Stride, Inc. (NYSE:LRN) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its stake in shares of Stride, Inc. (NYSE:LRN) by 293.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 866,182 shares of the company’s stock after purchasing an additional 645,835 shares during the quarter. Principal Financial Group Inc. owned about 1.99% of Stride worth $90,024,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in LRN. R Squared Ltd acquired a new stake in Stride in the 4th quarter valued at approximately $37,000. TD Private Client Wealth LLC increased its position in Stride by 27.7% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,962 shares of the company’s stock valued at $167,000 after acquiring an additional 426 shares during the period. KBC Group NV increased its position in Stride by 68.5% in the 4th quarter. KBC Group NV now owns 1,891 shares of the company’s stock valued at $197,000 after acquiring an additional 769 shares during the period. Sheets Smith Wealth Management acquired a new stake in Stride in the 4th quarter valued at approximately $205,000. Finally, OLD National Bancorp IN acquired a new stake in Stride in the 4th quarter valued at approximately $206,000. 98.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LRN has been the topic of several analyst reports. Canaccord Genuity Group raised their target price on Stride from $100.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Citigroup lifted their price target on Stride from $90.00 to $94.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Barrington Research lifted their price target on Stride from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Morgan Stanley lifted their price target on Stride from $94.00 to $109.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. Finally, BMO Capital Markets lifted their price target on Stride from $122.00 to $134.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Three investment 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 a consensus price target of $116.83.

Stride Stock Performance

LRN opened at $141.91 on Wednesday. The firm has a market cap of $6.18 billion, a PE ratio of 23.69, a P/E/G ratio of 1.04 and a beta of 0.32. The company has a quick ratio of 5.93, a current ratio of 6.02 and a debt-to-equity ratio of 0.35. The business has a fifty day simple moving average of $117.42 and a 200-day simple moving average of $97.76. Stride, Inc. has a fifty-two week low of $54.81 and a fifty-two week high of $145.00.

Stride (NYSE:LRN) last released 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%. As a group, equities analysts predict that Stride, Inc. will post 6.67 EPS for the current fiscal year.

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.