Blueshift Asset Management LLC Invests $452,000 in Stride, Inc. (NYSE:LRN)

Blueshift Asset Management LLC bought a new position in shares of Stride, Inc. (NYSE:LRN) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,350 shares of the company’s stock, valued at approximately $452,000.

Other hedge funds also recently modified their holdings of the company. Asset Management One Co. Ltd. acquired a new stake in shares of Stride during the 4th quarter worth about $5,696,000. Congress Asset Management Co. lifted its stake in shares of Stride by 8.2% during the 4th quarter. Congress Asset Management Co. now owns 578,540 shares of the company’s stock worth $60,128,000 after buying an additional 43,829 shares during the last quarter. Aigen Investment Management LP acquired a new stake in shares of Stride during the 4th quarter worth about $995,000. Truist Financial Corp acquired a new stake in Stride in the 4th quarter worth about $302,000. Finally, Allspring Global Investments Holdings LLC raised its stake in Stride by 61.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 190,431 shares of the company’s stock worth $20,250,000 after purchasing an additional 72,518 shares in the last quarter. Institutional investors and hedge funds own 98.24% of the company’s stock.

Analyst Upgrades and Downgrades

LRN has been the subject of several analyst reports. Barrington Research reiterated an “outperform” rating and issued a $140.00 price objective on shares of Stride in a research note on Friday, March 14th. BMO Capital Markets lifted their price objective on shares of Stride from $122.00 to $134.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Canaccord Genuity Group lifted their price objective on shares of Stride from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, March 11th. Finally, Morgan Stanley lifted their price objective 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 investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $119.33.

Stride Price Performance

Shares of NYSE:LRN opened at $122.95 on Friday. The firm has a 50 day moving average of $128.40 and a 200-day moving average of $105.53. The stock has a market capitalization of $5.35 billion, a PE ratio of 20.53, a PEG ratio of 1.04 and a beta of 0.46. The company has a current ratio of 6.02, a quick ratio of 5.93 and a debt-to-equity ratio of 0.35. Stride, Inc. has a 12 month low of $56.17 and a 12 month high of $145.00.

Stride (NYSE:LRN) last issued its earnings results on Tuesday, January 28th. The company reported $2.03 EPS for the quarter, beating the consensus estimate of $1.92 by $0.11. Stride had a net margin of 12.30% and a return on equity of 22.42%. On average, equities research analysts predict that Stride, Inc. will post 6.67 EPS for the current fiscal year.

Stride Company 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.