Insider Selling: New Oriental Education & Technology Group (NYSE:EDU) Director Sells $33,624.30 in Stock

New Oriental Education & Technology Group, Inc. (NYSE:EDU) Director Yue Zhuge sold 570 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $58.99, for a total value of $33,624.30. Following the completion of the sale, the director owned 1,600 shares of the company’s stock, valued at approximately $94,384. This represents a 26.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Yue Zhuge also recently made the following trade(s):

• On Monday, August 3rd, Yue Zhuge sold 1,600 shares of New Oriental Education & Technology Group stock. The stock was sold at an average price of $59.55, for a total transaction of $95,280.00.

New Oriental Education & Technology Group Trading Up 0.4%

Shares of EDU opened at $59.11 on Tuesday. The company’s 50 day simple moving average is $48.12 and its 200-day simple moving average is $53.10. The firm has a market cap of $9.34 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 0.62 and a beta of 0.24. New Oriental Education & Technology Group, Inc. has a 12-month low of $44.25 and a 12-month high of $64.97.

Institutional Investors Weigh In On New Oriental Education & Technology Group

Large investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd lifted its holdings in shares of New Oriental Education & Technology Group by 7,314.3% during the third quarter. Caitong International Asset Management Co. Ltd now owns 519 shares of the company’s stock worth $28,000 after purchasing an additional 512 shares during the period. EverSource Wealth Advisors LLC raised its position in New Oriental Education & Technology Group by 106.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company’s stock worth $31,000 after buying an additional 279 shares during the last quarter. Atlas Capital Advisors Inc. purchased a new position in New Oriental Education & Technology Group during the 4th quarter worth $72,000. Raymond James Financial Inc. acquired a new stake in shares of New Oriental Education & Technology Group in the 2nd quarter worth $111,000. Finally, Leonteq Securities AG acquired a new stake in shares of New Oriental Education & Technology Group in the 4th quarter worth $155,000.

Wall Street Analyst Weigh In

EDU has been the topic of several research reports. Weiss Ratings reissued a “hold (c)” rating on shares of New Oriental Education & Technology Group in a research report on Tuesday, July 21st. New Street Research set a $56.50 target price on shares of New Oriental Education & Technology Group in a report on Thursday. The Goldman Sachs Group upgraded shares of New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $67.00 to $65.00 in a research note on Thursday, June 11th. Finally, Wall Street Zen lowered New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, New Oriental Education & Technology Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.54.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group (NYSE: EDU) is one of China’s leading providers of private educational services, specializing in language training, test preparation and consulting for overseas study. The company’s offerings span a range of subjects, including English language instruction, preparatory courses for examinations such as the TOEFL, GRE and GMAT, and K-12 after-school tutoring. New Oriental’s curriculum is delivered through a combination of in-person learning centers and digital platforms, enabling students across various regions to access its educational resources.

Founded in 1993 by Michael Yu Minhong in Beijing, New Oriental began as a small language school and quickly expanded its footprint.