Key Points
- Gaotu Techedu CEO Xiangdong Chen bought 167,051 shares on June 18 at an average price of $2.50, spending $417,627.50. After the purchase, his total holding rose to 8,014,529 shares, worth about $20.0 million.
- Chen has been aggressively accumulating shares over several days, including additional purchases on June 17, June 16, and June 11. In total, the recent buying spree signals continued insider confidence in the company.
- Gaotu Techedu reported quarterly EPS of $0.02 and revenue of $245.04 million, topping analyst revenue expectations. Despite that, the stock remains under pressure, and Weiss Ratings recently cut its view to a sell (e+).
Gaotu Techedu Inc. (NYSE:GOTU - Get Free Report) CEO Xiangdong Chen purchased 167,051 shares of the business's stock in a transaction dated Thursday, June 18th. The shares were acquired at an average price of $2.50 per share, with a total value of $417,627.50. Following the completion of the acquisition, the chief executive officer owned 8,014,529 shares of the company's stock, valued at approximately $20,036,322.50. The trade was a 2.13% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Xiangdong Chen also recently made the following trade(s):
- On Wednesday, June 17th, Xiangdong Chen acquired 59,148 shares of Gaotu Techedu stock. The stock was acquired at an average cost of $2.42 per share, with a total value of $143,138.16.
- On Tuesday, June 16th, Xiangdong Chen acquired 73,801 shares of Gaotu Techedu stock. The stock was bought at an average price of $2.28 per share, for a total transaction of $168,266.28.
- On Thursday, June 11th, Xiangdong Chen bought 200,000 shares of Gaotu Techedu stock. The shares were bought at an average cost of $2.23 per share, for a total transaction of $446,000.00.
Gaotu Techedu Trading Up 2.1%
Shares of GOTU stock opened at $1.69 on Tuesday. The firm has a market capitalization of $404.15 million, a P/E ratio of -7.02 and a beta of 0.60. Gaotu Techedu Inc. has a 1 year low of $1.40 and a 1 year high of $4.12. The firm's fifty day simple moving average is $1.80 and its 200 day simple moving average is $2.07. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10.
Gaotu Techedu (NYSE:GOTU - Get Free Report) last issued its quarterly earnings results on Tuesday, June 2nd. The company reported $0.02 earnings per share for the quarter. The firm had revenue of $245.04 million during the quarter, compared to the consensus estimate of $233.35 million. Gaotu Techedu had a negative net margin of 6.42% and a negative return on equity of 29.69%.
Institutional Trading of Gaotu Techedu
Institutional investors and hedge funds have recently modified their holdings of the company. SmartHarvest Portfolios LLC acquired a new position in shares of Gaotu Techedu in the first quarter valued at $29,000. Walleye Trading LLC boosted its stake in Gaotu Techedu by 110.1% during the second quarter. Walleye Trading LLC now owns 21,722 shares of the company's stock worth $78,000 after buying an additional 11,383 shares in the last quarter. HRT Financial LP boosted its stake in Gaotu Techedu by 86.6% during the fourth quarter. HRT Financial LP now owns 22,020 shares of the company's stock worth $51,000 after buying an additional 10,221 shares in the last quarter. Quadrature Capital Ltd bought a new stake in Gaotu Techedu in the 4th quarter valued at $92,000. Finally, Centiva Capital LP bought a new stake in Gaotu Techedu in the 3rd quarter valued at $133,000. 48.42% of the stock is currently owned by institutional investors.
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 note on Thursday, June 11th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Gaotu Techedu currently has an average rating of "Sell".
Read Our Latest Stock Report on GOTU
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.
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