Canada Pension Plan Investment Board Cuts Holdings in Stride, Inc. (NYSE:LRN)

Canada Pension Plan Investment Board reduced its stake in shares of Stride, Inc. (NYSE:LRN - Free Report) by 66.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,500 shares of the company's stock after selling 17,200 shares during the quarter. Canada Pension Plan Investment Board's holdings in Stride were worth $883,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Mutual of America Capital Management LLC increased its holdings in Stride by 1.5% during the fourth quarter. Mutual of America Capital Management LLC now owns 6,492 shares of the company's stock valued at $675,000 after buying an additional 93 shares during the period. Arizona State Retirement System grew its holdings in Stride by 0.8% in the fourth quarter. Arizona State Retirement System now owns 11,932 shares of the company's stock worth $1,240,000 after purchasing an additional 99 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in Stride by 0.5% in the fourth quarter. Louisiana State Employees Retirement System now owns 20,700 shares of the company's stock worth $2,151,000 after purchasing an additional 100 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in Stride by 1.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 10,074 shares of the company's stock worth $1,047,000 after purchasing an additional 100 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in Stride by 3.6% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,232 shares of the company's stock worth $336,000 after purchasing an additional 113 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 equities analysts have issued reports on the stock. BMO Capital Markets lifted their price target on shares of Stride from $134.00 to $139.00 and gave the stock an "outperform" rating in a report on Tuesday, April 1st. Barrington Research lifted their price target on shares of Stride from $140.00 to $150.00 and gave the stock an "outperform" rating in a report on Thursday, April 17th. Finally, Canaccord Genuity Group lifted their price target on shares of Stride from $145.00 to $155.00 and gave the stock a "buy" rating in a report on Monday. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $123.50.

Stride Stock Performance

Shares of NYSE:LRN traded up $0.26 on Monday, hitting $141.25. 859,535 shares of the company were exchanged, compared to its average volume of 823,676. Stride, Inc. has a 1-year low of $63.25 and a 1-year high of $146.49. The stock's 50 day moving average price is $130.65 and its 200 day moving average price is $115.50. The company has a current ratio of 6.02, a quick ratio of 5.93 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $6.15 billion, a P/E ratio of 23.58, a price-to-earnings-growth ratio of 1.04 and a beta of 0.47.

Stride (NYSE:LRN - Get Free Report) last posted its earnings results on Tuesday, January 28th. The company reported $2.03 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts predict that Stride, Inc. will post 6.67 EPS for the current year.

Stride Company 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.