Gaotu Techedu Inc. (NYSE:GOTU) Holdings Trimmed by Renaissance Technologies LLC

Renaissance Technologies LLC lowered its holdings in Gaotu Techedu Inc. (NYSE:GOTU) by 10.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,483,900 shares of the company’s stock after selling 275,500 shares during the period. Renaissance Technologies LLC owned approximately 0.96% of Gaotu Techedu worth $12,171,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Goldman Sachs Group Inc. lifted its stake in Gaotu Techedu by 2,548.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,998,033 shares of the company’s stock worth $25,333,000 after acquiring an additional 6,733,849 shares in the last quarter. Tiger Pacific Capital LP acquired a new stake in shares of Gaotu Techedu during the fourth quarter worth approximately $10,665,000. Healthcare of Ontario Pension Plan Trust Fund grew its position in Gaotu Techedu by 97.8% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,365,100 shares of the company’s stock valued at $15,491,000 after purchasing an additional 1,169,300 shares in the last quarter. HCEP Management Ltd acquired a new position in Gaotu Techedu in the 4th quarter valued at approximately $3,620,000. Finally, BNP Paribas Financial Markets purchased a new stake in Gaotu Techedu in the 1st quarter worth approximately $6,360,000. Institutional investors and hedge funds own 48.42% of the company’s stock.

Analyst Upgrades and Downgrades

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

Gaotu Techedu Price Performance

Shares of Gaotu Techedu stock opened at $2.79 on Monday. The firm has a market cap of $721.01 million, a price-to-earnings ratio of -34.88 and a beta of -0.02. The stock has a 50-day simple moving average of $3.94 and a 200-day simple moving average of $5.50. Gaotu Techedu Inc. has a 52-week low of $2.22 and a 52-week high of $8.44.

Gaotu Techedu (NYSE:GOTU) last issued its quarterly earnings data on Tuesday, August 27th. The company reported ($0.23) earnings per share for the quarter. The business had revenue of $138.95 million for the quarter. Gaotu Techedu had a negative net margin of 17.63% and a negative return on equity of 20.26%.

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.