Point72 Hong Kong Ltd Acquires New Holdings in Stride, Inc. (NYSE:LRN)

Point72 Hong Kong Ltd acquired a new position in Stride, Inc. (NYSE:LRN) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 398 shares of the company’s stock, valued at approximately $41,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. R Squared Ltd acquired a new stake in shares of Stride in the 4th quarter worth approximately $37,000. CIBC Private Wealth Group LLC raised its holdings in Stride by 85.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 386 shares of the company’s stock worth $42,000 after purchasing an additional 178 shares in the last quarter. Covestor Ltd lifted its position in Stride by 51.6% in the fourth quarter. Covestor Ltd now owns 632 shares of the company’s stock worth $66,000 after purchasing an additional 215 shares during the period. Gen Wealth Partners Inc acquired a new stake in Stride in the fourth quarter worth approximately $75,000. Finally, C M Bidwell & Associates Ltd. bought a new position in Stride during the 4th quarter valued at $77,000. Institutional investors own 98.24% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on LRN shares. BMO Capital Markets restated an “outperform” rating on shares of Stride in a report on Thursday, May 1st. Canaccord Genuity Group boosted their price target on shares of Stride from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, April 28th. Barrington Research raised their price objective on shares of Stride from $150.00 to $170.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. Finally, William Blair reaffirmed an “outperform” rating on shares of Stride in a research note on Wednesday, April 30th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $126.83.

Stride Trading Up 0.5%

NYSE:LRN opened at $154.62 on Friday. The company has a quick ratio of 5.93, a current ratio of 6.02 and a debt-to-equity ratio of 0.35. Stride, Inc. has a 1-year low of $63.25 and a 1-year high of $162.30. The firm has a market capitalization of $6.73 billion, a price-to-earnings ratio of 25.81, a price-to-earnings-growth ratio of 1.04 and a beta of 0.36. The stock has a fifty day simple moving average of $136.37 and a 200 day simple moving average of $123.08.

Stride (NYSE:LRN) last announced its earnings results on Tuesday, April 29th. The company reported $2.02 EPS for the quarter, missing the consensus estimate of $2.09 by ($0.07). The firm had revenue of $613.38 million during the quarter, compared to analyst estimates of $591.15 million. Stride had a return on equity of 22.42% and a net margin of 12.30%. The business’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.60 earnings per share. Sell-side analysts forecast that Stride, Inc. will post 6.67 earnings per share for the current year.

About Stride

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.