Arrowstreet Capital Limited Partnership Raises Stock Position in Stride, Inc. (NYSE:LRN)

Arrowstreet Capital Limited Partnership grew its stake in Stride, Inc. (NYSE:LRN) by 783.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 453,139 shares of the company’s stock after buying an additional 401,838 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Stride were worth $47,095,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Stride by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 4,673,393 shares of the company’s stock valued at $485,706,000 after acquiring an additional 69,888 shares in the last quarter. William Blair Investment Management LLC boosted its position in shares of Stride by 18.0% in the 4th quarter. William Blair Investment Management LLC now owns 2,467,019 shares of the company’s stock valued at $256,397,000 after purchasing an additional 375,686 shares during the period. Janus Henderson Group PLC grew its stake in Stride by 1.1% during the 3rd quarter. Janus Henderson Group PLC now owns 1,170,434 shares of the company’s stock worth $99,851,000 after buying an additional 13,050 shares during the last quarter. Geode Capital Management LLC increased its position in Stride by 3.8% during the third quarter. Geode Capital Management LLC now owns 964,701 shares of the company’s stock worth $82,315,000 after buying an additional 35,349 shares during the period. Finally, 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 buying an additional 645,835 shares during the last quarter. 98.24% of the stock is owned by hedge funds and other institutional investors.

Stride Trading Up 2.1 %

Shares of Stride stock opened at $129.13 on Wednesday. The firm has a market cap of $5.62 billion, a price-to-earnings ratio of 21.56, a price-to-earnings-growth ratio of 1.04 and a beta of 0.46. Stride, Inc. has a 52-week low of $56.17 and a 52-week high of $145.00. The company’s 50-day simple moving average is $130.65 and its 200-day simple moving average is $108.49. The company has a quick ratio of 5.93, a current ratio of 6.02 and a debt-to-equity ratio of 0.35.

Stride (NYSE:LRN) last released its earnings results on Tuesday, January 28th. The company reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.11. Stride had a return on equity of 22.42% and a net margin of 12.30%. As a group, equities research analysts anticipate that Stride, Inc. will post 6.67 earnings per share for the current year.

Analyst Ratings Changes

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

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.