Gaotu Techedu Inc. (NYSE:GOTU – Get Free Report) CEO Xiangdong Chen acquired 59,148 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was bought at an average price of $2.42 per share, for a total transaction of $143,138.16. Following the completion of the acquisition, 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.
Xiangdong Chen also recently made the following trade(s):
- On Tuesday, June 16th, Xiangdong Chen bought 73,801 shares of Gaotu Techedu stock. The stock was acquired at an average cost 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 purchased at an average cost of $2.23 per share, with a total value of $446,000.00.
Gaotu Techedu Trading Up 4.2%
GOTU opened at $1.63 on Thursday. Gaotu Techedu Inc. has a twelve month low of $1.40 and a twelve month high of $4.12. The company 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. The stock has a market capitalization of $389.76 million, a price-to-earnings ratio of -6.77 and a beta of 0.60.
Analysts Set New Price Targets
Separately, Weiss Ratings downgraded shares of Gaotu Techedu from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Gaotu Techedu presently has an average rating of “Sell”.
Read Our Latest Analysis on GOTU
Hedge Funds Weigh In On Gaotu Techedu
Large investors have recently modified their holdings of the company. Millennium Management LLC raised its holdings in shares of Gaotu Techedu by 602.0% in the 1st quarter. Millennium Management LLC now owns 1,996,144 shares of the company’s stock worth $6,487,000 after acquiring an additional 1,711,774 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Gaotu Techedu by 157.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,568,492 shares of the company’s stock worth $5,662,000 after acquiring an additional 958,782 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Gaotu Techedu by 3,628.9% in the 2nd quarter. Marshall Wace LLP now owns 788,541 shares of the company’s stock worth $2,847,000 after acquiring an additional 767,394 shares during the last quarter. Ameriprise Financial Inc. acquired a new stake in shares of Gaotu Techedu in the 2nd quarter worth about $910,000. Finally, Jump Financial LLC acquired a new stake in shares of Gaotu Techedu in the 2nd quarter worth about $682,000. 48.42% of the stock is currently owned by institutional investors.
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.
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