Point72 Asset Management L.P. Sells 830,002 Shares of Gaotu Techedu Inc. (NYSE:GOTU)

Point72 Asset Management L.P. lowered its stake in Gaotu Techedu Inc. (NYSE:GOTU) by 92.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,098 shares of the company’s stock after selling 830,002 shares during the quarter. Point72 Asset Management L.P.’s holdings in Gaotu Techedu were worth $334,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Headlands Technologies LLC bought a new stake in shares of Gaotu Techedu in the 1st quarter valued at $63,000. SG Americas Securities LLC bought a new stake in Gaotu Techedu during the 2nd quarter valued at $75,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Gaotu Techedu during the 1st quarter valued at $99,000. Virtu Financial LLC bought a new stake in Gaotu Techedu during the 1st quarter valued at $133,000. Finally, Marshall Wace LLP increased its stake in Gaotu Techedu by 158.2% during the 2nd quarter. Marshall Wace LLP now owns 77,562 shares of the company’s stock valued at $380,000 after purchasing an additional 47,522 shares in the last quarter. Institutional investors own 48.42% of the company’s stock.

Gaotu Techedu Price Performance

GOTU opened at $3.92 on Friday. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of -49.00 and a beta of -0.01. The firm’s fifty day moving average price is $3.67 and its two-hundred day moving average price is $5.25. Gaotu Techedu Inc. has a 1 year low of $2.22 and a 1 year high of $8.44.

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

Analyst Upgrades and Downgrades

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

Gaotu Techedu 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.