Youdao, Inc. (NYSE:DAO) Stock Position Lessened by Millennium Management LLC

Millennium Management LLC trimmed its holdings in Youdao, Inc. (NYSE:DAO - Free Report) by 64.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,760 shares of the company's stock after selling 28,853 shares during the period. Millennium Management LLC's holdings in Youdao were worth $117,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Blue Trust Inc. raised its position in shares of Youdao by 29.1% during the 4th quarter. Blue Trust Inc. now owns 8,733 shares of the company's stock valued at $65,000 after acquiring an additional 1,969 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Youdao during the 4th quarter valued at approximately $119,000. Bank of America Corp DE grew 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 buying an additional 31,811 shares during the last quarter. Walleye Capital LLC bought a new position in Youdao during the 4th quarter worth $401,000. Finally, Renaissance Technologies LLC grew its stake in Youdao by 3.3% during the 4th quarter. Renaissance Technologies LLC now owns 57,100 shares of the company's stock worth $423,000 after buying an additional 1,800 shares during the last quarter. 21.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded Youdao from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd.

Youdao Trading Up 0.8%

DAO traded up $0.07 during trading on Friday, reaching $8.80. 49,049 shares of the company were exchanged, compared to its average volume of 126,683. The stock has a market cap of $1.05 billion, a P/E ratio of 88.00 and a beta of 0.34. The firm has a 50 day moving average of $8.57 and a 200 day moving average of $8.11. Youdao, Inc. has a 52 week low of $2.86 and a 52 week high of $11.82.

Youdao (NYSE:DAO - Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The company reported $0.09 EPS for the quarter, missing analysts' consensus estimates of $0.21 by ($0.12). The company had revenue of $191.74 million for the quarter, compared to the consensus estimate of $1.30 billion. Youdao had a negative return on equity of 3.75% and a net margin of 1.50%.

Youdao Company Profile

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.