Resona Asset Management Co. Ltd. Invests $416,000 in Stride, Inc. (NYSE:LRN)

Resona Asset Management Co. Ltd. bought a new stake in shares of Stride, Inc. (NYSE:LRN) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 4,005 shares of the company’s stock, valued at approximately $416,000.

Other hedge funds also recently modified their holdings of the company. R Squared Ltd bought a new position in Stride during the 4th quarter valued at $37,000. CIBC Private Wealth Group LLC lifted its position in shares of Stride by 85.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 386 shares of the company’s stock valued at $42,000 after purchasing an additional 178 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new position in Stride during the fourth quarter worth about $77,000. Smartleaf Asset Management LLC grew its position in Stride by 372.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 751 shares of the company’s stock worth $79,000 after purchasing an additional 592 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. bought a new stake in Stride in the 4th quarter worth about $158,000. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Analysts Set New Price Targets

LRN has been the topic of a number of research analyst reports. BMO Capital Markets boosted their target price on Stride from $134.00 to $139.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 1st. Canaccord Genuity Group boosted their price objective on Stride from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $140.00 target price on shares of Stride in a research report on Friday, March 14th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $120.17.

Stride Stock Performance

NYSE:LRN opened at $134.56 on Friday. The company has a market capitalization of $5.86 billion, a P/E ratio of 22.46, a P/E/G ratio of 1.04 and a beta of 0.47. The business has a fifty day simple moving average of $131.26 and a two-hundred day simple moving average of $111.33. 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.

Stride (NYSE:LRN) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.92 by $0.11. Stride had a return on equity of 22.42% and a net margin of 12.30%. On average, analysts expect that Stride, Inc. will post 6.67 earnings per share for the current year.

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.