Corebridge Financial Inc. Sells 1,759 Shares of Stride, Inc. (NYSE:LRN)

Corebridge Financial Inc. reduced its stake in shares of Stride, Inc. (NYSE:LRN) by 7.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,681 shares of the company’s stock after selling 1,759 shares during the quarter. Corebridge Financial Inc. owned about 0.05% of Stride worth $2,357,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Stride by 4.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,421 shares of the company’s stock valued at $1,145,000 after buying an additional 625 shares during the period. Erste Asset Management GmbH acquired a new stake in Stride in the third quarter worth about $6,391,000. Atom Investors LP bought a new stake in Stride during the 3rd quarter worth about $1,274,000. Janus Henderson Group PLC lifted its position in Stride by 1.1% during the 3rd quarter. Janus Henderson Group PLC now owns 1,170,434 shares of the company’s stock valued at $99,851,000 after purchasing an additional 13,050 shares during the period. Finally, IHT Wealth Management LLC bought a new position in shares of Stride in the 3rd quarter valued at about $823,000. Institutional investors and hedge funds own 98.24% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on LRN shares. Barrington Research reissued 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 increased their price target on Stride from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. BMO Capital Markets lifted their price objective on Stride from $134.00 to $139.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Morgan Stanley increased their target price on Stride from $94.00 to $109.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.17.

Stride Stock Performance

Shares of LRN opened at $129.13 on Wednesday. The firm has a market cap of $5.62 billion, a P/E ratio of 21.56, a PEG ratio of 1.04 and a beta of 0.46. Stride, Inc. has a twelve month low of $56.17 and a twelve month high of $145.00. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.93 and a current ratio of 6.02. The firm’s 50 day moving average price is $130.65 and its two-hundred day moving average price is $108.49.

Stride (NYSE:LRN) last announced its earnings results on Tuesday, January 28th. The company reported $2.03 earnings per share for the quarter, topping 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%. On average, analysts forecast that Stride, Inc. will post 6.67 EPS for the current fiscal year.

Stride 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.