride in a report on Thursday, April 16th. BMO Capital Markets reissued a “market perform” rating on shares of Stride in a report on Monday, June 15th. Weiss Ratings restated a “hold (c)” rating on shares of Stride in a research report on Wednesday. Finally, William Blair reaffirmed an “outperform” rating on shares of Stride in a research note on Monday, June 15th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently 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.