JOYY Inc. (NASDAQ:YY) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lowered its stake in shares of JOYY Inc. (NASDAQ:YY) by 1.1% in the fourth quarter, HoldingsChannel reports. The firm owned 89,450 shares of the information services provider’s stock after selling 950 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in JOYY were worth $3,551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in YY. CWM LLC boosted its position in JOYY by 168.0% during the 3rd quarter. CWM LLC now owns 930 shares of the information services provider’s stock valued at $35,000 after purchasing an additional 583 shares during the period. DAVENPORT & Co LLC acquired a new position in JOYY during the 3rd quarter valued at approximately $210,000. Asset Management One Co. Ltd. raised its stake in JOYY by 6.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 6,786 shares of the information services provider’s stock valued at $259,000 after acquiring an additional 402 shares in the last quarter. Assetmark Inc. raised its stake in JOYY by 62.2% during the 3rd quarter. Assetmark Inc. now owns 2,226 shares of the information services provider’s stock valued at $85,000 after acquiring an additional 854 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in JOYY by 5.4% during the 3rd quarter. Principal Financial Group Inc. now owns 18,652 shares of the information services provider’s stock valued at $711,000 after acquiring an additional 963 shares in the last quarter. Institutional investors and hedge funds own 36.83% of the company’s stock.

JOYY Stock Performance

YY opened at $33.00 on Wednesday. JOYY Inc. has a one year low of $24.12 and a one year high of $43.20. The stock’s fifty day moving average is $32.26 and its 200-day moving average is $35.42. The company has a market capitalization of $2.05 billion, a PE ratio of 6.64 and a beta of 0.38.

JOYY (NASDAQ:YY) last posted its quarterly earnings data on Monday, March 18th. The information services provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. JOYY had a return on equity of 5.13% and a net margin of 13.31%. The company had revenue of $569.84 million for the quarter, compared to the consensus estimate of $572.51 million. During the same quarter in the previous year, the business earned $0.49 EPS. On average, equities research analysts forecast that JOYY Inc. will post 3.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on YY. Bank of America reaffirmed a “neutral” rating and set a $35.00 target price on shares of JOYY in a research note on Monday, March 25th. Benchmark reaffirmed a “hold” rating on shares of JOYY in a research note on Tuesday, January 2nd. Finally, StockNews.com downgraded JOYY from a “buy” rating to a “hold” rating in a research note on Monday, March 18th.

About JOYY

JOYY Inc, together with its subsidiaries, operates social media platforms that offer users engaging and experience across various video-based social platforms. The company operates Bigo Live, a social live streaming platform that allows users to live stream specific moments, such as showcase talents, socialize, and connect with other users worldwide; Likee, a short-form video social platform that focuses on enabling users to create short-form video; Hago, a multiuser social networking platform that provides casual games; imo, an instant messaging application with functions, including video calls and other communication tools, such as group calls, document sharing, etc.; and Shopline, a smart commerce enabler that provides an integrated omnichannel platform for merchants to create and grow brands online and reach customers.