Wells Fargo & Company MN Sells 3,628,196 Shares of Stride, Inc. (NYSE:LRN)

Wells Fargo & Company MN lowered its stake in Stride, Inc. (NYSE:LRN - Free Report) by 98.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 66,733 shares of the company's stock after selling 3,628,196 shares during the period. Wells Fargo & Company MN owned approximately 0.15% of Stride worth $6,936,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Stifel Financial Corp grew its holdings in Stride by 161.1% in the 3rd quarter. Stifel Financial Corp now owns 12,870 shares of the company's stock valued at $1,098,000 after buying an additional 7,940 shares in the last quarter. MML Investors Services LLC acquired a new stake in Stride in the 3rd quarter worth about $225,000. Geode Capital Management LLC boosted its holdings in Stride by 3.8% in the 3rd quarter. Geode Capital Management LLC now owns 964,701 shares of the company's stock valued at $82,315,000 after purchasing an additional 35,349 shares during the period. Sanctuary Advisors LLC grew its position in shares of Stride by 161.9% during the 3rd quarter. Sanctuary Advisors LLC now owns 20,859 shares of the company's stock worth $1,779,000 after purchasing an additional 12,896 shares in the last quarter. Finally, Tidal Investments LLC raised its position in shares of Stride by 64.0% in the third quarter. Tidal Investments LLC now owns 8,642 shares of the company's stock valued at $737,000 after buying an additional 3,374 shares in the last quarter. 98.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Stride Price Performance

Shares of LRN traded up $2.41 during mid-day trading on Wednesday, reaching $140.35. The company had a trading volume of 547,465 shares, compared to its average volume of 832,348. The company has a market capitalization of $6.11 billion, a price-to-earnings ratio of 23.41, a P/E/G ratio of 1.04 and a beta of 0.47. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.93 and a current ratio of 6.02. The company's 50 day simple moving average is $130.68 and its 200 day simple moving average is $113.89. Stride, Inc. has a 1-year low of $58.01 and a 1-year high of $145.92.

Stride (NYSE:LRN - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate 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 year.

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.