Geode Capital Management LLC Has $68.36 Million Stake in Stride, Inc. $LRN

Geode Capital Management LLC lifted its stake in Stride, Inc. (NYSE:LRN) by 0.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,052,612 shares of the company’s stock after purchasing an additional 8,919 shares during the period. Geode Capital Management LLC owned 2.47% of Stride worth $68,356,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Newbridge Financial Services Group Inc. acquired a new stake in shares of Stride in the second quarter valued at approximately $25,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Stride by 78.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the company’s stock valued at $28,000 after purchasing an additional 85 shares in the last quarter. Leonteq Securities AG acquired a new stake in shares of Stride in the fourth quarter valued at approximately $35,000. Sentry Investment Management LLC acquired a new stake in shares of Stride in the third quarter valued at approximately $42,000. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Stride by 62.7% in the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the company’s stock valued at $43,000 after purchasing an additional 131 shares in the last quarter. Institutional investors and hedge funds own 98.24% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LRN. BMO Capital Markets reissued a “market perform” rating on shares of Stride in a report on Tuesday, March 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Stride in a report on Friday, April 10th. Finally, Barrington Research reissued an “outperform” rating and issued a $125.00 price target on shares of Stride in a report on Thursday, April 16th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Stride presently has an average rating of “Hold” and an average price target of $109.75.

Stride Price Performance

LRN opened at $96.87 on Tuesday. The company has a fifty day moving average price of $92.54 and a two-hundred day moving average price of $81.20. The company has a debt-to-equity ratio of 0.29, a quick ratio of 6.14 and a current ratio of 6.21. Stride, Inc. has a 52 week low of $60.61 and a 52 week high of $171.17. The firm has a market capitalization of $4.12 billion, a PE ratio of 14.95, a P/E/G ratio of 0.61 and a beta of 0.10.

Stride (NYSE:LRN) last released its earnings results on Tuesday, April 28th. The company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.09. Stride had a net margin of 12.15% and a return on equity of 25.20%. The firm had revenue of $629.87 million during the quarter, compared to analyst estimates of $629.69 million. During the same quarter in the previous year, the business earned $2.02 EPS. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, analysts anticipate that Stride, Inc. will post 8.21 earnings per share for the current year.

About Stride

Stride, Inc (NYSE:LRN) is a technology-driven education company that designs and delivers online learning solutions for students and adult learners. Through long-term partnerships with state-authorized public school districts, Stride operates virtual academies that serve K-12 students across the United States. The company’s blended-learning model combines digital curriculum, live teaching support and data analytics to personalize instruction and monitor student progress.

In addition to its K-12 offerings, Stride provides a portfolio of career and workforce readiness programs under its Stride Career Prep division.