Cibc World Markets Corp Buys Shares of 3,984 Stride, Inc. (NYSE:LRN)

Cibc World Markets Corp purchased a new position in shares of Stride, Inc. (NYSE:LRN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 3,984 shares of the company's stock, valued at approximately $414,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Janus Henderson Group PLC lifted its stake in Stride by 1.1% in the third quarter. Janus Henderson Group PLC now owns 1,170,434 shares of the company's stock valued at $99,851,000 after acquiring an additional 13,050 shares during the last quarter. Geode Capital Management LLC grew its holdings 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 purchasing an additional 35,349 shares during the period. Principal Financial Group Inc. increased its position in Stride by 293.1% during the fourth quarter. Principal Financial Group Inc. now owns 866,182 shares of the company's stock worth $90,024,000 after buying an additional 645,835 shares during the last quarter. Rockefeller Capital Management L.P. raised its stake in Stride by 0.7% in the third quarter. Rockefeller Capital Management L.P. now owns 753,728 shares of the company's stock valued at $64,286,000 after buying an additional 5,278 shares during the period. Finally, Congress Asset Management Co. lifted its position in shares of Stride by 8.2% in the fourth quarter. Congress Asset Management Co. now owns 578,540 shares of the company's stock valued at $60,128,000 after buying an additional 43,829 shares during the last quarter. Institutional investors own 98.24% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

LRN has been the topic of a number of research analyst reports. Canaccord Genuity Group increased their price target on Stride from $135.00 to $145.00 and gave the company a "buy" rating in a research note on Tuesday, March 11th. 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 note on Thursday, December 12th. BMO Capital Markets upped their price target 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. Finally, Barrington Research restated an "outperform" rating and set a $140.00 price objective on shares of Stride in a research report on Friday, March 14th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Stride has a consensus rating of "Moderate Buy" and a consensus target price of $119.33.

Stride Stock Performance

NYSE:LRN traded up $2.25 during mid-day trading on Thursday, reaching $128.64. 501,507 shares of the company's stock were exchanged, compared to its average volume of 798,824. Stride, Inc. has a one year low of $56.17 and a one year high of $145.00. 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 business's fifty day simple moving average is $129.59 and its two-hundred day simple moving average is $106.94. The firm has a market capitalization of $5.60 billion, a PE ratio of 21.48, a price-to-earnings-growth ratio of 1.04 and a beta of 0.46.

Stride (NYSE:LRN - Get Free Report) last announced its earnings results on Tuesday, January 28th. The company reported $2.03 EPS for the quarter, topping 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%. Analysts anticipate that Stride, Inc. will post 6.67 earnings per share for the current fiscal year.

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.