Truist Financial Corp Makes New Investment in Stride, Inc. (NYSE:LRN)

Truist Financial Corp purchased a new stake in Stride, Inc. (NYSE:LRN - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 2,908 shares of the company's stock, valued at approximately $302,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of LRN. Creative Planning lifted its holdings in shares of Stride by 42.2% during the third quarter. Creative Planning now owns 4,653 shares of the company's stock valued at $397,000 after purchasing an additional 1,380 shares during the last quarter. Private Advisor Group LLC purchased a new stake in shares of Stride during the third quarter valued at $210,000. International Assets Investment Management LLC lifted its holdings in shares of Stride by 8,431.7% during the third quarter. International Assets Investment Management LLC now owns 5,119 shares of the company's stock valued at $437,000 after purchasing an additional 5,059 shares during the last quarter. New York State Teachers Retirement System lifted its holdings in shares of Stride by 1.6% in the third quarter. New York State Teachers Retirement System now owns 22,523 shares of the company's stock valued at $1,921,000 after purchasing an additional 344 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of Stride by 1,220.0% in the third quarter. Farther Finance Advisors LLC now owns 3,498 shares of the company's stock worth $298,000 after buying an additional 3,233 shares during the period. 98.24% of the stock is owned by institutional investors and hedge funds.

Stride Stock Performance

LRN traded down $9.80 on Friday, hitting $123.36. 2,486,825 shares of the stock traded hands, compared to its average volume of 904,572. Stride, Inc. has a 52 week low of $56.17 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 firm has a market capitalization of $5.37 billion, a PE ratio of 20.59, a P/E/G ratio of 1.04 and a beta of 0.46. The business has a fifty day moving average price of $125.87 and a two-hundred day moving average price of $103.22.

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Stride (NYSE:LRN - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.11. Stride had a return on equity of 22.42% and a net margin of 12.30%. On average, research analysts predict that Stride, Inc. will post 6.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Morgan Stanley raised their price objective on Stride from $94.00 to $109.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 12th. Canaccord Genuity Group upped their price target on shares of Stride from $100.00 to $130.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. BMO Capital Markets raised their price target on shares of Stride from $122.00 to $134.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Finally, Barrington Research lifted their price target 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. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $116.83.

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.