Clearbridge Investments LLC Sells 5,653 Shares of Stride, Inc. (NYSE:LRN)

Clearbridge Investments LLC decreased its holdings in shares of Stride, Inc. (NYSE:LRN) by 3.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 175,622 shares of the company’s stock after selling 5,653 shares during the period. Clearbridge Investments LLC owned 0.40% of Stride worth $18,252,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Principal Financial Group Inc. raised its stake in Stride by 293.1% during the fourth quarter. Principal Financial Group Inc. now owns 866,182 shares of the company’s stock valued at $90,024,000 after buying an additional 645,835 shares during the last quarter. Norges Bank purchased a new position in Stride in the 4th quarter worth about $45,306,000. Arrowstreet Capital Limited Partnership lifted its stake in Stride by 783.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 453,139 shares of the company’s stock valued at $47,095,000 after acquiring an additional 401,838 shares during the period. William Blair Investment Management LLC boosted its holdings in shares of Stride by 18.0% during the 4th quarter. William Blair Investment Management LLC now owns 2,467,019 shares of the company’s stock valued at $256,397,000 after acquiring an additional 375,686 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Stride by 416.7% during the third quarter. Wellington Management Group LLP now owns 275,483 shares of the company’s stock valued at $23,501,000 after purchasing an additional 222,165 shares during the last quarter. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on LRN shares. Canaccord Genuity Group raised their price objective on Stride from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, March 11th. Barrington Research restated an “outperform” rating and issued a $140.00 price target on shares of Stride in a research report on Friday, March 14th. BMO Capital Markets upped their price objective on Stride from $134.00 to $139.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Morgan Stanley lifted their price target on shares of Stride from $94.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $120.17.

Stride Price Performance

Shares of LRN opened at $131.10 on Thursday. 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 1-year low of $56.17 and a 1-year high of $145.00. The firm has a fifty day moving average price of $130.92 and a 200 day moving average price of $108.64. The stock has a market cap of $5.71 billion, a PE ratio of 21.89, a price-to-earnings-growth ratio of 1.04 and a beta of 0.46.

Stride (NYSE:LRN) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.92 by $0.11. Stride had a net margin of 12.30% and a return on equity of 22.42%. As a group, sell-side analysts anticipate 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.