Legal & General Group Plc Sells 20,681 Shares of Stride, Inc. $LRN

Legal & General Group Plc cut its position in shares of Stride, Inc. (NYSE:LRN) by 15.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 112,121 shares of the company’s stock after selling 20,681 shares during the quarter. Legal & General Group Plc owned about 0.26% of Stride worth $7,280,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Systematic Financial Management LP boosted its position in shares of Stride by 3.4% during the fourth quarter. Systematic Financial Management LP now owns 329,365 shares of the company’s stock valued at $21,386,000 after purchasing an additional 10,780 shares in the last quarter. Leonteq Securities AG purchased a new stake in shares of Stride in the fourth quarter worth $35,000. IFP Advisors Inc grew its stake in shares of Stride by 58.5% in the fourth quarter. IFP Advisors Inc now owns 2,208 shares of the company’s stock worth $143,000 after acquiring an additional 815 shares during the last quarter. Banque Cantonale Vaudoise grew its stake in shares of Stride by 125.9% in the fourth quarter. Banque Cantonale Vaudoise now owns 24,100 shares of the company’s stock worth $1,565,000 after acquiring an additional 13,430 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its stake in shares of Stride by 35.0% in the fourth quarter. Handelsbanken Fonder AB now owns 13,900 shares of the company’s stock worth $903,000 after acquiring an additional 3,600 shares during the last quarter. 98.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on LRN shares. Barrington Research reissued an “outperform” rating and issued a $125.00 target price on shares of Stride in a research note on Thursday, April 16th. BMO Capital Markets reissued a “market perform” rating on shares of Stride in a research note on Tuesday, March 3rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Stride in a research note on Friday, April 10th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $109.75.

Stride Trading Down 2.0%

Shares of NYSE:LRN opened at $99.97 on Friday. The company has a market cap of $4.25 billion, a P/E ratio of 15.43, a PEG ratio of 0.61 and a beta of 0.10. The company has a debt-to-equity ratio of 0.29, a current ratio of 6.21 and a quick ratio of 6.14. Stride, Inc. has a 1 year low of $60.61 and a 1 year high of $171.17. The stock’s fifty day moving average price is $92.36 and its 200-day moving average price is $80.84.

Stride (NYSE:LRN) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.09. The firm had revenue of $629.87 million for the quarter, compared to the consensus estimate of $629.69 million. Stride had a return on equity of 25.20% and a net margin of 12.15%.The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.02 earnings per share. Sell-side analysts expect that Stride, Inc. will post 8.21 earnings per share for the current year.

Stride Company Profile

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.