Gaotu Techedu (NYSE:GOTU) CEO Acquires $446,000.00 in Stock

Gaotu Techedu Inc. (NYSE:GOTU) CEO Xiangdong Chen acquired 200,000 shares of Gaotu Techedu stock in a transaction that occurred on Thursday, June 11th. The shares were purchased at an average cost of $2.23 per share, with a total value of $446,000.00. Following the purchase, the chief executive officer owned 7,714,529 shares of the company’s stock, valued at $17,203,399.67. This represents a 2.66% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Gaotu Techedu Stock Performance

Gaotu Techedu stock opened at $1.53 on Monday. Gaotu Techedu Inc. has a 1-year low of $1.40 and a 1-year high of $4.12. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $365.77 million, a PE ratio of -6.35 and a beta of 0.60. The firm’s 50 day simple moving average is $1.85 and its 200 day simple moving average is $2.11.

Gaotu Techedu (NYSE:GOTU) last announced its quarterly earnings results on Tuesday, June 2nd. The company reported $0.02 EPS for the quarter. The firm had revenue of $245.04 million during the quarter, compared to the consensus estimate of $233.35 million. Gaotu Techedu had a negative net margin of 6.42% and a negative return on equity of 29.69%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut Gaotu Techedu from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Gaotu Techedu by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 5,192,148 shares of the company’s stock worth $16,926,000 after acquiring an additional 63,891 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Gaotu Techedu by 2.2% during the 1st quarter. Renaissance Technologies LLC now owns 2,330,640 shares of the company’s stock valued at $4,568,000 after purchasing an additional 50,362 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Gaotu Techedu by 602.0% during the 1st quarter. Millennium Management LLC now owns 1,996,144 shares of the company’s stock valued at $6,487,000 after purchasing an additional 1,711,774 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Gaotu Techedu by 157.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,568,492 shares of the company’s stock worth $5,662,000 after purchasing an additional 958,782 shares during the period. Finally, Marshall Wace LLP raised its position in Gaotu Techedu by 3,628.9% in the 2nd quarter. Marshall Wace LLP now owns 788,541 shares of the company’s stock worth $2,847,000 after purchasing an additional 767,394 shares during the period. 48.42% of the stock is currently owned by institutional investors.

About Gaotu Techedu

Gaotu Techedu Inc (NYSE:GOTU), formerly known as GSX Techedu, is a Beijing-based provider of online education services in China. Since its founding in 2014, the company has built a technology-driven platform that delivers live, interactive tutoring sessions to students primarily in the K-12 segment. Gaotu Techedu’s rebranding in 2021 underscored its commitment to leveraging cutting-edge digital tools to expand access to quality instruction across core academic subjects.

The company’s main offerings include small-group and one-on-one classes in mathematics, Chinese, English, physics and chemistry, as well as targeted test preparation for high-stakes national and local examinations.