Sequoia Financial Advisors LLC Buys New Shares in Stride, Inc. (NYSE:LRN)

Sequoia Financial Advisors LLC purchased a new position in Stride, Inc. (NYSE:LRN) in the fourth quarter, Holdings Channel.com reports. The firm purchased 2,042 shares of the company’s stock, valued at approximately $212,000.

Several other large investors have also made changes to their positions in LRN. Principal Financial Group Inc. grew its position in shares of Stride by 293.1% during the fourth quarter. Principal Financial Group Inc. now owns 866,182 shares of the company’s stock worth $90,024,000 after purchasing an additional 645,835 shares in the last quarter. Loomis Sayles & Co. L P purchased a new stake in Stride during the 3rd quarter valued at approximately $21,044,000. Wellington Management Group LLP grew its holdings in Stride by 416.7% during the 3rd quarter. Wellington Management Group LLP now owns 275,483 shares of the company’s stock valued at $23,501,000 after buying an additional 222,165 shares in the last quarter. WCM Investment Management LLC bought a new stake in shares of Stride during the fourth quarter valued at approximately $20,850,000. Finally, Weiss Asset Management LP purchased a new position in shares of Stride in the third quarter worth $13,465,000. 98.24% of the stock is currently owned by hedge funds and other institutional investors.

Stride Trading Up 1.3 %

Shares of LRN stock opened at $122.95 on Friday. The company has a market cap of $5.35 billion, a PE ratio of 20.53, a price-to-earnings-growth ratio of 1.04 and a beta of 0.46. Stride, Inc. has a 1 year low of $56.17 and a 1 year high of $145.00. The stock’s 50 day simple moving average is $128.40 and its two-hundred day simple moving average is $105.53. 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 (NYSE:LRN) last released its quarterly earnings results on Tuesday, January 28th. The company reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.11. Stride had a return on equity of 22.42% and a net margin of 12.30%. Research analysts predict that Stride, Inc. will post 6.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on LRN shares. BMO Capital Markets raised their target price on shares of Stride from $122.00 to $134.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Barrington Research reaffirmed an “outperform” rating and issued a $140.00 target price on shares of Stride in a report on Friday, March 14th. Morgan Stanley increased their price target on Stride from $94.00 to $109.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Finally, Canaccord Genuity Group lifted 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. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Stride currently has an average rating of “Moderate Buy” and an average price target of $119.33.

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.