Envestnet Asset Management Inc. Decreases Position in Stride, Inc. (NYSE:LRN)

Envestnet Asset Management Inc. cut its holdings in Stride, Inc. (NYSE:LRN - Free Report) by 9.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 141,884 shares of the company's stock after selling 13,987 shares during the quarter. Envestnet Asset Management Inc. owned 0.33% of Stride worth $14,746,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. R Squared Ltd bought a new position in shares of Stride during the fourth quarter valued at $37,000. CIBC Private Wealth Group LLC lifted its stake in Stride by 85.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 386 shares of the company's stock valued at $42,000 after acquiring an additional 178 shares during the period. C M Bidwell & Associates Ltd. purchased a new stake in shares of Stride during the 4th quarter valued at about $77,000. Smartleaf Asset Management LLC grew its stake in shares of Stride by 372.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 751 shares of the company's stock worth $79,000 after acquiring an additional 592 shares during the period. Finally, Nomura Asset Management Co. Ltd. purchased a new position in shares of Stride during the fourth quarter valued at approximately $158,000. 98.24% of the stock is currently owned by hedge funds and other institutional investors.

Stride Stock Performance

NYSE LRN traded up $4.85 on Tuesday, reaching $137.86. 612,146 shares of the stock were exchanged, compared to its average volume of 833,402. The company has a current ratio of 6.02, a quick ratio of 5.93 and a debt-to-equity ratio of 0.35. Stride, Inc. has a one year low of $58.01 and a one year high of $145.00. The firm has a market capitalization of $6.00 billion, a PE ratio of 23.02, a PEG ratio of 1.04 and a beta of 0.47. The company's 50-day simple moving average is $130.68 and its two-hundred day simple moving average is $113.89.

Stride (NYSE:LRN - Get Free Report) last released its earnings results on Tuesday, January 28th. The company reported $2.03 earnings per share 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 expect that Stride, Inc. will post 6.67 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

LRN has been the subject of a number of research reports. BMO Capital Markets boosted their target price on shares of Stride from $134.00 to $139.00 and gave the company an "outperform" rating in a research note on Tuesday, April 1st. Canaccord Genuity Group raised their target price on Stride from $135.00 to $145.00 and gave the stock a "buy" rating in a research report on Tuesday, March 11th. Finally, Barrington Research raised their price objective on shares of Stride from $140.00 to $150.00 and gave the stock an "outperform" rating in a report on Thursday, April 17th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Stride has a consensus rating of "Moderate Buy" and a consensus target price of $121.83.

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.