JPMorgan Chase & Co. Lowers Holdings in Stride, Inc. (NYSE:LRN)

JPMorgan Chase & Co. reduced its stake in shares of Stride, Inc. (NYSE:LRN) by 91.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 465,210 shares of the company’s stock after selling 5,248,690 shares during the period. JPMorgan Chase & Co. owned 1.07% of Stride worth $48,349,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. R Squared Ltd acquired a new position in Stride during the fourth quarter worth approximately $37,000. Smartleaf Asset Management LLC increased its holdings in shares of Stride by 372.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 751 shares of the company’s stock worth $79,000 after buying an additional 592 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in shares of Stride by 14.8% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 1,544 shares of the company’s stock worth $163,000 after buying an additional 199 shares during the period. SBI Securities Co. Ltd. acquired a new position in Stride in the fourth quarter valued at $165,000. Finally, Wolverine Asset Management LLC grew its position in Stride by 11.3% during the fourth quarter. Wolverine Asset Management LLC now owns 1,800 shares of the company’s stock valued at $187,000 after acquiring an additional 183 shares during the period. 98.24% of the stock is owned by institutional investors and hedge funds.

Stride Price Performance

Shares of LRN stock opened at $125.57 on Friday. The firm has a fifty day simple moving average of $131.27 and a 200-day simple moving average of $109.28. The company has a market capitalization of $5.47 billion, a PE ratio of 20.96, a price-to-earnings-growth ratio of 1.04 and a beta of 0.47. Stride, Inc. has a twelve month low of $56.17 and a twelve month high of $145.00. 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 posted its quarterly earnings data on Tuesday, January 28th. The company reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.92 by $0.11. Stride had a net margin of 12.30% and a return on equity of 22.42%. Equities research analysts anticipate that Stride, Inc. will post 6.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Stride Company Profile

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.