Norges Bank Makes New Investment in Stride, Inc. (NYSE:LRN)

Norges Bank bought a new stake in Stride, Inc. (NYSE:LRN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 435,925 shares of the company’s stock, valued at approximately $45,306,000.

A number of other large investors also recently modified their holdings of LRN. Asset Management One Co. Ltd. purchased a new stake in Stride in the 4th quarter valued at $5,696,000. Congress Asset Management Co. raised its holdings in shares of Stride by 8.2% in the fourth quarter. Congress Asset Management Co. now owns 578,540 shares of the company’s stock valued at $60,128,000 after purchasing an additional 43,829 shares during the last quarter. Aigen Investment Management LP purchased a new stake in shares of Stride in the fourth quarter valued at about $995,000. Truist Financial Corp bought a new position in shares of Stride during the fourth quarter valued at about $302,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Stride by 61.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 190,431 shares of the company’s stock worth $20,250,000 after purchasing an additional 72,518 shares during the last quarter. Institutional investors own 98.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. BMO Capital Markets increased their price objective on shares of Stride from $134.00 to $139.00 and gave the company an “outperform” rating in a research note on Tuesday. Morgan Stanley lifted their price target on Stride from $94.00 to $109.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Barrington Research restated an “outperform” rating and issued a $140.00 price objective on shares of Stride in a research note on Friday, March 14th. Finally, Canaccord Genuity Group lifted their target price on Stride from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, March 11th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $120.17.

Stride Stock Performance

NYSE:LRN opened at $125.57 on Friday. The company has a market capitalization of $5.47 billion, a P/E ratio of 20.96, a P/E/G ratio of 1.04 and a beta of 0.46. The business has a fifty day simple moving average of $131.27 and a two-hundred day simple moving average of $109.09. The company has a debt-to-equity ratio of 0.35, a current ratio of 6.02 and a quick ratio of 5.93. Stride, Inc. has a 1 year low of $56.17 and a 1 year high of $145.00.

Stride (NYSE:LRN) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.11. Stride had a return on equity of 22.42% and a net margin of 12.30%. On average, analysts expect that Stride, Inc. will post 6.67 earnings per share for the current year.

Stride Company Profile

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.