Vontobel Holding Ltd. Sells 2,779 Shares of JOYY Inc. $YY

Vontobel Holding Ltd. reduced its holdings in shares of JOYY Inc. (NASDAQ:YY) by 35.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,056 shares of the information services provider’s stock after selling 2,779 shares during the period. Vontobel Holding Ltd.’s holdings in JOYY were worth $210,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Krane Funds Advisors LLC boosted its position in shares of JOYY by 4.0% during the 1st quarter. Krane Funds Advisors LLC now owns 1,559,646 shares of the information services provider’s stock valued at $65,474,000 after purchasing an additional 59,565 shares in the last quarter. BRIGHT VALLEY CAPITAL Ltd lifted its stake in JOYY by 249.2% in the first quarter. BRIGHT VALLEY CAPITAL Ltd now owns 1,312,841 shares of the information services provider’s stock valued at $55,113,000 after buying an additional 936,841 shares during the period. Prudential PLC acquired a new position in JOYY in the first quarter valued at approximately $44,090,000. Canada Pension Plan Investment Board lifted its stake in JOYY by 23.7% in the first quarter. Canada Pension Plan Investment Board now owns 528,273 shares of the information services provider’s stock valued at $22,177,000 after buying an additional 101,173 shares during the period. Finally, OVERSEA CHINESE BANKING Corp Ltd increased its stake in shares of JOYY by 4,414.1% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 435,878 shares of the information services provider’s stock valued at $18,111,000 after acquiring an additional 426,222 shares in the last quarter. 36.83% of the stock is currently owned by institutional investors and hedge funds.

JOYY Trading Up 0.0%

NASDAQ YY opened at $56.18 on Thursday. The company has a fifty day simple moving average of $56.80 and a 200 day simple moving average of $49.93. JOYY Inc. has a 12-month low of $30.91 and a 12-month high of $55.31. The company has a market cap of $3.02 billion, a P/E ratio of 16.97 and a beta of 0.21.

Analysts Set New Price Targets

Separately, Citigroup reiterated a “buy” rating on shares of JOYY in a research note on Tuesday, September 2nd. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy”.

JOYY Profile

JOYY Inc, together with its subsidiaries, operates social media platforms that offer users engaging and experience across various video-based social platforms. It operates through two segments, BIGO and All Other. The company operates Bigo Live, a social live streaming platform, that provides an interactive online stage for users to host and watch live streaming sessions, share their life moments, showcase their talents, and interact with people worldwide; Likee, a short-form video social platform, which enables users to discover, create, and share short videos, with video creation tools and personalized feeds; imo, an instant messenger platform, that provides audio and video communication services; Hago, a social networking platform that offers casual games integrating social features, such as audio and video multi-user chatrooms and 3D virtual interactive party games; and Shopline, a smart commerce platform, that provides solutions and services to enable merchants in creating and growing their brands online and reach customers through various sales channels, including e-commerce platforms, social commerce, and physical retail stores.