Fintel reports that Goldman Sachs Group has filed a 13G/A form with the SEC disclosing ownership of 7.99MM shares of GSX Techedu Inc. (GOTU). This represents 5.4% of the company.
In their previous filing dated January 27, 2022 they reported 9.10MM shares and 6.20% of the company, a decrease in shares of 12.19% and a decrease in total ownership of 0.80% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 23.13% Downside
As of February 10, 2023, the average one-year price target for GSX Techedu is $2.48. The forecasts range from a low of $1.31 to a high of $4.52. The average price target represents a decrease of 23.13% from its latest reported closing price of $3.22.
The projected annual revenue for GSX Techedu is $2,485MM, a decrease of 20.93%. The projected annual EPS is $0.67, a decrease of 24.10%.
What is the Fund Sentiment?
There are 76 funds or institutions reporting positions in GSX Techedu. This is a decrease of 11 owner(s) or 12.64% in the last quarter. Average portfolio weight of all funds dedicated to GOTU is 0.04%, an increase of 60.38%. Total shares owned by institutions decreased in the last three months by 13.58% to 34,030K shares. The put/call ratio of GOTU is 0.61, indicating a bullish outlook.
What are large shareholders doing?
Renaissance Technologies holds 4,580K shares representing 1.77% ownership of the company. In it's prior filing, the firm reported owning 6,780K shares, representing a decrease of 48.03%. The firm decreased its portfolio allocation in GOTU by 50.17% over the last quarter.
Bank Of America holds 2,313K shares representing 0.89% ownership of the company. In it's prior filing, the firm reported owning 1,765K shares, representing an increase of 23.69%. The firm decreased its portfolio allocation in GOTU by 78.51% over the last quarter.
Citigroup holds 2,012K shares representing 0.78% ownership of the company. In it's prior filing, the firm reported owning 26K shares, representing an increase of 98.72%. The firm increased its portfolio allocation in GOTU by 7,523.85% over the last quarter.
VEIEX - Vanguard Emerging Markets Stock Index Fund Investor Shares holds 2,011K shares representing 0.78% ownership of the company. No change in the last quarter.
VGTSX - Vanguard Total International Stock Index Fund Investor Shares holds 1,883K shares representing 0.73% ownership of the company. No change in the last quarter.
Gaotu Techedu Background Information
(This description is provided by the company.)
Gaotu Techedu Inc. is a technology-driven education company and leading online K-12 large-class after-school tutoring service provider in China. The Company offers K-12 courses covering all primary and secondary grades through the brand Gaotu K12 as well as foreign language, professional, admission and other courses through the brand Gaotu Professional. The Company adopts an online live large-class format to deliver its courses, which the Company believes is the most effective and scalable model to disseminate scarce high-quality teaching resources to aspiring students in China. Big data analytics permeates each aspect of the Company's business and facilitates the application of the latest technology to improve teaching delivery, student learning experience, and operational efficiency.
This story originally appeared on Fintel.
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