Acadian Asset Management LLC Sells 115,819 Shares of Youdao, Inc. Unsponsored ADR $DAO

Key Points

• Acadian Asset Management LLC has decreased its holdings in Youdao, Inc. by 29.1%, selling 115,819 shares during the first quarter, now owning 282,688 shares valued at approximately $2.15 million.
• Other institutional investors have also made significant changes to their positions, with Walleye Capital LLC increasing their stake by 226.1% and Vident Advisory LLC raising its stakes by 190.2%.
• Youdao's stock currently has a market capitalization of $1.05 billion, with a 52-week range between $3.00 and $11.82, and analysts have recently downgraded it from a "buy" to a "hold" rating.

Acadian Asset Management LLC decreased its position in Youdao, Inc. Unsponsored ADR (NYSE:DAO - Free Report) by 29.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 282,688 shares of the company's stock after selling 115,819 shares during the period. Acadian Asset Management LLC owned about 0.23% of Youdao worth $2,150,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of DAO. Bank of America Corp DE raised its stake in Youdao by 13,310.0% during the 4th quarter. Bank of America Corp DE now owns 32,050 shares of the company's stock worth $237,000 after acquiring an additional 31,811 shares in the last quarter. Jane Street Group LLC acquired a new stake in Youdao in the fourth quarter valued at $119,000. Public Employees Retirement System of Ohio lifted its position in Youdao by 754.1% in the 4th quarter. Public Employees Retirement System of Ohio now owns 9,421 shares of the company's stock valued at $70,000 after purchasing an additional 8,318 shares during the last quarter. Vident Advisory LLC boosted its position in shares of Youdao by 190.2% during the 1st quarter. Vident Advisory LLC now owns 57,192 shares of the company's stock valued at $436,000 after purchasing an additional 37,485 shares in the last quarter. Finally, Walleye Capital LLC lifted its stake in Youdao by 226.1% during the first quarter. Walleye Capital LLC now owns 176,599 shares of the company's stock valued at $1,347,000 after buying an additional 122,450 shares in the last quarter. Institutional investors and hedge funds own 21.91% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of Youdao from a "buy" rating to a "hold" rating in a research note on Sunday, August 17th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of "Hold".

Youdao Trading Up 0.1%

Youdao stock traded up $0.01 during midday trading on Friday, reaching $8.89. The company's stock had a trading volume of 116,696 shares, compared to its average volume of 73,381. The stock has a market cap of $1.06 billion, a PE ratio of 31.75 and a beta of 0.39. The business has a 50-day moving average price of $8.89 and a 200-day moving average price of $8.60. Youdao, Inc. Unsponsored ADR has a 52 week low of $3.00 and a 52 week high of $11.82.

Youdao (NYSE:DAO - Get Free Report) last announced its earnings results on Thursday, August 14th. The company reported ($0.02) EPS for the quarter. Youdao had a net margin of 4.05% and a negative return on equity of 12.10%. The company had revenue of $197.82 million during the quarter, compared to the consensus estimate of $1.38 billion.

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.