California Public Employees Retirement System cut its holdings in Gaotu Techedu Inc. (NYSE:GOTU – Free Report) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 271,147 shares of the company’s stock after selling 8,343 shares during the quarter. California Public Employees Retirement System owned approximately 0.10% of Gaotu Techedu worth $982,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the business. Vanguard Personalized Indexing Management LLC acquired a new stake in Gaotu Techedu in the 3rd quarter valued at about $29,000. QRG Capital Management Inc. bought a new stake in shares of Gaotu Techedu during the third quarter valued at approximately $76,000. Barclays PLC lifted its holdings in Gaotu Techedu by 97.1% during the 3rd quarter. Barclays PLC now owns 102,511 shares of the company’s stock worth $283,000 after buying an additional 50,511 shares in the last quarter. Acadian Asset Management LLC boosted its position in Gaotu Techedu by 16.4% in the 3rd quarter. Acadian Asset Management LLC now owns 4,445,239 shares of the company’s stock valued at $12,248,000 after buying an additional 625,976 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Gaotu Techedu in the 3rd quarter valued at $3,300,000. 48.42% of the stock is owned by institutional investors.
Gaotu Techedu Price Performance
GOTU opened at $6.98 on Monday. The firm has a 50 day simple moving average of $6.92 and a 200 day simple moving average of $4.61. Gaotu Techedu Inc. has a fifty-two week low of $2.22 and a fifty-two week high of $8.42. The company has a market cap of $1.82 billion, a price-to-earnings ratio of -697.30 and a beta of 0.07.
Wall Street Analyst Weigh In
Separately, CLSA raised Gaotu Techedu from an “underperform” rating to an “outperform” rating and set a $8.65 price target on the stock in a research note on Wednesday, February 28th.
View Our Latest Report on GOTU
About Gaotu Techedu
Gaotu Techedu Inc, a technology-driven education company, provides online K-12 after-school tutoring services in the People's Republic of China. The company provides foreign language courses comprising English and Japanese, as well as test preparation courses for students taking language certification exams; and professional courses primarily for college students and adults preparing for professional qualification exams, such teacher's qualification, Chartered Financial Analyst designation, Certified Public Accountant designation, Certified Tax Agent designation, securities qualification exams, and other exams.
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