Bayforest Capital Ltd Takes $644,000 Position in Stride, Inc. $LRN

Bayforest Capital Ltd purchased a new stake in shares of Stride, Inc. (NYSE:LRN - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 5,087 shares of the company's stock, valued at approximately $644,000.

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Several other institutional investors have also made changes to their positions in LRN. Congress Asset Management Co. lifted its holdings in shares of Stride by 102.2% during the 1st quarter. Congress Asset Management Co. now owns 1,169,748 shares of the company's stock valued at $147,973,000 after buying an additional 591,208 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Stride by 14,892.4% in the 1st quarter. GAMMA Investing LLC now owns 370,013 shares of the company's stock worth $46,807,000 after purchasing an additional 367,545 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Stride by 120.6% in the 4th quarter. Wellington Management Group LLP now owns 607,581 shares of the company's stock worth $63,146,000 after purchasing an additional 332,098 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Stride by 27.6% in the 4th quarter. Janus Henderson Group PLC now owns 1,493,709 shares of the company's stock worth $155,251,000 after purchasing an additional 323,275 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in Stride in the 1st quarter worth approximately $38,835,000. 98.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LRN has been the subject of several analyst reports. Barrington Research boosted their target price on Stride from $170.00 to $185.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Morgan Stanley boosted their target price on Stride from $148.00 to $159.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Finally, Wall Street Zen lowered Stride from a "buy" rating to a "hold" rating in a report on Friday, August 22nd. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $146.40.

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Get Our Latest Analysis on LRN

Stride Stock Up 2.2%

Shares of LRN stock opened at $164.23 on Tuesday. Stride, Inc. has a 12 month low of $63.25 and a 12 month high of $171.17. The firm has a market cap of $7.17 billion, a PE ratio of 27.28, a price-to-earnings-growth ratio of 0.94 and a beta of 0.22. The stock has a 50 day moving average of $146.27 and a 200-day moving average of $141.89. The company has a quick ratio of 5.27, a current ratio of 5.39 and a debt-to-equity ratio of 0.31.

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Stride (NYSE:LRN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $2.29 EPS for the quarter, topping analysts' consensus estimates of $1.83 by $0.46. Stride had a return on equity of 25.51% and a net margin of 11.97%.The company had revenue of $653.65 million during the quarter, compared to analyst estimates of $626.23 million. During the same period in the previous year, the company earned $1.42 earnings per share. The company's quarterly revenue was up 22.4% compared to the same quarter last year. On average, equities analysts predict that Stride, Inc. will post 6.67 EPS for the current year.

Insider Activity at Stride

In other news, CEO James Jeaho Rhyu sold 13,961 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $162.66, for a total transaction of $2,270,896.26. Following the completion of the transaction, the chief executive officer directly owned 706,353 shares in the company, valued at $114,895,378.98. The trade was a 1.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.00% of the stock is currently owned by company insiders.

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.

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