Stride, Inc. (NYSE:LRN) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its position in Stride, Inc. (NYSE:LRN) by 148.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,731 shares of the company’s stock after purchasing an additional 16,579 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.06% of Stride worth $1,646,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Ronald Blue Trust Inc. raised its stake in Stride by 348.1% in the third quarter. Ronald Blue Trust Inc. now owns 578 shares of the company’s stock valued at $26,000 after buying an additional 449 shares in the last quarter. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Stride during the 4th quarter worth about $29,000. McIlrath & Eck LLC purchased a new stake in Stride during the third quarter worth approximately $31,000. Nisa Investment Advisors LLC boosted its holdings in Stride by 156.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,310 shares of the company’s stock valued at $78,000 after purchasing an additional 800 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its stake in Stride by 20.5% in the third quarter. Nomura Asset Management Co. Ltd. now owns 3,142 shares of the company’s stock valued at $141,000 after purchasing an additional 534 shares during the last quarter. 98.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LRN. Citigroup upped their target price on shares of Stride from $70.00 to $75.00 and gave the company a “buy” rating in a report on Monday, January 29th. BMO Capital Markets boosted their target price on Stride from $71.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Barrington Research restated an “outperform” rating and set a $75.00 price target on shares of Stride in a research note on Wednesday, April 17th. Wedbush reiterated an “outperform” rating on shares of Stride in a research note on Wednesday, January 24th. Finally, StockNews.com raised shares of Stride from a “hold” rating to a “buy” rating in a report on Tuesday, April 2nd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $71.75.

Stride Stock Up 2.8 %

Stride stock opened at $58.14 on Tuesday. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 0.66 and a beta of 0.26. The company has a current ratio of 4.52, a quick ratio of 4.44 and a debt-to-equity ratio of 0.43. The stock has a 50 day moving average of $60.31 and a two-hundred day moving average of $58.16. Stride, Inc. has a twelve month low of $35.61 and a twelve month high of $69.70.

Stride (NYSE:LRN) last issued its quarterly earnings results on Tuesday, January 23rd. The company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.23. The firm had revenue of $504.87 million during the quarter, compared to the consensus estimate of $498.05 million. Stride had a return on equity of 17.77% and a net margin of 8.80%. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period last year, the company earned $1.19 earnings per share. As a group, research analysts expect that Stride, Inc. will post 4.31 earnings per share for the current year.

About Stride

Stride, Inc, a technology-based education service company, provides proprietary and third-party online curriculum, software systems, and educational services to facilitate individualized learning for students primarily in kindergarten through 12th grade (K-12) in the United States and internationally.