State of New Jersey Common Pension Fund D raised its stake in shares of GSX Techedu Inc. (NYSE:GSX) by 92.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 153,089 shares of the company’s stock after acquiring an additional 73,501 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in GSX Techedu were worth $3,347,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. California Public Employees Retirement System purchased a new position in GSX Techedu during the fourth quarter valued at $2,126,000. Exane Derivatives purchased a new position in GSX Techedu during the fourth quarter valued at $517,000. Finally, Barclays PLC purchased a new position in GSX Techedu during the third quarter valued at $73,000. 9.99% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have issued reports on the stock. UBS Group assumed coverage on shares of GSX Techedu in a report on Thursday, January 16th. They set a “buy” rating and a $40.00 price objective on the stock. Zacks Investment Research upgraded shares of GSX Techedu from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research report on Thursday, January 23rd. Goldman Sachs Group initiated coverage on shares of GSX Techedu in a research report on Tuesday, January 21st. They set a “buy” rating and a $45.00 price objective for the company. Barclays restated a “buy” rating and set a $20.00 price objective on shares of GSX Techedu in a research report on Thursday, November 7th. Finally, ValuEngine cut shares of GSX Techedu from a “buy” rating to a “hold” rating in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. GSX Techedu currently has a consensus rating of “Buy” and an average target price of $31.00.
GSX Techedu Profile
GSX Techedu Inc operates as an online education company in the People's Republic of China. The company provides online K-12 large-class after-school tutoring services. It offers English courses for children in kindergarten; and courses that help children in grade one through grade seven. The company also provides foreign language courses, including English, Japanese, and Korean, as well as English test preparation courses for students taking post-graduate entrance exams in China; and professional courses primarily for working adults preparing for professional qualification exams comprising teacher's qualification, the Chartered Financial Analyst designation, fund qualification, and securities qualification exams.
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