Insider Selling: New Oriental Education & Technology Group (NYSE:EDU) Director Sells $33,624.30 in Stock

New Oriental Education & Technology Group, Inc. (NYSE:EDU) Director Yue Zhuge sold 570 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $58.99, for a total transaction of $33,624.30. Following the sale, the director owned 1,600 shares in the company, valued at approximately $94,384. This trade represents a 26.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Yue Zhuge also recently made the following trade(s):

• On Monday, August 3rd, Yue Zhuge sold 1,600 shares of New Oriental Education & Technology Group stock. The stock was sold at an average price of $59.55, for a total transaction of $95,280.00.

New Oriental Education & Technology Group Trading Down 0.3%

New Oriental Education & Technology Group stock opened at $56.78 on Friday. New Oriental Education & Technology Group, Inc. has a twelve month low of $44.25 and a twelve month high of $64.97. The stock’s fifty day simple moving average is $48.72 and its 200-day simple moving average is $53.12. The firm has a market capitalization of $8.97 billion, a P/E ratio of 19.18, a P/E/G ratio of 0.60 and a beta of 0.24.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of EDU. EverSource Wealth Advisors LLC lifted its position in shares of New Oriental Education & Technology Group by 106.9% during the first quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company’s stock worth $31,000 after purchasing an additional 279 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in New Oriental Education & Technology Group by 10.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,372 shares of the company’s stock worth $186,000 after buying an additional 324 shares in the last quarter. Vident Advisory LLC boosted its position in New Oriental Education & Technology Group by 8.2% in the 4th quarter. Vident Advisory LLC now owns 5,939 shares of the company’s stock valued at $327,000 after buying an additional 449 shares during the last quarter. Ieq Capital LLC grew its stake in shares of New Oriental Education & Technology Group by 11.5% during the fourth quarter. Ieq Capital LLC now owns 4,760 shares of the company’s stock valued at $262,000 after acquiring an additional 492 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of New Oriental Education & Technology Group by 7,314.3% during the third quarter. Caitong International Asset Management Co. Ltd now owns 519 shares of the company’s stock worth $28,000 after acquiring an additional 512 shares during the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on EDU. New Street Research set a $56.50 price objective on New Oriental Education & Technology Group in a research note on Thursday, July 30th. The Goldman Sachs Group upgraded shares of New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and cut their target price for the stock from $67.00 to $65.00 in a research note on Thursday, June 11th. Wall Street Zen cut shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of New Oriental Education & Technology Group in a research note on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, New Oriental Education & Technology Group currently has a consensus rating of “Moderate Buy” and an average target price of $64.54.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group (NYSE: EDU) is one of China’s leading providers of private educational services, specializing in language training, test preparation and consulting for overseas study. The company’s offerings span a range of subjects, including English language instruction, preparatory courses for examinations such as the TOEFL, GRE and GMAT, and K-12 after-school tutoring. New Oriental’s curriculum is delivered through a combination of in-person learning centers and digital platforms, enabling students across various regions to access its educational resources.

Founded in 1993 by Michael Yu Minhong in Beijing, New Oriental began as a small language school and quickly expanded its footprint.