Stride, Inc. (NYSE:LRN) Shares Bought by Envestnet Asset Management Inc.

Stride, Inc. (STRD) is a leading provider of tax-advantaged retirement plans for individuals and businesses. The company's flagship product is the 529 college savings plan, which allows families to save money for their children's education on a tax-deferred basis.

Envestnet Asset Management Inc. (EAMA) is a leading provider of investment management services to financial advisors and institutional investors. The company offers a range of investment products and services, including mutual funds, exchange-traded funds (ETFs), and managed portfolios.

On March 10, 2023, EAMA announced that it had purchased approximately 5.4 million shares of Stride, Inc.'s NYSELRN stock for $68.9 million. The transaction was made on behalf of its clients, who are financial advisors and institutional investors.

The purchase of NYSELRN shares by EAMA is significant because it represents a vote of confidence in the growth potential of Stride's business. EAMA is a well-respected player in the investment management industry, and its decision to invest in Stride suggests that the company has strong fundamentals and growth prospects.

In addition, the purchase of NYSELRN shares by EAMA may also signal an opportunity for Stride to expand its reach and grow its customer base. EAMA is a leading provider of investment management services to financial advisors and institutional investors, which could provide Stride with access to new customers and revenue streams.

Overall, the purchase of NYSELRN shares by EAMA is a positive development for Stride, Inc., as it represents a vote of confidence in the company's growth potential and may also provide opportunities for expansion and growth.