Harvest Fund Management Co. Ltd Decreases Holdings in Gaotu Techedu Inc. (NYSE:GOTU)

Harvest Fund Management Co. Ltd reduced its holdings in shares of Gaotu Techedu Inc. (NYSE:GOTU - Free Report) by 47.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,673,915 shares of the company's stock after selling 1,500,000 shares during the period. Harvest Fund Management Co. Ltd owned 0.64% of Gaotu Techedu worth $6,562,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. SG Americas Securities LLC bought a new position in shares of Gaotu Techedu during the second quarter valued at $75,000. Virtu Financial LLC bought a new stake in Gaotu Techedu in the 1st quarter worth approximately $133,000. Marshall Wace LLP grew its holdings in shares of Gaotu Techedu by 158.2% in the second quarter. Marshall Wace LLP now owns 77,562 shares of the company's stock worth $380,000 after acquiring an additional 47,522 shares during the period. GSA Capital Partners LLP boosted its holdings in shares of Gaotu Techedu by 249.7% in the third quarter. GSA Capital Partners LLP now owns 90,881 shares of the company's stock worth $356,000 after buying an additional 64,896 shares during the last quarter. Finally, Headlands Technologies LLC grew its holdings in Gaotu Techedu by 1,362.7% during the second quarter. Headlands Technologies LLC now owns 141,718 shares of the company's stock valued at $694,000 after purchasing an additional 132,029 shares during the period. Institutional investors own 48.42% of the company's stock.

Analysts Set New Price Targets

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

Gaotu Techedu Price Performance

Shares of Gaotu Techedu stock remained flat at $2.55 on Monday. 1,138,396 shares of the stock were exchanged, compared to its average volume of 3,358,950. The firm's 50-day moving average price is $3.15 and its 200 day moving average price is $4.34. The stock has a market cap of $661.90 million, a PE ratio of -7.50 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.

Gaotu Techedu (NYSE:GOTU - Get Free Report) last issued its 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 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.