Public Sector Pension Investment Board Has $27.64 Million Position in Stride, Inc. $LRN

Public Sector Pension Investment Board raised its stake in Stride, Inc. (NYSE:LRN) by 12.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 185,585 shares of the company’s stock after buying an additional 21,275 shares during the quarter. Public Sector Pension Investment Board’s holdings in Stride were worth $27,641,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of LRN. Asset Management One Co. Ltd. increased its position in Stride by 33.8% during the 2nd quarter. Asset Management One Co. Ltd. now owns 43,033 shares of the company’s stock worth $6,248,000 after purchasing an additional 10,870 shares in the last quarter. SG Capital Management LLC bought a new stake in shares of Stride during the second quarter worth $5,859,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Stride during the third quarter worth $3,391,000. Invesco Ltd. lifted its stake in shares of Stride by 10.3% in the 2nd quarter. Invesco Ltd. now owns 1,782,020 shares of the company’s stock valued at $258,731,000 after acquiring an additional 165,775 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Stride during the 2nd quarter valued at $92,858,000. 98.24% of the stock is owned by institutional investors and hedge funds.

Stride Stock Up 0.5%

Shares of NYSE LRN opened at $84.89 on Friday. The company’s 50 day moving average price is $72.09 and its 200-day moving average price is $106.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 7.19 and a current ratio of 7.27. Stride, Inc. has a 52-week low of $60.61 and a 52-week high of $171.17. The company has a market capitalization of $3.61 billion, a P/E ratio of 12.92, a price-to-earnings-growth ratio of 0.51 and a beta of 0.10.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. BMO Capital Markets reaffirmed a “market perform” rating and issued a $94.00 target price on shares of Stride in a report on Wednesday, January 28th. Barrington Research reaffirmed an “outperform” rating and issued a $125.00 price objective on shares of Stride in a research note on Wednesday, January 28th. Zacks Research downgraded shares of Stride from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. Canaccord Genuity Group restated a “buy” rating and issued a $125.00 price target on shares of Stride in a research report on Wednesday, January 28th. Finally, Morgan Stanley cut their price target on shares of Stride from $130.00 to $95.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 17th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $109.75.

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.