Stride, Inc. $LRN Shares Sold by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management sharply cut its stake in Stride by 94.5% in the fourth quarter, leaving it with 6,913 shares worth about $449,000.
• Despite the sale, Stride remains heavily owned by institutions, with 98.24% of shares held by institutional investors and hedge funds; several firms also increased their positions in the stock.
• Stride reported better-than-expected quarterly results, posting EPS of $2.30 versus $2.21 expected and revenue of $629.87 million, though analysts currently view the stock as a Hold with a consensus target of $109.75.

Pictet Asset Management Holding SA reduced its holdings in shares of Stride, Inc. (NYSE:LRN - Free Report) by 94.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,913 shares of the company's stock after selling 118,320 shares during the quarter. Pictet Asset Management Holding SA's holdings in Stride were worth $449,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in LRN. AQR Capital Management LLC boosted its position in shares of Stride by 67.3% during the 1st quarter. AQR Capital Management LLC now owns 28,547 shares of the company's stock worth $3,611,000 after acquiring an additional 11,481 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Stride by 80.9% during the 1st quarter. NewEdge Advisors LLC now owns 5,124 shares of the company's stock worth $648,000 after acquiring an additional 2,291 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Stride by 12.4% during the 1st quarter. Empowered Funds LLC now owns 18,202 shares of the company's stock worth $2,303,000 after acquiring an additional 2,008 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Stride by 31.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 134,455 shares of the company's stock worth $17,009,000 after acquiring an additional 32,470 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in shares of Stride by 62.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the company's stock worth $43,000 after acquiring an additional 131 shares in the last quarter. 98.24% of the stock is owned by institutional investors and hedge funds.

Stride Stock Down 4.1%

LRN opened at $87.88 on Friday. The business has a 50 day moving average price of $89.99 and a two-hundred day moving average price of $81.60. The company has a quick ratio of 6.14, a current ratio of 6.21 and a debt-to-equity ratio of 0.29. The company has a market cap of $3.74 billion, a PE ratio of 13.56, a P/E/G ratio of 0.54 and a beta of 0.13. Stride, Inc. has a 52 week low of $60.61 and a 52 week high of $171.17.

Stride (NYSE:LRN - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.21 by $0.09. The firm had revenue of $629.87 million during the quarter, compared to the consensus estimate of $629.69 million. Stride had a return on equity of 25.20% and a net margin of 12.15%.The firm's revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.02 EPS. As a group, research analysts anticipate that Stride, Inc. will post 8.15 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Canaccord Genuity Group reissued a "buy" rating and issued a $125.00 target price on shares of Stride in a report on Wednesday, January 28th. Weiss Ratings reissued a "hold (c)" rating on shares of Stride in a report on Friday, April 10th. Wall Street Zen downgraded Stride from a "buy" rating to a "hold" rating in a report on Saturday, January 31st. BMO Capital Markets reissued a "market perform" rating on shares of Stride in a report on Tuesday, March 3rd. Finally, Barrington Research reissued an "outperform" rating and issued a $125.00 target price on shares of Stride in a report on Thursday, April 16th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $109.75.

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.

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