Citigroup Inc. Sells 182,215 Shares of Gaotu Techedu Inc. (NYSE:GOTU)

Citigroup Inc. reduced its position in shares of Gaotu Techedu Inc. (NYSE:GOTU - Free Report) by 5.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,351,729 shares of the company's stock after selling 182,215 shares during the quarter. Citigroup Inc. owned about 1.29% of Gaotu Techedu worth $13,139,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GOTU. GSA Capital Partners LLP raised its position in shares of Gaotu Techedu by 249.7% during the 3rd quarter. GSA Capital Partners LLP now owns 90,881 shares of the company's stock valued at $356,000 after acquiring an additional 64,896 shares during the last quarter. SG Americas Securities LLC increased its holdings in Gaotu Techedu by 473.6% in the third quarter. SG Americas Securities LLC now owns 88,231 shares of the company's stock valued at $346,000 after purchasing an additional 72,849 shares during the last quarter. BRIGHT VALLEY CAPITAL Ltd acquired a new position in Gaotu Techedu in the second quarter valued at about $2,450,000. Millennium Management LLC boosted its holdings in Gaotu Techedu by 1,233.8% during the second quarter. Millennium Management LLC now owns 579,011 shares of the company's stock worth $2,837,000 after buying an additional 535,601 shares during the last quarter. Finally, Marshall Wace LLP grew its position in shares of Gaotu Techedu by 158.2% during the 2nd quarter. Marshall Wace LLP now owns 77,562 shares of the company's stock worth $380,000 after buying an additional 47,522 shares during the period. 48.42% of the stock is owned by institutional investors.

Gaotu Techedu Stock Down 2.6 %

Shares of GOTU traded down $0.08 during trading hours on Friday, reaching $2.80. The stock had a trading volume of 1,479,086 shares, compared to its average volume of 3,352,502. The company has a market cap of $725.50 million, a P/E ratio of -8.26 and a beta of 0.02. Gaotu Techedu Inc. has a 52 week low of $2.30 and a 52 week high of $8.44. The firm has a 50-day moving average of $3.15 and a 200 day moving average of $4.25.

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

Wall Street Analysts Forecast Growth

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.