Marshall Wace LLP Grows Position in Gaotu Techedu Inc. (NYSE:GOTU)

Marshall Wace LLP grew its stake in Gaotu Techedu Inc. (NYSE:GOTU) by 158.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 77,562 shares of the company’s stock after buying an additional 47,522 shares during the period. Marshall Wace LLP’s holdings in Gaotu Techedu were worth $380,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in GOTU. Goldman Sachs Group Inc. increased its holdings 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 buying an additional 6,733,849 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of 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 worth $15,491,000 after purchasing an additional 1,169,300 shares during the last quarter. HCEP Management Ltd acquired a new position in Gaotu Techedu during the fourth quarter valued at $3,620,000. BNP Paribas Financial Markets acquired a new position in Gaotu Techedu during the first quarter valued at $6,360,000. Finally, National Bank of Canada FI purchased a new stake in Gaotu Techedu in the second quarter valued at $2,135,000. 48.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Gaotu Techedu Price Performance

NYSE:GOTU opened at $3.71 on Friday. The company has a 50 day moving average price of $3.60 and a 200-day moving average price of $5.16. Gaotu Techedu Inc. has a 1-year low of $2.22 and a 1-year high of $8.44. The firm has a market cap of $958.76 million, a price-to-earnings ratio of -46.38 and a beta of -0.01.

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

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.