KLP Kapitalforvaltning AS Makes New $2.09 Million Investment in Stride, Inc. (NYSE:LRN)

KLP Kapitalforvaltning AS bought a new stake in Stride, Inc. (NYSE:LRN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 20,100 shares of the company’s stock, valued at approximately $2,089,000.

Other hedge funds have also made changes to their positions in the company. Intech Investment Management LLC purchased a new position in Stride in the third quarter valued at about $1,067,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Stride by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 518,821 shares of the company’s stock valued at $44,261,000 after buying an additional 16,114 shares during the period. Townsquare Capital LLC lifted its position in Stride by 798.2% during the 3rd quarter. Townsquare Capital LLC now owns 27,044 shares of the company’s stock worth $2,307,000 after acquiring an additional 24,033 shares in the last quarter. Cynosure Group LLC purchased a new position in Stride in the 3rd quarter worth approximately $373,000. Finally, Glenmede Trust Co. NA grew its position in Stride by 3.6% in the third quarter. Glenmede Trust Co. NA now owns 25,990 shares of the company’s stock valued at $2,217,000 after acquiring an additional 910 shares in the last quarter. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Canaccord Genuity Group raised their price target on shares of Stride from $135.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, March 11th. BMO Capital Markets upped their price objective on shares of Stride from $122.00 to $134.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Morgan Stanley lifted their target price on Stride from $94.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Finally, Barrington Research reissued an “outperform” rating and issued a $140.00 price target on shares of Stride in a report on Friday, March 14th. 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 company presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.33.

Stride Stock Performance

Shares of Stride stock opened at $128.64 on Friday. 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 1 year low of $56.17 and a 1 year high of $145.00. The firm’s 50-day simple moving average is $129.90 and its 200-day simple moving average is $107.09. The firm has a market cap of $5.60 billion, a PE ratio of 21.48, a price-to-earnings-growth ratio of 1.04 and a beta of 0.46.

Stride (NYSE:LRN) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $2.03 earnings per share (EPS) for the quarter, beating 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%. Equities analysts forecast that Stride, Inc. will post 6.67 earnings per share 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.