Central Pacific Bank Trust Division Trims Stake in Stride, Inc. $LRN

Central Pacific Bank Trust Division reduced its holdings in Stride, Inc. (NYSE:LRN) by 96.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,573 shares of the company’s stock after selling 79,100 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Stride were worth $167,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Invesco Ltd. grew its holdings in shares of Stride by 1.3% during the third quarter. Invesco Ltd. now owns 1,805,508 shares of the company’s stock worth $268,912,000 after purchasing an additional 23,488 shares in the last quarter. William Blair Investment Management LLC raised its stake in Stride by 37.2% in the third quarter. William Blair Investment Management LLC now owns 1,511,080 shares of the company’s stock valued at $225,060,000 after purchasing an additional 410,029 shares in the last quarter. Squarepoint Ops LLC raised its stake in Stride by 88.6% in the second quarter. Squarepoint Ops LLC now owns 1,086,879 shares of the company’s stock valued at $157,804,000 after purchasing an additional 510,641 shares in the last quarter. Norges Bank bought a new stake in Stride during the second quarter valued at approximately $92,858,000. Finally, Wellington Management Group LLP grew its stake in Stride by 30.9% in the 3rd quarter. Wellington Management Group LLP now owns 511,820 shares of the company’s stock worth $76,230,000 after buying an additional 120,898 shares in the last quarter. Institutional investors own 98.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LRN. Weiss Ratings reissued a “hold (c+)” rating on shares of Stride in a report on Monday, December 29th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Stride in a report on Tuesday, March 3rd. Morgan Stanley cut their target price 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. Canaccord Genuity Group reissued a “buy” rating and issued a $125.00 target price on shares of Stride in a research note on Wednesday, January 28th. Finally, Barrington Research restated an “outperform” rating and set a $125.00 price target on shares of Stride in a research report on Wednesday, January 28th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $109.75.

Stride Trading Down 2.7%

Shares of LRN stock opened at $85.06 on Monday. The stock has a market capitalization of $3.62 billion, a PE ratio of 12.95, a P/E/G ratio of 0.52 and a beta of 0.12. Stride, Inc. has a 1-year low of $60.61 and a 1-year high of $171.17. The business has a 50-day moving average of $81.73 and a 200 day moving average of $94.07. The company has a debt-to-equity ratio of 0.31, a current ratio of 7.27 and a quick ratio of 7.19.

Stride 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.