Point72 Asset Management L.P. Sells 202,376 Shares of Stride, Inc. (NYSE:LRN)

Point72 Asset Management L.P. trimmed its holdings in Stride, Inc. (NYSE:LRN - Free Report) by 95.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,251 shares of the company's stock after selling 202,376 shares during the period. Point72 Asset Management L.P.'s holdings in Stride were worth $961,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Point72 Hong Kong Ltd bought a new position in shares of Stride in the fourth quarter valued at $41,000. ProShare Advisors LLC lifted its stake in shares of Stride by 44.6% in the fourth quarter. ProShare Advisors LLC now owns 12,839 shares of the company's stock valued at $1,334,000 after buying an additional 3,957 shares in the last quarter. Occudo Quantitative Strategies LP bought a new position in shares of Stride in the fourth quarter valued at $566,000. NDVR Inc. lifted its stake in shares of Stride by 5.1% in the fourth quarter. NDVR Inc. now owns 3,762 shares of the company's stock valued at $391,000 after buying an additional 182 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Stride by 2.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,435 shares of the company's stock valued at $3,059,000 after buying an additional 733 shares in the last quarter. 98.24% of the stock is owned by institutional investors.

Stride Stock Down 0.9%

LRN opened at $155.98 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 6.02 and a quick ratio of 5.93. The company's 50-day moving average is $138.58 and its 200 day moving average is $124.18. Stride, Inc. has a fifty-two week low of $63.25 and a fifty-two week high of $162.30. The firm has a market capitalization of $6.79 billion, a P/E ratio of 26.04, a PEG ratio of 1.04 and a beta of 0.36.

Stride (NYSE:LRN - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $2.02 earnings per share for the quarter, missing analysts' consensus estimates of $2.09 by ($0.07). Stride had a net margin of 12.30% and a return on equity of 22.42%. The firm had revenue of $613.38 million for the quarter, compared to the consensus estimate of $591.15 million. During the same period in the previous year, the business earned $1.60 earnings per share. The firm's revenue for the quarter was up 17.8% on a year-over-year basis. Research analysts expect that Stride, Inc. will post 6.67 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on LRN shares. Barrington Research raised their price objective on shares of Stride from $150.00 to $170.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Canaccord Genuity Group raised their price objective on shares of Stride from $145.00 to $155.00 and gave the company a "buy" rating in a research note on Monday, April 28th. William Blair reissued an "outperform" rating on shares of Stride in a research report on Wednesday, April 30th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Stride in a research report on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, Stride presently has a consensus rating of "Moderate Buy" and an average target price of $126.83.

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.

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