BNP Paribas Financial Markets Has $1.32 Million Holdings in Gaotu Techedu Inc. (NYSE:GOTU)

BNP Paribas Financial Markets decreased its stake in Gaotu Techedu Inc. (NYSE:GOTU) by 24.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 604,092 shares of the company’s stock after selling 198,356 shares during the quarter. BNP Paribas Financial Markets owned 0.23% of Gaotu Techedu worth $1,323,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in GOTU. Catalyst Funds Management Pty Ltd acquired a new stake in Gaotu Techedu during the 4th quarter worth approximately $38,000. Two Sigma Securities LLC acquired a new stake in shares of Gaotu Techedu during the fourth quarter worth $86,000. Barclays PLC lifted its position in Gaotu Techedu by 87.8% in 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 in the last quarter. Marshall Wace LLP acquired a new position in Gaotu Techedu in the 4th quarter worth $781,000. Finally, JPMorgan Chase & Co. increased its holdings in Gaotu Techedu by 14.9% during the 3rd 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 in the last quarter. Institutional investors and hedge funds own 48.42% of the company’s stock.

Gaotu Techedu Stock Performance

Shares of Gaotu Techedu stock opened at $3.88 on Tuesday. Gaotu Techedu Inc. has a 52-week low of $1.87 and a 52-week high of $8.36. The business’s 50 day simple moving average is $3.17 and its 200 day simple moving average is $2.78. The firm has a market cap of $982.37 million, a PE ratio of -6.81 and a beta of 0.29.

Gaotu Techedu (NYSE:GOTU) last released its earnings results on Thursday, May 15th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.12. Gaotu Techedu had a negative return on equity of 37.79% and a negative net margin of 26.36%.

Gaotu Techedu declared that its board has approved a share repurchase program on Thursday, May 15th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

About Gaotu Techedu

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.