Longboard Asset Management LP Takes Position in Stride, Inc. (NYSE:LRN)

Longboard Asset Management LP acquired a new stake in Stride, Inc. (NYSE:LRN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,178 shares of the company's stock, valued at approximately $226,000.

Several other large investors have also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in shares of Stride during the 4th quarter worth $37,000. Mendota Financial Group LLC purchased a new stake in Stride in the 3rd quarter valued at approximately $86,000. KBC Group NV grew its holdings in Stride by 68.5% during the 4th quarter. KBC Group NV now owns 1,891 shares of the company's stock valued at $197,000 after buying an additional 769 shares during the last quarter. TD Private Client Wealth LLC increased its position in Stride by 27.7% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,962 shares of the company's stock worth $167,000 after purchasing an additional 426 shares in the last quarter. Finally, Sheets Smith Wealth Management acquired a new position in shares of Stride in the fourth quarter valued at approximately $205,000. 98.24% of the stock is owned by hedge funds and other institutional investors.

Stride Stock Performance

NYSE LRN traded up $3.17 during trading hours on Friday, reaching $142.45. The company's stock had a trading volume of 1,447,589 shares, compared to its average volume of 1,010,275. The stock has a market cap of $6.20 billion, a PE ratio of 23.78, a PEG ratio of 1.01 and a beta of 0.32. Stride, Inc. has a 52 week low of $54.81 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 business has a 50-day simple moving average of $113.03 and a 200 day simple moving average of $94.15.

Stride (NYSE:LRN - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $2.03 earnings per share for the quarter, beating 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%. Equities research analysts predict that Stride, Inc. will post 6.67 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on LRN shares. StockNews.com lowered Stride from a "buy" rating to a "hold" rating in a research note on Wednesday, October 23rd. Citigroup upped their price target on shares of Stride from $90.00 to $94.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 29th. Barrington Research increased their price objective on shares of Stride from $130.00 to $140.00 and gave the company an "outperform" rating in a research report on Wednesday, January 29th. Morgan Stanley raised 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, BMO Capital Markets lifted their price target on shares of Stride from $122.00 to $134.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Three 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 an average price target of $116.83.

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.