Insider Selling: New Oriental Education & Technology Group (NYSE:EDU) Director Sells $3,236,354.84 in Stock

New Oriental Education & Technology Group, Inc. (NYSE:EDU) Director Chenggang Zhou sold 56,948 shares of New Oriental Education & Technology Group stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $56.83, for a total transaction of $3,236,354.84. Following the transaction, the director directly owned 429,998 shares in the company, valued at $24,436,786.34. This trade represents a 11.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Chenggang Zhou also recently made the following trade(s):

• On Friday, August 7th, Chenggang Zhou sold 13,052 shares of New Oriental Education & Technology Group stock. The shares were sold at an average price of $56.32, for a total transaction of $735,088.64.

New Oriental Education & Technology Group Price Performance

New Oriental Education & Technology Group stock opened at $58.13 on Tuesday. The firm has a 50 day simple moving average of $49.15 and a 200-day simple moving average of $53.15. The stock has a market cap of $9.19 billion, a price-to-earnings ratio of 19.64, a price-to-earnings-growth ratio of 0.60 and a beta of 0.24. New Oriental Education & Technology Group, Inc. has a 1-year low of $44.25 and a 1-year high of $64.97.

Analysts Set New Price Targets

Several brokerages recently weighed in on EDU. The Goldman Sachs Group upgraded New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $67.00 to $65.00 in a research report on Thursday, June 11th. New Street Research set a $56.50 price target on New Oriental Education & Technology Group in a research note on Thursday, July 30th. Wall Street Zen cut New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of New Oriental Education & Technology Group in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $64.54.

Institutional Trading of New Oriental Education & Technology Group

Several hedge funds have recently made changes to their positions in EDU. AIA Group Ltd boosted its holdings in New Oriental Education & Technology Group by 185.2% in the first quarter. AIA Group Ltd now owns 93,342 shares of the company’s stock valued at $5,286,000 after purchasing an additional 60,611 shares during the period. Aubrey Capital Management Ltd purchased a new stake in New Oriental Education & Technology Group during the 1st quarter worth about $9,888,000. Lazard Asset Management LLC purchased a new stake in New Oriental Education & Technology Group during the 1st quarter worth about $18,528,000. Swedbank AB raised its position in New Oriental Education & Technology Group by 52.0% in the 4th quarter. Swedbank AB now owns 35,651 shares of the company’s stock valued at $1,962,000 after purchasing an additional 12,200 shares in the last quarter. Finally, Amundi raised its position in New Oriental Education & Technology Group by 14.4% in the 1st quarter. Amundi now owns 507,774 shares of the company’s stock valued at $28,755,000 after purchasing an additional 63,845 shares in the last quarter.

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.