BNP Paribas Financial Markets Sells 13,098 Shares of Gaotu Techedu Inc. (NYSE:GOTU)

BNP Paribas Financial Markets cut its stake in Gaotu Techedu Inc. (NYSE:GOTU) by 1.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 802,448 shares of the company’s stock after selling 13,098 shares during the quarter. BNP Paribas Financial Markets’ holdings in Gaotu Techedu were worth $3,146,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GOTU. Millennium Management LLC grew its holdings in Gaotu Techedu by 1,233.8% during the 2nd quarter. Millennium Management LLC now owns 579,011 shares of the company’s stock valued at $2,837,000 after buying an additional 535,601 shares in the last quarter. BRIGHT VALLEY CAPITAL Ltd purchased a new position in Gaotu Techedu during the second quarter valued at approximately $2,450,000. National Bank of Canada FI bought a new stake in Gaotu Techedu during the 2nd quarter worth approximately $2,135,000. Headlands Technologies LLC lifted its stake in Gaotu Techedu by 1,362.7% in the 2nd quarter. Headlands Technologies LLC now owns 141,718 shares of the company’s stock worth $694,000 after purchasing an additional 132,029 shares in the last quarter. Finally, Jupiter Asset Management Ltd. bought a new position in Gaotu Techedu in the 2nd quarter valued at $693,000. 48.42% of the stock is currently owned by institutional investors.

Gaotu Techedu Price Performance

Shares of GOTU opened at $2.55 on Friday. Gaotu Techedu Inc. has a 1-year low of $2.47 and a 1-year high of $8.44. The company has a market capitalization of $661.90 million, a P/E ratio of -4.47 and a beta of -0.01. The firm’s 50 day simple moving average is $3.15 and its 200 day simple moving average is $4.08.

Wall Street Analysts Forecast Growth

Separately, Citigroup downgraded Gaotu Techedu from a “buy” rating to a “sell” rating in a research report on Tuesday, August 27th.

Gaotu Techedu Company Profile

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.