Clearbridge Investments LLC Reduces Stake in Stride, Inc. (NYSE:LRN)

Clearbridge Investments LLC lessened its stake in Stride, Inc. (NYSE:LRN - Free Report) by 3.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 175,622 shares of the company's stock after selling 5,653 shares during the period. Clearbridge Investments LLC owned about 0.40% of Stride worth $18,252,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. R Squared Ltd purchased a new stake in Stride during the fourth quarter worth $37,000. CIBC Private Wealth Group LLC boosted its stake in shares of 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 acquiring an additional 178 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake 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 acquiring an additional 592 shares in the last quarter. Nomura Asset Management Co. Ltd. acquired a new stake in shares of Stride during the 4th quarter valued at about $158,000. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in shares of Stride by 14.8% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 1,544 shares of the company's stock valued at $163,000 after purchasing an additional 199 shares in the last quarter. Institutional investors and hedge funds own 98.24% of the company's stock.

Analysts Set New Price Targets

LRN has been the topic of a number of recent analyst reports. Barrington Research reiterated an "outperform" rating and set a $140.00 price target on shares of Stride in a research report on Friday, March 14th. Morgan Stanley increased their target price on Stride from $94.00 to $109.00 and gave the company an "equal weight" rating in a research report on Thursday, December 12th. BMO Capital Markets upped their price objective on shares of Stride from $134.00 to $139.00 and gave the stock an "outperform" rating in a research report on Tuesday. Finally, Canaccord Genuity Group lifted their target price on shares of Stride from $135.00 to $145.00 and gave the company a "buy" rating in a research report on Tuesday, March 11th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $120.17.

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Stride Price Performance

LRN stock traded down $4.95 during midday trading on Friday, reaching $125.57. The stock had a trading volume of 1,105,886 shares, compared to its average volume of 829,379. Stride, Inc. has a 52-week low of $56.17 and a 52-week 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. The company's fifty day simple moving average is $131.27 and its 200 day simple moving average is $109.09. The company has a market cap of $5.47 billion, a price-to-earnings ratio of 20.96, a price-to-earnings-growth ratio of 1.04 and a beta of 0.47.

Stride (NYSE:LRN - Get Free Report) last issued its earnings results on Tuesday, January 28th. The company reported $2.03 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%. As a group, sell-side analysts predict that Stride, Inc. will post 6.67 earnings per share for the current fiscal year.

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.