BNP Paribas Financial Markets Sells 198,356 Shares of Gaotu Techedu Inc. (NYSE:GOTU)

BNP Paribas Financial Markets reduced its holdings in Gaotu Techedu Inc. (NYSE:GOTU - Free Report) by 24.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 604,092 shares of the company's stock after selling 198,356 shares during the period. BNP Paribas Financial Markets owned approximately 0.23% of Gaotu Techedu worth $1,323,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GOTU. Barclays PLC boosted its holdings in Gaotu Techedu by 87.8% during the third quarter. Barclays PLC now owns 73,008 shares of the company's stock worth $286,000 after buying an additional 34,133 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Gaotu Techedu by 14.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 832,996 shares of the company's stock valued at $3,265,000 after acquiring an additional 108,224 shares during the period. Catalyst Funds Management Pty Ltd bought a new position in Gaotu Techedu during the 4th quarter worth approximately $38,000. Norges Bank acquired a new position in Gaotu Techedu during the fourth quarter valued at approximately $3,583,000. Finally, Marshall Wace LLP bought a new stake in Gaotu Techedu in the fourth quarter valued at approximately $781,000. 48.42% of the stock is owned by institutional investors.

Gaotu Techedu Price Performance

GOTU remained flat at $3.73 during mid-day trading on Friday. 1,223,309 shares of the company's stock traded hands, compared to its average volume of 2,236,757. The business's fifty day simple moving average is $3.17 and its two-hundred day simple moving average is $2.80. The firm has a market cap of $944.39 million, a price-to-earnings ratio of -6.54 and a beta of 0.29. Gaotu Techedu Inc. has a 12 month low of $1.87 and a 12 month high of $6.48.

Gaotu Techedu (NYSE:GOTU - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The company reported $0.07 EPS for the quarter, beating analysts' consensus estimates of ($0.05) by $0.12. The business 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 buyback plan on Thursday, May 15th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is 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.