California State Teachers Retirement System Raises Stake in Stride, Inc. $LRN

California State Teachers Retirement System boosted its stake in Stride, Inc. (NYSE:LRN) by 23.7% in the 1st quarter, Holdings Channel reports. The firm owned 50,772 shares of the company’s stock after acquiring an additional 9,712 shares during the quarter. California State Teachers Retirement System’s holdings in Stride were worth $4,477,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in LRN. Empowered Funds LLC grew its stake in Stride by 6.7% during the first quarter. Empowered Funds LLC now owns 29,607 shares of the company’s stock valued at $2,610,000 after acquiring an additional 1,856 shares in the last quarter. Quantinno Capital Management LP boosted its stake in Stride by 114.4% during the first quarter. Quantinno Capital Management LP now owns 57,849 shares of the company’s stock valued at $5,101,000 after buying an additional 30,866 shares during the period. SummitTX Capital L.P. boosted its stake in Stride by 51.8% during the first quarter. SummitTX Capital L.P. now owns 26,626 shares of the company’s stock valued at $2,348,000 after buying an additional 9,087 shares during the period. OMERS ADMINISTRATION Corp grew its position in Stride by 11.4% during the first quarter. OMERS ADMINISTRATION Corp now owns 7,803 shares of the company’s stock worth $688,000 after buying an additional 800 shares in the last quarter. Finally, Rice Hall James & Associates LLC grew its position in Stride by 2.5% during the first quarter. Rice Hall James & Associates LLC now owns 438,440 shares of the company’s stock worth $38,657,000 after buying an additional 10,657 shares in the last quarter. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on LRN shares. BMO Capital Markets reaffirmed a “market perform” rating on shares of Stride in a report on Monday, June 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Stride in a report on Wednesday, July 8th. William Blair downgraded shares of Stride from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 30th. Finally, Barrington Research reiterated an “outperform” rating and set a $125.00 target price on shares of Stride in a research report on Thursday, April 16th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $109.75.

Stride Price Performance

Shares of Stride stock opened at $82.36 on Friday. The company’s fifty day simple moving average is $88.82 and its two-hundred day simple moving average is $87.87. Stride, Inc. has a 12-month low of $60.61 and a 12-month high of $171.17. The firm has a market cap of $3.42 billion, a PE ratio of 11.44, a price-to-earnings-growth ratio of 0.46 and a beta of 0.11. The company has a quick ratio of 6.14, a current ratio of 5.94 and a debt-to-equity ratio of 0.29.

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.