82,928 Shares in Stride, Inc. $LRN Purchased by Shannon River Fund Management LLC

Shannon River Fund Management LLC bought a new stake in shares of Stride, Inc. (NYSE:LRN) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 82,928 shares of the company’s stock, valued at approximately $12,351,000. Stride accounts for 2.0% of Shannon River Fund Management LLC’s portfolio, making the stock its 14th largest holding. Shannon River Fund Management LLC owned approximately 0.19% of Stride as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in LRN. Northwestern Mutual Wealth Management Co. grew its position in Stride by 78.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the company’s stock worth $28,000 after purchasing an additional 85 shares during the period. Quadrant Capital Group LLC lifted its position in shares of Stride by 3.1% during the 2nd quarter. Quadrant Capital Group LLC now owns 3,173 shares of the company’s stock valued at $461,000 after buying an additional 94 shares in the last quarter. Trail Ridge Investment Advisors LLC boosted its holdings in Stride by 1.8% in the 3rd quarter. Trail Ridge Investment Advisors LLC now owns 5,454 shares of the company’s stock worth $812,000 after buying an additional 96 shares during the period. Campbell Newman Asset Management Inc. grew its position in shares of Stride by 0.4% during the third quarter. Campbell Newman Asset Management Inc. now owns 24,272 shares of the company’s stock worth $3,615,000 after purchasing an additional 101 shares in the last quarter. Finally, Blue Bell Private Wealth Management LLC raised its position in shares of Stride by 5.4% during the third quarter. Blue Bell Private Wealth Management LLC now owns 2,168 shares of the company’s stock valued at $323,000 after buying an additional 111 shares during the last quarter. 98.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LRN has been the subject of several research reports. Wall Street Zen lowered shares of Stride from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Morgan Stanley decreased their price target on Stride from $130.00 to $95.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 17th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $125.00 price objective on shares of Stride in a research report on Wednesday, January 28th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Stride in a research report on Monday, December 29th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Stride in a research report on Tuesday, March 3rd. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Stride has an average rating of “Hold” and a consensus price target of $109.75.

Stride Stock Performance

Shares of Stride stock opened at $85.17 on Thursday. The company has a 50 day moving average price of $79.22 and a 200 day moving average price of $98.46. The firm has a market capitalization of $3.63 billion, a P/E ratio of 12.96, a PEG ratio of 0.51 and a beta of 0.12. The company has a quick ratio of 7.19, a current ratio of 7.27 and a debt-to-equity ratio of 0.31. Stride, Inc. has a 52 week low of $60.61 and a 52 week high of $171.17.

Stride 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.