Pictet Asset Management Holding SA Reduces Position in Stride, Inc. (NYSE:LRN)

Pictet Asset Management Holding SA cut its holdings in shares of Stride, Inc. (NYSE:LRN) by 98.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 reporting period.

Several other large investors also recently bought and sold shares of LRN. Nomura Asset Management Co. Ltd. acquired a new position in shares of Stride during the 4th quarter worth approximately $158,000. New Age Alpha Advisors LLC acquired a new position in Stride during the fourth quarter worth $252,000. Norges Bank acquired a new stake in shares of Stride in the 4th quarter worth $45,306,000. Loomis Sayles & Co. L P raised its holdings in shares of Stride by 24.8% during the 4th quarter. Loomis Sayles & Co. L P now owns 307,867 shares of the company’s stock worth $31,997,000 after acquiring an additional 61,190 shares during the period. Finally, Montanaro Asset Management Ltd boosted its position in shares of Stride by 18.4% during the 4th quarter. Montanaro Asset Management Ltd now owns 183,500 shares of the company’s stock valued at $19,071,000 after acquiring an additional 28,500 shares during the last quarter. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. BMO Capital Markets boosted their target price on shares of Stride from $134.00 to $139.00 and gave the company an “outperform” rating in a report on Tuesday, April 1st. Morgan Stanley lifted their target price on Stride from $94.00 to $109.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. Barrington Research reiterated an “outperform” rating and set a $140.00 price target on shares of Stride in a report on Friday, March 14th. Finally, Canaccord Genuity Group upped their target price 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 company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $120.17.

Stride Stock Performance

NYSE LRN opened at $124.24 on Wednesday. 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 has a market cap of $5.41 billion, a P/E ratio of 20.74, a P/E/G ratio of 1.04 and a beta of 0.47. The stock has a 50-day moving average of $131.41 and a two-hundred day moving average of $110.15. Stride, Inc. has a 1-year low of $56.17 and a 1-year high of $145.00.

Stride (NYSE:LRN) last announced its earnings results on Tuesday, January 28th. The company reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.11. Stride had a net margin of 12.30% and a return on equity of 22.42%. As a group, analysts anticipate that Stride, Inc. will post 6.67 EPS for the current year.

Stride Company Profile

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.