First Trust Advisors LP Has $1.81 Million Stock Holdings in Stride, Inc. $LRN

First Trust Advisors LP decreased its stake in shares of Stride, Inc. (NYSE:LRN) by 60.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 20,484 shares of the company’s stock after selling 31,907 shares during the period. First Trust Advisors LP’s holdings in Stride were worth $1,806,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of LRN. Northwestern Mutual Wealth Management Co. lifted its position in Stride by 78.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the company’s stock worth $28,000 after acquiring an additional 85 shares during the last quarter. Geneos Wealth Management Inc. grew its position 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 during the last quarter. Maryland State Retirement & Pension System increased its stake in shares of Stride by 2.4% during the fourth quarter. Maryland State Retirement & Pension System now owns 6,338 shares of the company’s stock worth $412,000 after purchasing an additional 149 shares during the period. Newbridge Financial Services Group Inc. bought a new position in shares of Stride during the second quarter worth approximately $25,000. Finally, Rezny Wealth Management Inc. lifted its holdings in Stride by 1.3% during the 4th quarter. Rezny Wealth Management Inc. now owns 14,361 shares of the company’s stock worth $932,000 after purchasing an additional 190 shares during the last quarter. Institutional investors and hedge funds own 98.24% of the company’s stock.

Stride Stock Up 2.9%

Shares of LRN opened at $82.36 on Friday. Stride, Inc. has a 12 month low of $60.61 and a 12 month high of $171.17. The firm’s 50 day moving average is $88.82 and its 200-day moving average is $87.87. The stock has a market capitalization of $3.42 billion, a PE ratio of 11.44, a P/E/G ratio of 0.48 and a beta of 0.11. The company has a current ratio of 5.94, a quick ratio of 6.14 and a debt-to-equity ratio of 0.29.

Wall Street Analyst Weigh In

Several analysts recently issued reports on LRN shares. BMO Capital Markets restated a “market perform” rating on shares of Stride in a research note on Monday, June 15th. William Blair cut Stride from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Stride in a report on Wednesday, July 8th. 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 equities research analysts have rated the stock with a Buy rating and five have issued 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 target price of $109.75.

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.