Wedbush Securities Inc. Purchases Shares of 2,068 Stride, Inc. (NYSE:LRN)

Wedbush Securities Inc. acquired a new stake in shares of Stride, Inc. (NYSE:LRN) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 2,068 shares of the company’s stock, valued at approximately $215,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Breach Inlet Capital Management LLC lifted its position in shares of Stride by 32.7% in the fourth quarter. Breach Inlet Capital Management LLC now owns 86,934 shares of the company’s stock worth $9,035,000 after buying an additional 21,433 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its stake in Stride by 1.6% in the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 20,278 shares of the company’s stock worth $2,107,000 after acquiring an additional 310 shares during the last quarter. Resona Asset Management Co. Ltd. purchased a new stake in shares of Stride during the 4th quarter worth approximately $416,000. Integrated Quantitative Investments LLC bought a new position in shares of Stride during the 4th quarter valued at approximately $1,354,000. Finally, ExodusPoint Capital Management LP bought a new position in shares of Stride during the 4th quarter valued at approximately $5,670,000. Institutional investors own 98.24% of the company’s stock.

Analyst Ratings Changes

LRN has been the topic of a number of recent research reports. Barrington Research reaffirmed an “outperform” rating and set a $140.00 price target on shares of Stride in a research note on Friday, March 14th. Canaccord Genuity Group boosted their target price on shares of Stride from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. Morgan Stanley increased their price target on shares of Stride from $94.00 to $109.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Finally, BMO Capital Markets boosted their price objective on Stride from $134.00 to $139.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 1st. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $120.17.

Stride Price Performance

LRN stock opened at $133.75 on Friday. The stock has a market cap of $5.82 billion, a PE ratio of 22.33, a P/E/G ratio of 1.04 and a beta of 0.47. Stride, Inc. has a 12 month low of $56.17 and a 12 month high of $145.00. The company has a 50-day moving average price of $131.30 and a 200 day moving average price of $110.99. The company has a current ratio of 6.02, a quick ratio of 5.93 and a debt-to-equity ratio of 0.35.

Stride (NYSE:LRN) last announced its earnings results 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 research analysts anticipate that Stride, Inc. will post 6.67 earnings per share for the current 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.