Bank of America Corp DE Has $437,000 Stock Holdings in Gaotu Techedu Inc. (NYSE:GOTU)

Bank of America Corp DE lessened its stake in shares of Gaotu Techedu Inc. (NYSE:GOTU - Free Report) by 27.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 199,339 shares of the company's stock after selling 75,502 shares during the quarter. Bank of America Corp DE owned approximately 0.08% of Gaotu Techedu worth $437,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the company. Catalyst Funds Management Pty Ltd purchased a new stake in Gaotu Techedu during the 4th quarter worth $38,000. Two Sigma Securities LLC bought a new stake in Gaotu Techedu during the 4th quarter valued at $86,000. Barclays PLC increased its stake in shares of Gaotu Techedu by 195.8% during the fourth quarter. Barclays PLC now owns 215,982 shares of the company's stock valued at $473,000 after acquiring an additional 142,974 shares during the period. Marshall Wace LLP acquired a new stake in Gaotu Techedu in the 4th quarter valued at about $781,000. Finally, Norges Bank purchased a new stake in shares of Gaotu Techedu during the fourth quarter valued at $3,583,000. Hedge funds and other institutional investors own 48.42% of the company's stock.

Gaotu Techedu Price Performance

Gaotu Techedu stock traded up $0.01 during trading hours on Thursday, hitting $4.00. The company had a trading volume of 615,046 shares, compared to its average volume of 2,163,985. The firm has a market capitalization of $1.01 billion, a P/E ratio of -7.02 and a beta of 0.42. Gaotu Techedu Inc. has a fifty-two week low of $1.87 and a fifty-two week high of $5.80. The firm's fifty day moving average is $3.34 and its 200-day moving average is $2.90.

Gaotu Techedu (NYSE:GOTU - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The company reported $0.07 EPS for the quarter, topping analysts' consensus estimates of ($0.05) by $0.12. The firm had revenue of $28.53 million during the quarter, compared to analysts' expectations of $189.76 million. Gaotu Techedu had a negative net margin of 26.36% and a negative return on equity of 37.79%.

Gaotu Techedu declared that its board has authorized a stock repurchase program on Thursday, May 15th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

About Gaotu Techedu

Gaotu Techedu Inc, a technology-driven education company, provides learning services, educational content, and digitalized learning products in the People's Republic of China. The company offers traditional online academic subject tutoring services that covers academic subjects, such as mathematics, English, Chinese, physics, chemistry, biology, history, geography, and political science for students; non-academic tutoring services; personal interest courses comprising chess learning, family relationships and education, humanities, and science courses; and professional courses primarily for college students and adults preparing for professional qualification exams, such as teacher's qualification, Chartered Financial Analyst designation, Certified Public Accountant designation, and other exams.