Allspring Global Investments Holdings LLC Purchases 1,287 Shares of Stride, Inc. (NYSE:LRN)

Allspring Global Investments Holdings LLC increased its position in shares of Stride, Inc. (NYSE:LRN) by 4.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,018 shares of the company’s stock after purchasing an additional 1,287 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Stride were worth $1,830,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Stride in the fourth quarter worth $25,594,000. Russell Investments Group Ltd. boosted its holdings in shares of Stride by 147.8% during the 4th quarter. Russell Investments Group Ltd. now owns 312,044 shares of the company’s stock valued at $18,526,000 after purchasing an additional 186,099 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Stride by 48.3% during the third quarter. Wellington Management Group LLP now owns 325,831 shares of the company’s stock valued at $14,672,000 after purchasing an additional 106,091 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Stride by 89.2% in the third quarter. Envestnet Asset Management Inc. now owns 118,047 shares of the company’s stock worth $5,316,000 after purchasing an additional 55,641 shares during the last quarter. Finally, Global Alpha Capital Management Ltd. purchased a new stake in shares of Stride in the fourth quarter worth about $2,125,000. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on LRN shares. StockNews.com downgraded shares of Stride from a “buy” rating to a “hold” rating in a report on Thursday, April 25th. Barrington Research reissued an “outperform” rating and set a $75.00 target price on shares of Stride in a research report on Wednesday, April 24th. Finally, BMO Capital Markets raised their price target on Stride from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $72.00.

Stride Price Performance

Shares of LRN opened at $68.74 on Wednesday. The business’s 50-day moving average is $69.30 and its two-hundred day moving average is $63.33. The company has a market capitalization of $2.97 billion, a P/E ratio of 16.14, a P/E/G ratio of 0.77 and a beta of 0.28. Stride, Inc. has a fifty-two week low of $35.61 and a fifty-two week high of $73.32. The company has a debt-to-equity ratio of 0.40, a quick ratio of 4.21 and a current ratio of 4.29.

Stride (NYSE:LRN) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.47 by $0.13. The company had revenue of $520.84 million for the quarter, compared to analyst estimates of $507.89 million. Stride had a return on equity of 18.29% and a net margin of 9.29%. Stride’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period last year, the company earned $1.30 earnings per share. Research analysts predict that Stride, Inc. will post 4.55 earnings per share for the current year.

Stride Company Profile

Stride, Inc, a technology-based education service company, provides proprietary and third-party online curriculum, software systems, and educational services to facilitate individualized learning for students primarily in kindergarten through 12th grade (K-12) in the United States and internationally.