Congress Asset Management Co. Raises Holdings in Stride, Inc. (NYSE:LRN)

Congress Asset Management Co. raised its holdings in shares of Stride, Inc. (NYSE:LRN - Free Report) by 8.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 578,540 shares of the company's stock after purchasing an additional 43,829 shares during the quarter. Congress Asset Management Co. owned 1.33% of Stride worth $60,128,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. R Squared Ltd bought a new stake in shares of Stride during the fourth quarter worth $37,000. TD Private Client Wealth LLC raised its holdings in shares of Stride by 27.7% in the third quarter. TD Private Client Wealth LLC now owns 1,962 shares of the company's stock valued at $167,000 after acquiring an additional 426 shares in the last quarter. KBC Group NV raised its holdings in shares of Stride by 68.5% in the fourth quarter. KBC Group NV now owns 1,891 shares of the company's stock valued at $197,000 after acquiring an additional 769 shares in the last quarter. Retirement Guys Formula LLC bought a new stake in shares of Stride in the third quarter valued at about $203,000. Finally, Sheets Smith Wealth Management bought a new stake in shares of Stride in the fourth quarter valued at about $205,000. 98.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on LRN. Citigroup lifted their price objective on Stride from $90.00 to $94.00 and gave the company a "neutral" rating in a report on Tuesday, October 29th. BMO Capital Markets lifted their price objective on Stride from $122.00 to $134.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Barrington Research lifted their price objective on Stride from $130.00 to $140.00 and gave the company an "outperform" rating in a report on Wednesday, January 29th. Morgan Stanley lifted their target price on Stride from $94.00 to $109.00 and gave the company an "equal weight" rating in a research note on Thursday, December 12th. Finally, Canaccord Genuity Group lifted their target price on Stride from $100.00 to $130.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Stride presently has an average rating of "Moderate Buy" and a consensus price target of $116.83.

Stride Stock Down 0.2 %

LRN traded down $0.30 on Wednesday, hitting $141.85. The company had a trading volume of 415,680 shares, compared to its average volume of 917,327. The stock has a fifty day moving average price of $117.42 and a 200-day moving average price of $97.76. Stride, Inc. has a 12-month low of $54.81 and a 12-month 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 stock has a market capitalization of $6.18 billion, a price-to-earnings ratio of 23.68, a P/E/G ratio of 1.05 and a beta of 0.32.

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 analysts' consensus estimates of $1.92 by $0.11. Stride had a return on equity of 22.42% and a net margin of 12.30%. Analysts predict that Stride, Inc. will post 6.67 EPS 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.