Stride (NYSE:LRN) Shares Gap Down – Here’s What Happened

Stride, Inc. (NYSE:LRN)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $133.16, but opened at $128.27. Stride shares last traded at $118.44, with a volume of 215,665 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on LRN shares. Morgan Stanley upped their price target on shares of Stride from $94.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Barrington Research upped their price target on shares of Stride from $130.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Canaccord Genuity Group upped their price target on shares of Stride from $100.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, BMO Capital Markets upped their price target on shares of Stride from $122.00 to $134.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $116.83.

Stride Stock Down 7.4 %

The business’s 50-day moving average price is $125.87 and its 200-day moving average price is $103.22. 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 firm has a market capitalization of $5.37 billion, a PE ratio of 20.59, a price-to-earnings-growth ratio of 1.04 and a beta of 0.46.

Stride (NYSE:LRN) last released its quarterly earnings data on Tuesday, January 28th. The company reported $2.03 EPS for the quarter, topping analysts’ consensus estimates 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 research analysts predict that Stride, Inc. will post 6.67 EPS for the current fiscal year.

Hedge Funds Weigh In On Stride

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Stride by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 4,673,393 shares of the company’s stock worth $485,706,000 after acquiring an additional 69,888 shares during the last quarter. William Blair Investment Management LLC lifted its position in Stride by 18.0% in the fourth quarter. William Blair Investment Management LLC now owns 2,467,019 shares of the company’s stock worth $256,397,000 after purchasing an additional 375,686 shares during the period. Janus Henderson Group PLC lifted its position in Stride by 27.6% in the fourth quarter. Janus Henderson Group PLC now owns 1,493,709 shares of the company’s stock worth $155,251,000 after purchasing an additional 323,275 shares during the period. Geode Capital Management LLC lifted its position in Stride by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 970,395 shares of the company’s stock worth $100,877,000 after purchasing an additional 5,694 shares during the period. Finally, Vaughan Nelson Investment Management L.P. increased its position in shares of Stride by 51.1% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 929,855 shares of the company’s stock worth $79,326,000 after purchasing an additional 314,435 shares in the last quarter. Institutional investors and hedge funds own 98.24% of the company’s stock.

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.