Norges Bank Buys New Shares in Gaotu Techedu Inc. (NYSE:GOTU)

Norges Bank bought a new position in Gaotu Techedu Inc. (NYSE:GOTU - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 1,636,098 shares of the company's stock, valued at approximately $3,583,000. Norges Bank owned approximately 0.63% of Gaotu Techedu at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. State Street Corp raised its position in shares of Gaotu Techedu by 20.7% in the third quarter. State Street Corp now owns 525,166 shares of the company's stock worth $2,059,000 after buying an additional 90,115 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Gaotu Techedu in the 3rd quarter valued at about $38,000. Barclays PLC boosted its position in shares of Gaotu Techedu by 87.8% during the 3rd quarter. Barclays PLC now owns 73,008 shares of the company's stock valued at $286,000 after acquiring an additional 34,133 shares during the last quarter. Garden State Investment Advisory Services LLC purchased a new position in shares of Gaotu Techedu during the third quarter worth about $337,000. Finally, JPMorgan Chase & Co. increased its position in shares of Gaotu Techedu by 14.9% in the third quarter. JPMorgan Chase & Co. now owns 832,996 shares of the company's stock worth $3,265,000 after purchasing an additional 108,224 shares during the last quarter. 48.42% of the stock is owned by institutional investors.

Gaotu Techedu Stock Performance

Gaotu Techedu stock traded up $0.10 during mid-day trading on Monday, hitting $2.77. 1,492,835 shares of the company traded hands, compared to its average volume of 2,397,265. The stock has a fifty day moving average price of $3.06 and a 200-day moving average price of $2.83. The stock has a market cap of $719.01 million, a price-to-earnings ratio of -4.86 and a beta of 0.18. Gaotu Techedu Inc. has a one year low of $1.87 and a one year high of $8.44.

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Gaotu Techedu Company 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.