Cibc World Markets Corp Acquires New Stake in Stride, Inc. (NYSE:LRN)

Cibc World Markets Corp acquired a new stake in shares of Stride, Inc. (NYSE:LRN) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 3,984 shares of the company’s stock, valued at approximately $414,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. R Squared Ltd bought a new position in Stride during the 4th quarter valued at approximately $37,000. Smartleaf Asset Management LLC increased its position in Stride by 372.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 751 shares of the company’s stock valued at $79,000 after buying an additional 592 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its position in Stride by 14.8% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 1,544 shares of the company’s stock valued at $163,000 after buying an additional 199 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Stride during the 4th quarter valued at approximately $165,000. Finally, TD Private Client Wealth LLC increased its position in Stride by 27.7% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,962 shares of the company’s stock valued at $167,000 after buying an additional 426 shares in the last quarter. Institutional investors own 98.24% of the company’s stock.

Stride Stock Performance

Shares of LRN opened at $121.97 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 6.02 and a quick ratio of 5.93. Stride, Inc. has a one year low of $56.17 and a one year high of $145.00. The firm has a market capitalization of $5.31 billion, a P/E ratio of 20.36, a PEG ratio of 1.04 and a beta of 0.46. The business has a fifty day moving average of $128.61 and a 200 day moving average of $106.15.

Stride (NYSE:LRN) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $2.03 EPS for the quarter, topping 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%. As a group, sell-side analysts anticipate that Stride, Inc. will post 6.67 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on LRN shares. Canaccord Genuity Group raised their price objective on Stride from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. Morgan Stanley lifted their target price on Stride from $94.00 to $109.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Barrington Research reissued an “outperform” rating and issued a $140.00 target price on shares of Stride in a report on Friday, March 14th. Finally, BMO Capital Markets lifted their target price on Stride from $122.00 to $134.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $119.33.

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.