Norges Bank Purchases Shares of 1,122,305 Stride, Inc. $LRN

Norges Bank purchased a new stake in Stride, Inc. (NYSE:LRN) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,122,305 shares of the company’s stock, valued at approximately $72,871,000. Norges Bank owned approximately 2.64% of Stride as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. lifted its stake in 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 buying an additional 85 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in 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 buying an additional 131 shares in the last quarter. Measured Wealth Private Client Group LLC lifted its stake in Stride by 3.8% in the third quarter. Measured Wealth Private Client Group LLC now owns 4,619 shares of the company’s stock valued at $688,000 after buying an additional 169 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new position in Stride in the second quarter valued at approximately $25,000. Finally, Rezny Wealth Management Inc. lifted its stake in Stride by 1.3% in the fourth quarter. Rezny Wealth Management Inc. now owns 14,361 shares of the company’s stock valued at $932,000 after buying an additional 190 shares in the last quarter. Institutional investors own 98.24% of the company’s stock.

Stride Stock Performance

Shares of LRN stock opened at $99.97 on Friday. The company’s fifty day simple moving average is $92.36 and its 200-day simple moving average is $80.84. The company has a quick ratio of 6.14, a current ratio of 6.21 and a debt-to-equity ratio of 0.29. The firm has a market cap of $4.25 billion, a PE ratio of 15.43, a P/E/G ratio of 0.61 and a beta of 0.10. Stride, Inc. has a 12 month low of $60.61 and a 12 month high of $171.17.

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

Wall Street Analyst Weigh In

LRN has been the topic of a number of research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Stride in a research note on Friday, April 10th. Barrington Research reaffirmed an “outperform” rating and issued a $125.00 price target on shares of Stride in a research note on Thursday, April 16th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Stride in a research note on Tuesday, March 3rd. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $109.75.

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.