Bright Futures Wealth Management LLC. Cuts Holdings in Stride, Inc. (NYSE:LRN)

Bright Futures Wealth Management LLC. cut its stake in shares of Stride, Inc. (NYSE:LRN - Free Report) by 45.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,073 shares of the company's stock after selling 6,617 shares during the quarter. Bright Futures Wealth Management LLC.'s holdings in Stride were worth $839,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of LRN. SG Americas Securities LLC increased its position in shares of Stride by 53.8% during the third quarter. SG Americas Securities LLC now owns 2,511 shares of the company's stock worth $214,000 after acquiring an additional 878 shares during the period. Creative Planning boosted its stake in shares of Stride by 42.2% during the third quarter. Creative Planning now owns 4,653 shares of the company's stock valued at $397,000 after purchasing an additional 1,380 shares in the last quarter. Bleakley Financial Group LLC bought a new position in shares of Stride during the third quarter valued at approximately $329,000. Inspire Advisors LLC boosted its stake in shares of Stride by 10.3% during the third quarter. Inspire Advisors LLC now owns 7,360 shares of the company's stock valued at $628,000 after purchasing an additional 689 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Stride by 634.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 117,913 shares of the company's stock valued at $10,059,000 after purchasing an additional 101,869 shares in the last quarter. 98.24% of the stock is owned by hedge funds and other institutional investors.

Stride Stock Performance

Shares of NYSE LRN traded up $1.71 during midday trading on Tuesday, reaching $141.91. The company had a trading volume of 575,437 shares, compared to its average volume of 933,511. The business's 50-day simple moving average is $117.42 and its 200 day simple moving average is $97.76. The stock has a market cap of $6.18 billion, a P/E ratio of 23.69, a P/E/G ratio of 1.04 and a beta of 0.32. Stride, Inc. has a 1 year low of $54.81 and a 1 year high of $145.00. The company has a current ratio of 6.02, a quick ratio of 5.93 and a debt-to-equity ratio of 0.35.

Stride (NYSE:LRN - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $2.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LRN has been the topic of a number of recent research reports. StockNews.com downgraded shares of Stride from a "buy" rating to a "hold" rating in a research note on Wednesday, October 23rd. Morgan Stanley increased their price objective on shares of Stride from $94.00 to $109.00 and gave the company an "equal weight" rating in a research note on Thursday, December 12th. Barrington Research increased their price objective on shares of Stride from $130.00 to $140.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. Canaccord Genuity Group raised their target price on shares of Stride from $100.00 to $130.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Finally, BMO Capital Markets raised their target price on shares of Stride from $122.00 to $134.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $116.83.

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.