Xiangdong Chen Buys Shares of GOTU $GOTU
Key Points
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Xiangdong Chen, CEO at Gaotu Techedu Inc. ($GOTU), bought 200,000 shares at an average price of $2.24, for a total transaction of $448,000. The trade was disclosed in a Form 4 filing with the Securities and Exchange Commission.
Gaotu Techedu Inc. Stock Down 19.1%
Shares of Gaotu Techedu Inc. ($GOTU) traded around $1.52 on Saturday, down 19.1% for the day.
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About Gaotu Techedu Inc.
Gaotu Techedu Inc., a data-driven education company, provides learning services, educational content, and digitalized learning products in Mainland China. Its learning services include traditional learning services that cover academic subjects, such as mathematics, English, Chinese, physics, chemistry, biology, history, geography and political science; and non-academic tutoring services, including adolescent development, Cambridge English, international competitions and international examinations. It also offers college student and adult education services, comprising admission courses for entrance exams and interviews for postgraduate programs and civil service exams; exam preparation courses, such as IELTS and TOEFL; consulting services for those pursuing studies abroad, as well as English courses for improving language skills which includes grammar, vocabulary, and speaking; and professional courses for qualification exams, such as teacher certification. In addition, the company offers educational content products, including course outlines, courseware, practice exercises and lesson notes, and reference books, such as Chinese dictionaries and exam question compilations for the college entrance exam; and digitalized learning products, including reading apps for young learners, and AI-based writing assessment tools that offer instant feedback, as well as learning pen and tablet devices. It provides its learning offerings to learners across various age groups from primary school students to adults through online and offline courses, and AI-powered applications. The company was formerly known as GSX Techedu Inc. and changed its name to Gaotu Techedu Inc. in June 2021. Gaotu Techedu Inc. was incorporated in 2014 and is headquartered in Beijing, China.
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