Intech Investment Management LLC Has $7.01 Million Holdings in Stride, Inc. $LRN

Intech Investment Management LLC raised its stake in shares of Stride, Inc. (NYSE:LRN) by 42.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,065 shares of the company’s stock after buying an additional 14,125 shares during the period. Intech Investment Management LLC owned 0.11% of Stride worth $7,010,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Stride in the second quarter valued at approximately $92,858,000. Squarepoint Ops LLC grew its stake in Stride by 88.6% in the 2nd quarter. Squarepoint Ops LLC now owns 1,086,879 shares of the company’s stock valued at $157,804,000 after buying an additional 510,641 shares during the last quarter. Franklin Resources Inc. raised its holdings in Stride by 75.2% in the 2nd quarter. Franklin Resources Inc. now owns 426,153 shares of the company’s stock worth $61,873,000 after acquiring an additional 182,920 shares during the period. Invesco Ltd. raised its holdings in Stride by 10.3% in the 2nd quarter. Invesco Ltd. now owns 1,782,020 shares of the company’s stock worth $258,731,000 after acquiring an additional 165,775 shares during the period. Finally, Westfield Capital Management Co. LP acquired a new position in Stride during the 2nd quarter worth $18,389,000. Institutional investors and hedge funds own 98.24% of the company’s stock.

Stride Stock Down 1.6%

Shares of LRN opened at $84.53 on Friday. Stride, Inc. has a 12 month low of $60.61 and a 12 month high of $171.17. The company has a quick ratio of 7.19, a current ratio of 7.27 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average price of $76.00 and a two-hundred day moving average price of $103.11. The stock has a market cap of $3.60 billion, a price-to-earnings ratio of 12.87, a P/E/G ratio of 0.51 and a beta of 0.10.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Barrington Research reissued an “outperform” rating and set a $125.00 price objective on shares of Stride in a research report on Wednesday, January 28th. Weiss Ratings restated a “hold (c+)” rating on shares of Stride in a report on Monday, December 29th. BMO Capital Markets reiterated a “market perform” rating and issued a $94.00 target price on shares of Stride in a research note on Wednesday, January 28th. Morgan Stanley lowered their price target on Stride from $130.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 17th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $125.00 price target on shares of Stride in a report on Wednesday, January 28th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Stride presently has an average rating of “Hold” and an average target price of $109.75.

About Stride

Stride, Inc (NYSE:LRN) is a technology-driven education company that designs and delivers online learning solutions for students and adult learners. Through long-term partnerships with state-authorized public school districts, Stride operates virtual academies that serve K-12 students across the United States. The company’s blended-learning model combines digital curriculum, live teaching support and data analytics to personalize instruction and monitor student progress.

In addition to its K-12 offerings, Stride provides a portfolio of career and workforce readiness programs under its Stride Career Prep division.