Gaotu Techedu (NYSE:GOTU) CEO Xiangdong Chen Buys 59,148 Shares

Gaotu Techedu Inc. (NYSE:GOTU) CEO Xiangdong Chen purchased 59,148 shares of the business’s stock in a transaction on Wednesday, June 17th. The stock was acquired at an average cost of $2.42 per share, with a total value of $143,138.16. Following the completion of the acquisition, the chief executive officer directly owned 7,847,478 shares in the company, valued at $18,990,896.76. The trade was a 0.76% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Xiangdong Chen also recently made the following trade(s):

• On Tuesday, June 16th, Xiangdong Chen acquired 73,801 shares of Gaotu Techedu stock. The stock was acquired at an average cost of $2.28 per share, for a total transaction of $168,266.28.
• On Thursday, June 11th, Xiangdong Chen bought 200,000 shares of Gaotu Techedu stock. The stock was acquired at an average price of $2.23 per share, for a total transaction of $446,000.00.

Gaotu Techedu Trading Up 0.9%

Shares of NYSE:GOTU opened at $1.65 on Friday. The stock has a market capitalization of $394.55 million, a price-to-earnings ratio of -6.85 and a beta of 0.60. Gaotu Techedu Inc. has a 1-year low of $1.40 and a 1-year high of $4.12. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.91. The company has a 50 day moving average price of $1.82 and a 200 day moving average price of $2.09.

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

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded Gaotu Techedu from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 11th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of “Sell”.

Institutional Investors Weigh In On Gaotu Techedu

Large investors have recently made changes to their positions in the company. SmartHarvest Portfolios LLC acquired a new position in Gaotu Techedu in the 1st quarter worth approximately $29,000. HRT Financial LP raised its stake in Gaotu Techedu by 86.6% during the 4th quarter. HRT Financial LP now owns 22,020 shares of the company’s stock valued at $51,000 after purchasing an additional 10,221 shares during the period. Walleye Trading LLC lifted its holdings in shares of Gaotu Techedu by 110.1% in the second quarter. Walleye Trading LLC now owns 21,722 shares of the company’s stock valued at $78,000 after purchasing an additional 11,383 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Gaotu Techedu in the fourth quarter valued at $92,000. Finally, Federation des caisses Desjardins du Quebec acquired a new stake in shares of Gaotu Techedu in the fourth quarter worth $104,000. Institutional investors and hedge funds own 48.42% of the company’s stock.

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.