Xiangdong Chen Acquires 59,148 Shares of Gaotu Techedu (NYSE:GOTU) Stock

Gaotu Techedu Inc. (NYSE:GOTU) CEO Xiangdong Chen purchased 59,148 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was bought at an average price of $2.42 per share, with a total value of $143,138.16. Following the purchase, the chief executive officer owned 7,847,478 shares of the company’s stock, valued at approximately $18,990,896.76. The trade was a 0.76% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

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

Gaotu Techedu Price Performance

Shares of NYSE GOTU opened at $1.65 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.91 and a quick ratio of 0.89. Gaotu Techedu Inc. has a 1-year low of $1.40 and a 1-year high of $4.12. The business’s fifty day moving average price is $1.81 and its two-hundred day moving average price is $2.08. The firm has a market capitalization of $394.55 million, a PE ratio of -6.85 and a beta of 0.60.

Gaotu Techedu (NYSE:GOTU) last issued its quarterly earnings results on Tuesday, June 2nd. The company reported $0.02 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 analyst estimates of $233.35 million.

Institutional Investors Weigh In On Gaotu Techedu

Several hedge funds have recently modified their holdings of GOTU. HRT Financial LP boosted its position in Gaotu Techedu by 86.6% in the fourth quarter. HRT Financial LP now owns 22,020 shares of the company’s stock valued at $51,000 after buying an additional 10,221 shares in the last quarter. Walleye Trading LLC lifted its stake in shares of Gaotu Techedu by 110.1% during the second quarter. Walleye Trading LLC now owns 21,722 shares of the company’s stock valued at $78,000 after acquiring an additional 11,383 shares during the period. SmartHarvest Portfolios LLC bought a new position in Gaotu Techedu in the first quarter valued at approximately $29,000. Bank of America Corp DE boosted its position in shares of Gaotu Techedu by 10.5% in the 3rd quarter. Bank of America Corp DE now owns 164,737 shares of the company’s stock worth $537,000 after purchasing an additional 15,651 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of Gaotu Techedu by 57.0% during the 2nd quarter. American Century Companies Inc. now owns 61,076 shares of the company’s stock worth $220,000 after buying an additional 22,164 shares during the period. 48.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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.