Wellington Management Group LLP Acquires 332,098 Shares of Stride, Inc. (NYSE:LRN)

Wellington Management Group LLP grew its stake in Stride, Inc. (NYSE:LRN - Free Report) by 120.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 607,581 shares of the company's stock after purchasing an additional 332,098 shares during the period. Wellington Management Group LLP owned about 1.40% of Stride worth $63,146,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of LRN. Principal Financial Group Inc. grew its position in Stride by 293.1% in the 4th quarter. Principal Financial Group Inc. now owns 866,182 shares of the company's stock worth $90,024,000 after purchasing an additional 645,835 shares during the last quarter. Norges Bank acquired a new stake in Stride in the 4th quarter worth $45,306,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Stride by 783.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 453,139 shares of the company's stock worth $47,095,000 after acquiring an additional 401,838 shares during the period. William Blair Investment Management LLC lifted its holdings in shares of Stride by 18.0% during the 4th quarter. William Blair Investment Management LLC now owns 2,467,019 shares of the company's stock worth $256,397,000 after acquiring an additional 375,686 shares during the period. Finally, WCM Investment Management LLC bought a new position in shares of Stride during the 4th quarter worth about $20,850,000. 98.24% of the stock is currently owned by institutional investors and hedge funds.

Stride Trading Up 0.1 %

NYSE LRN traded up $0.09 during trading on Thursday, reaching $133.79. 104,833 shares of the stock traded hands, compared to its average volume of 833,188. The firm has a market cap of $5.83 billion, a price-to-earnings ratio of 22.37, a price-to-earnings-growth ratio of 1.04 and a beta of 0.47. The stock's 50-day moving average price is $131.38 and its 200 day moving average price is $110.65. The company has a quick ratio of 5.93, a current ratio of 6.02 and a debt-to-equity ratio of 0.35. Stride, Inc. has a fifty-two week low of $56.17 and a fifty-two week high of $145.00.

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

Analyst Upgrades and Downgrades

LRN has been the subject of a number of analyst reports. Canaccord Genuity Group raised their price objective on shares of Stride from $135.00 to $145.00 and gave the stock a "buy" rating in a report on Tuesday, March 11th. Barrington Research reissued an "outperform" rating and set a $140.00 price target on shares of Stride in a report on Friday, March 14th. Morgan Stanley lifted their price target on shares of Stride from $94.00 to $109.00 and gave the company an "equal weight" rating in a report on Thursday, December 12th. Finally, BMO Capital Markets lifted their price target on shares of Stride from $134.00 to $139.00 and gave the company an "outperform" rating in a report on Tuesday, April 1st. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $120.17.

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.