Norges Bank Makes New $72.87 Million Investment in Stride, Inc. $LRN

Norges Bank purchased a new position in shares of Stride, Inc. (NYSE:LRN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,122,305 shares of the company’s stock, valued at approximately $72,871,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LRN. Newbridge Financial Services Group Inc. bought a new stake in Stride during the second quarter worth $25,000. Northwestern Mutual Wealth Management Co. raised 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 in the last quarter. Leonteq Securities AG bought a new stake in Stride during the fourth quarter worth $35,000. Sentry Investment Management LLC bought a new stake in Stride during the third quarter worth $42,000. Finally, Geneos Wealth Management Inc. raised its position in Stride by 62.7% during the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the company’s stock worth $43,000 after acquiring an additional 131 shares in the last quarter. 98.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Stride Price Performance

NYSE:LRN opened at $99.97 on Friday. Stride, Inc. has a one year low of $60.61 and a one year high of $171.17. The company has a market cap of $4.25 billion, a P/E ratio of 15.43, a P/E/G ratio of 0.61 and a beta of 0.10. The firm’s fifty day moving average price is $92.36 and its two-hundred day moving average price is $80.84. The company has a debt-to-equity ratio of 0.29, a current ratio of 6.21 and a quick ratio of 6.14.

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

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.