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

Wakefield Asset Management LLLP decreased its holdings in shares of Stride, Inc. (NYSE:LRN) by 27.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 10,240 shares of the company’s stock after selling 3,886 shares during the period. Wakefield Asset Management LLLP’s holdings in Stride were worth $1,064,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Asset Management One Co. Ltd. bought a new position in Stride in the fourth quarter worth approximately $5,696,000. Congress Asset Management Co. lifted its stake in shares of Stride by 8.2% during the 4th quarter. Congress Asset Management Co. now owns 578,540 shares of the company’s stock worth $60,128,000 after purchasing an additional 43,829 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Stride by 61.5% during the fourth 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. purchased a new position in Stride in the third quarter valued at about $430,000. Finally, Robeco Institutional Asset Management B.V. bought a new position in Stride in the fourth quarter worth about $340,000. Institutional investors own 98.24% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LRN. Barrington Research lifted their price objective on shares of Stride from $130.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. BMO Capital Markets lifted their price target on shares of Stride from $122.00 to $134.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Morgan Stanley increased their price objective on Stride from $94.00 to $109.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Finally, Canaccord Genuity Group boosted their target price on Stride from $100.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $116.83.

Stride Price Performance

Shares of LRN opened at $134.49 on Friday. The firm has a market capitalization of $5.86 billion, a PE ratio of 22.45, a price-to-earnings-growth ratio of 1.04 and a beta of 0.32. The company has a debt-to-equity ratio of 0.35, a current ratio of 6.02 and a quick ratio of 5.93. The company’s fifty day moving average price is $122.20 and its 200-day moving average price is $100.83. Stride, Inc. has a 1-year low of $56.17 and a 1-year high of $145.00.

Stride (NYSE:LRN) last announced its quarterly earnings data 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 return on equity of 22.42% and a net margin of 12.30%. On average, equities research analysts predict that Stride, Inc. will post 6.67 EPS for the current year.

Stride 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.