Xiangdong Chen Buys 73,801 Shares of Gaotu Techedu (NYSE:GOTU) Stock

Gaotu Techedu Inc. (NYSE:GOTU) CEO Xiangdong Chen purchased 73,801 shares of the stock in a transaction on Tuesday, June 16th. The stock was acquired at an average cost of $2.28 per share, for a total transaction of $168,266.28. Following the completion of the acquisition, the chief executive officer owned 7,788,330 shares of the company’s stock, valued at $17,757,392.40. The trade was a 0.96% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, June 17th, Xiangdong Chen acquired 59,148 shares of Gaotu Techedu stock. The shares were bought at an average price of $2.42 per share, with a total value of $143,138.16.
• On Thursday, June 11th, Xiangdong Chen acquired 200,000 shares of Gaotu Techedu stock. The stock was bought at an average cost of $2.23 per share, with a total value of $446,000.00.

Gaotu Techedu Stock Performance

Shares of GOTU stock opened at $1.65 on Friday. Gaotu Techedu Inc. has a 52-week low of $1.40 and a 52-week high of $4.12. The stock has a market cap of $394.55 million, a PE ratio of -6.85 and a beta of 0.60. The business has a 50-day simple moving average of $1.82 and a 200-day simple moving average of $2.09. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 0.10.

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

Institutional Investors Weigh In On Gaotu Techedu

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SmartHarvest Portfolios LLC purchased a new position in Gaotu Techedu during the first quarter valued at $29,000. Walleye Trading LLC raised its position in shares of Gaotu Techedu by 110.1% during the 2nd quarter. Walleye Trading LLC now owns 21,722 shares of the company’s stock worth $78,000 after purchasing an additional 11,383 shares during the last quarter. HRT Financial LP lifted its stake in Gaotu Techedu by 86.6% in the 4th 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. Quadrature Capital Ltd acquired a new stake in Gaotu Techedu in the 4th quarter worth about $92,000. Finally, Centiva Capital LP purchased a new stake in Gaotu Techedu during the 3rd quarter worth approximately $133,000. Hedge funds and other institutional investors own 48.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of 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.com, the stock has an average rating of “Sell”.

Gaotu Techedu Company Profile

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.