Arizona State Retirement System Boosts Position in Stride, Inc. (NYSE:LRN)

Arizona State Retirement System boosted its holdings in shares of Stride, Inc. (NYSE:LRN) by 4.8% during the 1st quarter, Holdings Channel reports. The fund owned 12,504 shares of the company’s stock after buying an additional 572 shares during the period. Arizona State Retirement System’s holdings in Stride were worth $1,582,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bosun Asset Management LLC boosted its holdings in shares of Stride by 1.4% in the 4th quarter. Bosun Asset Management LLC now owns 8,292 shares of the company’s stock valued at $862,000 after buying an additional 111 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Stride by 140.5% in the 1st quarter. First Horizon Advisors Inc. now owns 267 shares of the company’s stock valued at $34,000 after buying an additional 156 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in Stride by 85.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 386 shares of the company’s stock worth $42,000 after purchasing an additional 178 shares in the last quarter. NDVR Inc. boosted its stake in Stride by 5.1% in the 4th quarter. NDVR Inc. now owns 3,762 shares of the company’s stock worth $391,000 after purchasing an additional 182 shares in the last quarter. Finally, Xponance Inc. boosted its stake in Stride by 6.2% in the 1st quarter. Xponance Inc. now owns 3,315 shares of the company’s stock worth $419,000 after purchasing an additional 194 shares in the last quarter. 98.24% of the stock is currently owned by institutional investors.

Stride Price Performance

NYSE:LRN opened at $133.23 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 5.61 and a quick ratio of 5.53. The firm has a market cap of $5.80 billion, a price-to-earnings ratio of 20.78, a price-to-earnings-growth ratio of 0.86 and a beta of 0.32. The company has a 50 day moving average price of $144.73 and a 200-day moving average price of $135.27. Stride, Inc. has a 1-year low of $63.25 and a 1-year high of $162.30.

Stride (NYSE:LRN) last posted its earnings results on Tuesday, April 29th. The company reported $2.02 earnings per share for the quarter, missing the consensus estimate of $2.09 by ($0.07). The firm had revenue of $613.38 million for the quarter, compared to analysts’ expectations of $591.15 million. Stride had a net margin of 13.10% and a return on equity of 23.36%. Stride’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period last year, the firm earned $1.60 earnings per share. Equities research analysts forecast that Stride, Inc. will post 6.67 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Wall Street Zen upgraded shares of Stride from a “hold” rating to a “buy” rating in a research note on Saturday, June 21st. William Blair reiterated an “outperform” rating on shares of Stride in a research note on Wednesday, April 30th. Barrington Research lifted their target price on shares of Stride from $150.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. BMO Capital Markets reissued an “outperform” rating on shares of Stride in a research report on Thursday, May 1st. Finally, Canaccord Genuity Group raised their price target on shares of Stride from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, April 28th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Stride presently has an average rating of “Moderate Buy” and a consensus price target of $126.83.

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.