Alliancebernstein L.P. Reduces Stock Position in Stride, Inc. (NYSE:LRN)

Alliancebernstein L.P. reduced its stake in shares of Stride, Inc. (NYSE:LRN - Free Report) by 46.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,373 shares of the company's stock after selling 41,322 shares during the quarter. Alliancebernstein L.P. owned approximately 0.11% of Stride worth $4,923,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in LRN. R Squared Ltd bought a new position in Stride in the 4th quarter worth about $37,000. CIBC Private Wealth Group LLC increased its holdings in Stride by 85.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 386 shares of the company's stock worth $42,000 after purchasing an additional 178 shares during the period. C M Bidwell & Associates Ltd. purchased a new stake in shares of Stride in the 4th quarter worth $77,000. Smartleaf Asset Management LLC grew its position in shares of Stride by 372.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 751 shares of the company's stock worth $79,000 after buying an additional 592 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. purchased a new position in shares of Stride during the fourth quarter valued at $158,000. 98.24% of the stock is currently owned by institutional investors.

Stride Stock Up 0.3 %

NYSE:LRN traded up $0.41 during mid-day trading on Friday, hitting $135.87. 523,289 shares of the company's stock traded hands, compared to its average volume of 834,910. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.93 and a current ratio of 6.02. The company has a market capitalization of $5.92 billion, a P/E ratio of 22.68, a P/E/G ratio of 1.04 and a beta of 0.47. The company has a fifty day moving average of $130.86 and a 200 day moving average of $112.93. Stride, Inc. has a twelve month low of $56.17 and a twelve month high of $145.00.

Stride (NYSE:LRN - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.11. Stride had a net margin of 12.30% and a return on equity of 22.42%. On average, analysts forecast that Stride, Inc. will post 6.67 EPS for the current year.

Analyst Upgrades and Downgrades

LRN has been the topic of a number of research reports. Barrington Research raised their target price on shares of Stride from $140.00 to $150.00 and gave the company an "outperform" rating in a research report on Thursday. BMO Capital Markets boosted their price objective on shares of Stride from $134.00 to $139.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 1st. Finally, Canaccord Genuity Group upped their target price on Stride from $135.00 to $145.00 and gave the stock a "buy" rating in a report on Tuesday, March 11th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $121.83.

Stride 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.