Allspring Global Investments Holdings LLC Grows Stake in Stride, Inc. (NYSE:LRN)

Allspring Global Investments Holdings LLC increased its stake in Stride, Inc. (NYSE:LRN - Free Report) by 634.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 117,913 shares of the company's stock after purchasing an additional 101,869 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.27% of Stride worth $10,059,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of LRN. William Blair Investment Management LLC raised its stake in Stride by 20.1% in the second quarter. William Blair Investment Management LLC now owns 2,122,102 shares of the company's stock valued at $149,608,000 after buying an additional 355,614 shares during the period. Janus Henderson Group PLC increased its holdings in Stride by 2.7% in the 1st quarter. Janus Henderson Group PLC now owns 1,154,995 shares of the company's stock worth $72,821,000 after purchasing an additional 30,854 shares in the last quarter. Swedbank AB bought a new stake in Stride during the 1st quarter worth approximately $60,385,000. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Stride in the second quarter worth $43,387,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Stride by 641.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 508,444 shares of the company's stock valued at $32,058,000 after buying an additional 439,911 shares during the period. 98.24% of the stock is owned by institutional investors and hedge funds.

Stride Trading Down 1.2 %

Shares of NYSE LRN traded down $1.08 during trading hours on Friday, hitting $91.25. 1,634,159 shares of the company traded hands, compared to its average volume of 835,550. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of 21.42, a price-to-earnings-growth ratio of 0.64 and a beta of 0.26. The company has a current ratio of 5.10, a quick ratio of 4.95 and a debt-to-equity ratio of 0.38. Stride, Inc. has a 12 month low of $51.75 and a 12 month high of $92.75. The company's 50 day moving average price is $79.68 and its 200 day moving average price is $73.18.

Stride (NYSE:LRN - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.72. Stride had a net margin of 11.38% and a return on equity of 21.76%. The firm had revenue of $551.08 million for the quarter, compared to the consensus estimate of $504.29 million. During the same quarter in the prior year, the company posted $0.11 earnings per share. The company's revenue for the quarter was up 14.8% compared to the same quarter last year. On average, equities research analysts anticipate that Stride, Inc. will post 5.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Canaccord Genuity Group raised their target price on Stride from $94.00 to $100.00 and gave the stock a "buy" rating in a research note on Wednesday. Citigroup cut shares of Stride from a "buy" rating to a "neutral" rating and boosted their price objective for the company from $77.00 to $90.00 in a research note on Tuesday, August 20th. Canaccord Genuity Group assumed coverage on shares of Stride in a research report on Thursday, August 8th. They issued a "buy" rating and a $94.00 price objective on the stock. Barrington Research upped their price objective on Stride from $90.00 to $100.00 and gave the stock an "outperform" rating in a report on Wednesday. Finally, BMO Capital Markets upped their price target on shares of Stride from $84.00 to $88.00 and gave the company an "outperform" rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $89.50.

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.