Gaotu Techedu (NYSE:GOTU) CEO Buys $143,138.16 in Stock

Gaotu Techedu Inc. (NYSE:GOTU) CEO Xiangdong Chen acquired 59,148 shares of the business’s stock in a transaction on Wednesday, June 17th. The shares were purchased at an average cost of $2.42 per share, for a total transaction of $143,138.16. Following the completion of the acquisition, the chief executive officer directly owned 7,847,478 shares in the company, valued at approximately $18,990,896.76. The trade was a 0.76% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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 bought at an average cost of $2.28 per share, for a total transaction of $168,266.28.
• On Thursday, June 11th, Xiangdong Chen purchased 200,000 shares of Gaotu Techedu stock. The stock was bought at an average cost of $2.23 per share, for a total transaction of $446,000.00.

Gaotu Techedu Trading Up 4.2%

Shares of Gaotu Techedu stock opened at $1.63 on Thursday. Gaotu Techedu Inc. has a 52-week low of $1.40 and a 52-week high of $4.12. The stock’s 50-day simple moving average is $1.82 and its 200 day simple moving average is $2.09. The stock has a market capitalization of $389.76 million, a P/E ratio of -6.77 and a beta of 0.60. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.91.

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut 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, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

Institutional Trading of Gaotu Techedu

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Gaotu Techedu by 1.2% in the third quarter. Vanguard Group Inc. now owns 5,192,148 shares of the company’s stock worth $16,926,000 after buying an additional 63,891 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Gaotu Techedu by 2.2% in the first quarter. Renaissance Technologies LLC now owns 2,330,640 shares of the company’s stock worth $4,568,000 after buying an additional 50,362 shares in the last quarter. Millennium Management LLC boosted its stake in Gaotu Techedu by 602.0% in the first quarter. Millennium Management LLC now owns 1,996,144 shares of the company’s stock worth $6,487,000 after buying an additional 1,711,774 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Gaotu Techedu by 157.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,568,492 shares of the company’s stock worth $5,662,000 after buying an additional 958,782 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in Gaotu Techedu by 3,628.9% in the second quarter. Marshall Wace LLP now owns 788,541 shares of the company’s stock worth $2,847,000 after buying an additional 767,394 shares in the last quarter. Hedge funds and other institutional investors own 48.42% of the company’s stock.

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.