Pictet Asset Management Holding SA Sells 246,086 Shares of Stride, Inc. (NYSE:LRN)

Pictet Asset Management Holding SA lowered its stake in Stride, Inc. (NYSE:LRN - Free Report) by 98.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,093 shares of the company's stock after selling 246,086 shares during the quarter. Pictet Asset Management Holding SA's holdings in Stride were worth $529,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. R Squared Ltd bought a new position in shares of Stride during the 4th quarter valued at about $37,000. Smartleaf Asset Management LLC grew its position in Stride by 372.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 751 shares of the company's stock worth $79,000 after buying an additional 592 shares during the last quarter. Nomura Asset Management Co. Ltd. bought a new position in shares of Stride in the fourth quarter valued at $158,000. Skandinaviska Enskilda Banken AB publ lifted its position in shares of Stride by 14.8% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 1,544 shares of the company's stock valued at $163,000 after acquiring an additional 199 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Stride in the 4th quarter worth $165,000. Institutional investors own 98.24% of the company's stock.

Stride Stock Up 1.1 %

LRN stock traded up $1.52 during midday trading on Monday, reaching $136.32. The company had a trading volume of 43,817 shares, compared to its average volume of 836,014. The company has a 50 day moving average of $131.26 and a two-hundred day moving average of $111.52. The company has a current ratio of 6.02, a quick ratio of 5.93 and a debt-to-equity ratio of 0.35. Stride, Inc. has a 1 year low of $56.17 and a 1 year high of $145.00. The company has a market capitalization of $5.94 billion, a P/E ratio of 22.55, a PEG ratio of 1.04 and a beta of 0.47.

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Stride (NYSE:LRN - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $2.03 earnings per share (EPS) for the quarter, beating 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, equities research analysts expect that Stride, Inc. will post 6.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LRN. BMO Capital Markets increased their price target on Stride from $134.00 to $139.00 and gave the company an "outperform" rating in a research report on Tuesday, April 1st. Barrington Research reissued an "outperform" rating and issued a $140.00 target price on shares of Stride in a research report on Friday, March 14th. Finally, Canaccord Genuity Group upped their price target on shares of Stride from $135.00 to $145.00 and gave the company a "buy" rating in a research report on Tuesday, March 11th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Stride has a consensus rating of "Moderate Buy" and a consensus target price of $120.17.

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.