Millennium Management LLC Lowers Stock Holdings in Youdao, Inc. Unsponsored ADR (NYSE:DAO)

Millennium Management LLC trimmed its position in shares of Youdao, Inc. Unsponsored ADR (NYSE:DAO - Free Report) by 64.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,760 shares of the company's stock after selling 28,853 shares during the quarter. Millennium Management LLC's holdings in Youdao were worth $117,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Jane Street Group LLC purchased a new stake in shares of Youdao during the 4th quarter worth $119,000. Bank of America Corp DE boosted its holdings in Youdao by 13,310.0% during the fourth 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 in the last quarter. Norges Bank acquired a new position in Youdao during the fourth quarter worth about $715,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Youdao during the fourth quarter worth about $554,000. Finally, Blue Trust Inc. increased its holdings in Youdao by 29.1% in the fourth quarter. Blue Trust Inc. now owns 8,733 shares of the company's stock valued at $65,000 after buying an additional 1,969 shares in the last quarter. 21.91% of the stock is owned by hedge funds and other institutional investors.

Youdao Trading Up 1.6%

Shares of DAO stock traded up $0.14 during mid-day trading on Tuesday, reaching $8.76. The stock had a trading volume of 36,034 shares, compared to its average volume of 126,519. The company has a market cap of $1.05 billion, a P/E ratio of 48.64 and a beta of 0.34. Youdao, Inc. Unsponsored ADR has a 12-month low of $2.86 and a 12-month high of $11.82. The business has a 50-day simple moving average of $8.65 and a 200 day simple moving average of $8.15.

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 business had revenue of $191.74 million during the quarter, compared to analyst estimates of $1.30 billion. Youdao had a net margin of 2.67% and a negative return on equity of 6.87%.

Wall Street Analyst Weigh In

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

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.