Stride, Inc. (NYSE:LRN) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC lowered its holdings in Stride, Inc. (NYSE:LRN - Free Report) by 3.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 175,622 shares of the company's stock after selling 5,653 shares during the quarter. Clearbridge Investments LLC owned approximately 0.40% of Stride worth $18,252,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. R Squared Ltd bought a new position in Stride in the fourth quarter worth approximately $37,000. CIBC Private Wealth Group LLC raised its position in shares of Stride by 85.6% in 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 lifted 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 purchasing an additional 592 shares during the last quarter. Nomura Asset Management Co. Ltd. bought a new stake in Stride during the fourth quarter valued at about $158,000. Finally, Skandinaviska Enskilda Banken AB publ grew its stake in Stride by 14.8% in the fourth 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 during the last quarter. Hedge funds and other institutional investors own 98.24% of the company's stock.

Analysts Set New Price Targets

LRN has been the subject of several analyst reports. Canaccord Genuity Group increased their price target 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. Barrington Research reissued an "outperform" rating and set a $140.00 target price on shares of Stride in a research report on Friday, March 14th. Morgan Stanley lifted their price target on shares of Stride from $94.00 to $109.00 and gave the stock an "equal weight" rating in a report on Thursday, December 12th. Finally, BMO Capital Markets upped their price target on Stride from $134.00 to $139.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 1st. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $120.17.

Stride Stock Performance

Shares of LRN stock traded up $1.14 during mid-day trading on Monday, reaching $126.15. The stock had a trading volume of 938,522 shares, compared to its average volume of 831,224. Stride, Inc. has a 1-year low of $56.17 and a 1-year high of $145.00. The firm has a market cap of $5.49 billion, a price-to-earnings ratio of 21.06, a PEG ratio of 1.04 and a beta of 0.47. 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 business's fifty day moving average is $131.42 and its 200-day moving average is $109.77.

Stride (NYSE:LRN - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $2.03 earnings per share 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%. On average, research analysts forecast that Stride, Inc. will post 6.67 earnings per share for the current 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.