Insider Selling: New Oriental Education & Technology Group (NYSE:EDU) Director Sells $735,088.64 in Stock

New Oriental Education & Technology Group, Inc. (NYSE:EDU) Director Chenggang Zhou sold 13,052 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $56.32, for a total transaction of $735,088.64. Following the transaction, the director owned 486,946 shares in the company, valued at $27,424,798.72. This represents a 2.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Chenggang Zhou also recently made the following trade(s):

• On Monday, August 10th, Chenggang Zhou sold 56,948 shares of New Oriental Education & Technology Group stock. The stock was sold at an average price of $56.83, for a total transaction of $3,236,354.84.

New Oriental Education & Technology Group Price Performance

Shares of EDU opened at $52.30 on Friday. The stock has a 50-day moving average of $49.57 and a 200-day moving average of $53.10. The company has a market cap of $8.27 billion, a PE ratio of 17.67, a P/E/G ratio of 0.57 and a beta of 0.24. New Oriental Education & Technology Group, Inc. has a one year low of $44.25 and a one year high of $64.97.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On New Oriental Education & Technology Group

Several large investors have recently bought and sold shares of EDU. Amundi grew its position in New Oriental Education & Technology Group by 14.4% in the 1st quarter. Amundi now owns 507,774 shares of the company’s stock worth $28,755,000 after purchasing an additional 63,845 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of New Oriental Education & Technology Group by 106.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company’s stock worth $31,000 after buying an additional 279 shares in the last quarter. Quantinno Capital Management LP boosted its stake in shares of New Oriental Education & Technology Group by 27.9% in the 1st quarter. Quantinno Capital Management LP now owns 48,862 shares of the company’s stock worth $2,767,000 after buying an additional 10,669 shares during the last quarter. Lazard Asset Management LLC purchased a new position in shares of New Oriental Education & Technology Group in the 1st quarter worth approximately $18,528,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of New Oriental Education & Technology Group in the first quarter valued at approximately $209,000.

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.