Wakefield Asset Management LLLP Reduces Stock Position in Stride, Inc. (NYSE:LRN)

Wakefield Asset Management LLLP cut its position in shares of Stride, Inc. (NYSE:LRN - Free Report) by 27.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,240 shares of the company's stock after selling 3,886 shares during the quarter. Wakefield Asset Management LLLP's holdings in Stride were worth $1,064,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Asset Management One Co. Ltd. bought a new stake in Stride during the fourth quarter valued at $5,696,000. Congress Asset Management Co. lifted its stake in shares of Stride by 8.2% in the 4th quarter. Congress Asset Management Co. now owns 578,540 shares of the company's stock valued at $60,128,000 after purchasing an additional 43,829 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Stride by 61.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 190,431 shares of the company's stock valued at $20,250,000 after purchasing an additional 72,518 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in Stride during the third quarter worth approximately $430,000. Finally, Robeco Institutional Asset Management B.V. bought a new stake in Stride in the fourth quarter worth approximately $340,000. Institutional investors own 98.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LRN. Barrington Research increased their target price on shares of Stride from $130.00 to $140.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 29th. BMO Capital Markets raised their target price on Stride from $122.00 to $134.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Morgan Stanley upped their price target on Stride from $94.00 to $109.00 and gave the stock an "equal weight" rating in a research note on Thursday, December 12th. Finally, Canaccord Genuity Group raised their price objective on Stride from $100.00 to $130.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $116.83.

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Stride Stock Performance

Shares of NYSE:LRN traded up $1.54 during midday trading on Tuesday, reaching $140.98. The company had a trading volume of 661,064 shares, compared to its average volume of 863,046. The stock has a market cap of $6.14 billion, a P/E ratio of 23.52, a P/E/G ratio of 1.04 and a beta of 0.32. The company's 50 day moving average price is $123.53 and its 200 day moving average price is $101.89. 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 52-week low of $56.17 and a 52-week high of $145.00.

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%. As a group, sell-side analysts anticipate that Stride, Inc. will post 6.67 EPS for the current fiscal year.

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.