Principal Financial Group Inc. Has $106.71 Million Stock Position in Stride, Inc. $LRN

Principal Financial Group Inc. lessened its stake in Stride, Inc. (NYSE:LRN) by 8.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 716,469 shares of the company’s stock after selling 66,770 shares during the quarter. Principal Financial Group Inc.’s holdings in Stride were worth $106,711,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Mutual Advisors LLC acquired a new position in shares of Stride during the third quarter worth approximately $208,000. Independent Advisor Alliance lifted its holdings in Stride by 6.9% during the 3rd quarter. Independent Advisor Alliance now owns 11,232 shares of the company’s stock worth $1,673,000 after buying an additional 723 shares in the last quarter. Lisanti Capital Growth LLC boosted its position in Stride by 5.1% in the 3rd quarter. Lisanti Capital Growth LLC now owns 29,100 shares of the company’s stock valued at $4,334,000 after buying an additional 1,405 shares during the last quarter. Arizona State Retirement System boosted its position in Stride by 1.3% in the 3rd quarter. Arizona State Retirement System now owns 12,879 shares of the company’s stock valued at $1,918,000 after buying an additional 170 shares during the last quarter. Finally, TD Waterhouse Canada Inc. increased its stake in shares of Stride by 13.8% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 3,578 shares of the company’s stock valued at $517,000 after buying an additional 434 shares during the period. 98.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LRN. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Stride in a research note on Monday, December 29th. Barrington Research reissued an “outperform” rating and set a $125.00 price objective on shares of Stride in a report on Wednesday, January 28th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $94.00 target price on shares of Stride in a research note on Wednesday, January 28th. Morgan Stanley lowered their price target on shares of Stride from $130.00 to $95.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 17th. Finally, Zacks Research lowered shares of Stride from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $109.75.

Stride Stock Up 2.2%

Shares of NYSE:LRN opened at $86.44 on Tuesday. The company has a 50 day moving average price of $67.84 and a two-hundred day moving average price of $109.25. The company has a debt-to-equity ratio of 0.31, a quick ratio of 7.19 and a current ratio of 7.27. The company has a market capitalization of $3.68 billion, a PE ratio of 13.16, a PEG ratio of 0.51 and a beta of 0.10. Stride, Inc. has a 52 week low of $60.61 and a 52 week high of $171.17.

Stride Company Profile

Stride, Inc (NYSE:LRN) is a technology-driven education company that designs and delivers online learning solutions for students and adult learners. Through long-term partnerships with state-authorized public school districts, Stride operates virtual academies that serve K-12 students across the United States. The company’s blended-learning model combines digital curriculum, live teaching support and data analytics to personalize instruction and monitor student progress.

In addition to its K-12 offerings, Stride provides a portfolio of career and workforce readiness programs under its Stride Career Prep division.