State Street Corp Cuts Stock Position in Youdao, Inc. (NYSE:DAO)

State Street Corp cut its holdings in shares of Youdao, Inc. (NYSE:DAO) by 54.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,991 shares of the company’s stock after selling 40,213 shares during the period. State Street Corp’s holdings in Youdao were worth $137,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Renaissance Technologies LLC increased its stake in Youdao by 6.7% during the second quarter. Renaissance Technologies LLC now owns 52,300 shares of the company’s stock worth $205,000 after purchasing an additional 3,300 shares during the period. Acadian Asset Management LLC grew its position in shares of Youdao by 98.4% during the second quarter. Acadian Asset Management LLC now owns 238,445 shares of the company’s stock worth $928,000 after buying an additional 118,245 shares in the last quarter. Finally, Symmetry Peak Management LLC acquired a new position in shares of Youdao during the third quarter worth about $102,000. 21.91% of the stock is currently owned by hedge funds and other institutional investors.

Youdao Stock Performance

Shares of Youdao stock opened at $7.08 on Friday. Youdao, Inc. has a one year low of $2.86 and a one year high of $8.01. The company has a market cap of $856.11 million, a PE ratio of 101.14 and a beta of 0.04. The business has a 50-day simple moving average of $6.24 and a 200-day simple moving average of $4.63.

Analyst Upgrades and Downgrades

Separately, Citigroup downgraded Youdao from a “buy” rating to a “neutral” rating in a research report on Thursday, December 19th.

About Youdao

Youdao, Inc, an internet technology company, provides online services in the field of content, community, communication, and commerce in China. It operates through three segments: Learning Services, Smart Devices, and Online Marketing Services. The company provides various learning content, applications, and solutions, which cover topics and target people from various age groups for their learning needs through its websites and mobile applications.