Gaotu Techedu Inc. (NYSE:GOTU) Shares Bought by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd lifted its holdings in shares of Gaotu Techedu Inc. (NYSE:GOTU - Free Report) by 20.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,373,915 shares of the company's stock after buying an additional 909,354 shares during the period. Gaotu Techedu makes up approximately 3.0% of Harvest Fund Management Co. Ltd's holdings, making the stock its 7th largest position. Harvest Fund Management Co. Ltd owned approximately 2.06% of Gaotu Techedu worth $19,507,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in GOTU. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Gaotu Techedu during the third quarter worth about $29,000. QRG Capital Management Inc. acquired a new stake in shares of Gaotu Techedu during the third quarter worth about $76,000. Barclays PLC raised its holdings in Gaotu Techedu by 5,100.0% during the second quarter. Barclays PLC now owns 52,000 shares of the company's stock worth $150,000 after purchasing an additional 51,000 shares in the last quarter. California Public Employees Retirement System raised its holdings in Gaotu Techedu by 21.5% during the third quarter. California Public Employees Retirement System now owns 279,490 shares of the company's stock worth $771,000 after purchasing an additional 49,540 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Gaotu Techedu during the third quarter worth about $3,300,000. Institutional investors and hedge funds own 48.42% of the company's stock.

Gaotu Techedu Stock Performance

NYSE GOTU traded up $0.50 during mid-day trading on Tuesday, reaching $6.99. 3,850,429 shares of the stock were exchanged, compared to its average volume of 5,428,458. Gaotu Techedu Inc. has a 1-year low of $2.22 and a 1-year high of $8.42. The business's fifty day simple moving average is $6.66 and its 200 day simple moving average is $4.38. The stock has a market capitalization of $1.82 billion, a PE ratio of -698.30 and a beta of 0.05.

Gaotu Techedu (NYSE:GOTU - Get Free Report) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.07) earnings per share for the quarter. The company had revenue of $107.19 million during the quarter. Gaotu Techedu had a negative net margin of 0.10% and a negative return on equity of 0.10%.

Analysts Set New Price Targets

Several research analysts recently issued reports on GOTU shares. Citigroup raised shares of Gaotu Techedu from a "sell" rating to a "buy" rating and increased their price target for the stock from $2.48 to $4.50 in a report on Wednesday, January 3rd. CLSA raised shares of Gaotu Techedu from an "underperform" rating to an "outperform" rating and set a $8.65 price target for the company in a report on Wednesday, February 28th.

Gaotu Techedu Company Profile

Gaotu Techedu Inc, a technology-driven education company, provides online K-12 after-school tutoring services in the People's Republic of China. The company provides foreign language courses comprising English and Japanese, as well as test preparation courses for students taking language certification exams; and professional courses primarily for college students and adults preparing for professional qualification exams, such teacher's qualification, Chartered Financial Analyst designation, Certified Public Accountant designation, Certified Tax Agent designation, securities qualification exams, and other exams.

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