ExodusPoint Capital Management LP Makes New Investment in Stride, Inc. (NYSE:LRN)

ExodusPoint Capital Management LP purchased a new stake in shares of Stride, Inc. (NYSE:LRN) during the 4th quarter, Holdings Channel.com reports. The fund purchased 54,557 shares of the company’s stock, valued at approximately $5,670,000.

A number of other hedge funds have also modified their holdings of the company. IHT Wealth Management LLC purchased a new position in shares of Stride during the 3rd quarter valued at $823,000. Point72 Asset Management L.P. boosted its stake in shares of Stride by 187.6% in the third quarter. Point72 Asset Management L.P. now owns 211,627 shares of the company’s stock worth $18,054,000 after acquiring an additional 138,054 shares during the period. Stifel Financial Corp grew its position in shares of Stride by 161.1% during the third quarter. Stifel Financial Corp now owns 12,870 shares of the company’s stock worth $1,098,000 after purchasing an additional 7,940 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Stride by 416.7% during the third quarter. Wellington Management Group LLP now owns 275,483 shares of the company’s stock worth $23,501,000 after purchasing an additional 222,165 shares in the last quarter. Finally, Zacks Investment Management lifted its holdings in Stride by 10.2% in the 3rd quarter. Zacks Investment Management now owns 37,392 shares of the company’s stock worth $3,190,000 after purchasing an additional 3,472 shares in the last quarter. 98.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LRN. Canaccord Genuity Group increased their price objective on shares of Stride from $135.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, March 11th. Barrington Research reiterated an “outperform” rating and issued a $140.00 price target on shares of Stride in a report on Friday, March 14th. Morgan Stanley increased their price objective 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 lifted their target price on Stride from $134.00 to $139.00 and gave the stock an “outperform” rating in a report on Tuesday, April 1st. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.17.

Stride Stock Performance

Shares of NYSE:LRN opened at $125.57 on Friday. The firm has a fifty day simple moving average of $131.27 and a two-hundred day simple moving average of $109.28. Stride, Inc. has a 52 week low of $56.17 and a 52 week high of $145.00. 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 stock has a market capitalization of $5.47 billion, a P/E ratio of 20.96, a PEG ratio of 1.04 and a beta of 0.47.

Stride (NYSE:LRN) last released its quarterly earnings results on Tuesday, January 28th. The company reported $2.03 EPS for the quarter, topping 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%. On average, analysts expect 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.