Insider Buying: Gaotu Techedu (NYSE:GOTU) CEO Acquires $143,138.16 in Stock

Gaotu Techedu Inc. (NYSE:GOTU) CEO Xiangdong Chen purchased 59,148 shares of Gaotu Techedu stock in a transaction that occurred on Wednesday, June 17th. The shares were bought at an average price of $2.42 per share, with a total value of $143,138.16. Following the transaction, the chief executive officer 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 acquisition was disclosed in a document filed with the SEC, which is accessible through 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 purchased at an average price 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 shares were acquired at an average price of $2.23 per share, for a total transaction of $446,000.00.

Gaotu Techedu Trading Down 0.3%

Shares of Gaotu Techedu stock opened at $1.65 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.91 and a quick ratio of 0.89. Gaotu Techedu Inc. has a 1-year low of $1.40 and a 1-year high of $4.12. The stock’s 50 day simple moving average is $1.81 and its 200-day simple moving average is $2.08. The stock has a market cap of $394.55 million, a P/E ratio of -6.85 and a beta of 0.60.

Gaotu Techedu (NYSE:GOTU) last announced its quarterly earnings results on Tuesday, June 2nd. The company reported $0.02 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 analyst estimates of $233.35 million.

Institutional Investors Weigh In On Gaotu Techedu

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GOTU. SmartHarvest Portfolios LLC acquired a new position in shares of Gaotu Techedu in the 1st quarter valued at $29,000. HRT Financial LP increased its holdings in shares of Gaotu Techedu by 86.6% in the fourth quarter. HRT Financial LP now owns 22,020 shares of the company’s stock valued at $51,000 after purchasing an additional 10,221 shares during the period. Walleye Trading LLC raised its stake in shares of 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 purchasing an additional 11,383 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Gaotu Techedu during the fourth quarter worth approximately $92,000. Finally, Federation des caisses Desjardins du Quebec acquired a new stake in shares of Gaotu Techedu during the fourth quarter worth $104,000. Hedge funds and other institutional investors own 48.42% of the company’s stock.

Analyst Upgrades and Downgrades

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 investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently 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.