Key Points
- Gaotu Techedu CEO Xiangdong Chen bought 59,148 shares on June 17 at an average price of $2.42, totaling $143,138.16. His ownership rose by 0.76% to 7,847,478 shares, worth about $18.99 million.
- Chen has been buying aggressively this month, including 73,801 shares on June 16 and 200,000 shares on June 11, suggesting continued insider confidence in the company.
- The stock remains under pressure, opening at $1.65 with a market cap of $394.55 million, while analysts currently rate GOTU as a Sell after a recent downgrade by Weiss Ratings.
Gaotu Techedu Inc. (NYSE:GOTU - Get Free Report) CEO Xiangdong Chen bought 59,148 shares of the stock in a transaction on Wednesday, June 17th. The shares were acquired at an average cost of $2.42 per share, for a total transaction of $143,138.16. Following the purchase, the chief executive officer owned 7,847,478 shares in the company, valued at approximately $18,990,896.76. This represents a 0.76% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
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, with a total value of $168,266.28.
- On Thursday, June 11th, Xiangdong Chen purchased 200,000 shares of Gaotu Techedu stock. The shares were bought at an average price of $2.23 per share, with a total value of $446,000.00.
Gaotu Techedu Stock Performance
Shares of GOTU opened at $1.65 on Friday. The company has a market capitalization of $394.55 million, a PE ratio of -6.85 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. The company's 50 day moving average price is $1.82 and its 200 day moving average price is $2.09. Gaotu Techedu Inc. has a 52 week low of $1.40 and a 52 week high of $4.12.
Gaotu Techedu (NYSE:GOTU - Get Free Report) last posted its quarterly earnings results on Tuesday, June 2nd. The company reported $0.02 earnings per share for the quarter. Gaotu Techedu had a negative net margin of 6.42% and a negative return on equity of 29.69%. The business had revenue of $245.04 million for the quarter, compared to the consensus estimate of $233.35 million.
Wall Street Analyst Weigh In
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 research analyst has rated the stock with a Sell rating, According to MarketBeat, Gaotu Techedu presently has an average rating of "Sell".
View Our Latest Report on GOTU
Institutional Investors Weigh In On Gaotu Techedu
A number of large investors have recently bought and sold shares of GOTU. Millennium Management LLC increased its position in Gaotu Techedu by 602.0% during 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 during the last quarter. American Century Companies Inc. lifted its position in shares of Gaotu Techedu by 57.0% in the second 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 last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of 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 during the last quarter. Walleye Trading LLC boosted its stake 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 acquiring an additional 11,383 shares in the last quarter. Finally, Marshall Wace LLP increased its holdings in shares of Gaotu Techedu by 3,628.9% during the 2nd quarter. Marshall Wace LLP now owns 788,541 shares of the company's stock valued at $2,847,000 after acquiring an additional 767,394 shares during the last quarter. 48.42% of the stock is currently owned by institutional investors.
About Gaotu Techedu
(
Get Free Report)
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.
Further Reading
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