Covestor Ltd Grows Holdings in Stride, Inc. (NYSE:LRN)

Covestor Ltd raised its position in Stride, Inc. (NYSE:LRN) by 51.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 632 shares of the company’s stock after purchasing an additional 215 shares during the period. Covestor Ltd’s holdings in Stride were worth $66,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. R Squared Ltd purchased a new position in Stride in the fourth quarter valued at about $37,000. CIBC Private Wealth Group LLC raised its position in shares of Stride by 85.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 386 shares of the company’s stock valued at $42,000 after purchasing an additional 178 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new position in shares of Stride during the 4th quarter valued at approximately $77,000. Smartleaf Asset Management LLC grew its position in shares of Stride by 372.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 751 shares of the company’s stock worth $79,000 after buying an additional 592 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its stake in shares of Stride by 23.0% in the fourth quarter. Quadrant Capital Group LLC now owns 1,378 shares of the company’s stock worth $143,000 after buying an additional 258 shares during the last quarter. 98.24% of the stock is currently owned by institutional investors and hedge funds.

Stride Trading Up 0.1 %

NYSE LRN opened at $134.99 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.93 and a current ratio of 6.02. Stride, Inc. has a one year low of $56.17 and a one year high of $145.00. The company has a 50-day simple moving average of $131.19 and a 200-day simple moving average of $111.88. The firm has a market capitalization of $5.88 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 1.04 and a beta of 0.47.

Stride (NYSE:LRN) last issued its earnings results on Tuesday, January 28th. The company reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.92 by $0.11. Stride had a return on equity of 22.42% and a net margin of 12.30%. On average, equities analysts forecast that Stride, Inc. will post 6.67 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Barrington Research reiterated an “outperform” rating and set a $140.00 price objective on shares of Stride in a research note on Friday, March 14th. BMO Capital Markets increased their price target on shares of Stride from $134.00 to $139.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 1st. Finally, Canaccord Genuity Group boosted their price objective on Stride from $135.00 to $145.00 and gave the company a “buy” rating in a report 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’s stock. According to data from MarketBeat.com, Stride has an average rating of “Moderate Buy” and an average price target of $120.17.

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.