Janus Henderson Group PLC grew its stake in shares of Stride, Inc. (NYSE:LRN – Free Report) by 61.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,277,279 shares of the company’s stock after purchasing an additional 862,849 shares during the quarter. Janus Henderson Group PLC owned approximately 5.35% of Stride worth $200,799,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also modified their holdings of the stock. Norges Bank acquired a new position in shares of Stride in the 4th quarter valued at $72,871,000. Morgan Stanley raised its stake in Stride by 98.1% during the 4th quarter. Morgan Stanley now owns 1,631,570 shares of the company’s stock worth $105,938,000 after acquiring an additional 808,141 shares in the last quarter. Barclays PLC lifted its position in Stride by 254.8% in the fourth quarter. Barclays PLC now owns 688,214 shares of the company’s stock valued at $44,686,000 after acquiring an additional 494,215 shares during the last quarter. Victory Capital Management Inc. lifted its position in Stride by 682.1% in the fourth quarter. Victory Capital Management Inc. now owns 562,346 shares of the company’s stock valued at $36,513,000 after acquiring an additional 490,445 shares during the last quarter. Finally, Nearwater Capital Markets Ltd purchased a new stake in Stride in the fourth quarter valued at $31,686,000. Hedge funds and other institutional investors own 98.24% of the company’s stock.
Stride Stock Down 14.7%
LRN stock opened at $83.34 on Friday. The company has a fifty day moving average price of $89.95 and a 200 day moving average price of $87.52. Stride, Inc. has a 12 month low of $60.61 and a 12 month high of $171.17. The company has a market cap of $3.54 billion, a price-to-earnings ratio of 12.86, a price-to-earnings-growth ratio of 0.55 and a beta of 0.10. The company has a debt-to-equity ratio of 0.29, a current ratio of 6.21 and a quick ratio of 6.14.
Wall Street Analyst Weigh In
LRN has been the topic of several research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Stride in a report on Wednesday, July 8th. BMO Capital Markets reissued a “market perform” rating on shares of Stride in a report on Monday, June 15th. William Blair cut Stride from an “outperform” rating to a “market perform” rating in a research report on Thursday. Finally, Barrington Research reissued an “outperform” rating and issued 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $109.75.
Read Our Latest Report on Stride
Stride Company Profile
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.
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