Orbis Allan Gray Ltd Sells 637,271 Shares of Youdao, Inc. Unsponsored ADR $DAO

Key Points

• Orbis Allan Gray Ltd reduced its stake in Youdao, Inc. by 7.1% during the first quarter, now holding approximately $63.63 million in shares.
• Bank of America Corp DE significantly increased its position in Youdao by 13,310%, now owning 32,050 shares valued at $237,000.
• Wall Street analysts have downgraded Youdao's rating from "buy" to "hold," reflecting cautious sentiment about the stock's future performance.

Orbis Allan Gray Ltd trimmed its stake in shares of Youdao, Inc. Unsponsored ADR (NYSE:DAO - Free Report) by 7.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,339,388 shares of the company's stock after selling 637,271 shares during the period. Orbis Allan Gray Ltd owned about 6.90% of Youdao worth $63,630,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in DAO. Walleye Capital LLC raised its holdings in shares of Youdao by 226.1% during the first quarter. Walleye Capital LLC now owns 176,599 shares of the company's stock worth $1,347,000 after acquiring an additional 122,450 shares during the period. Marshall Wace LLP acquired a new stake in Youdao in the 4th quarter valued at $479,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in Youdao by 83.5% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 137,456 shares of the company's stock valued at $1,049,000 after buying an additional 62,568 shares during the last quarter. Vident Advisory LLC increased its stake in Youdao by 190.2% in the 1st quarter. Vident Advisory LLC now owns 57,192 shares of the company's stock valued at $436,000 after buying an additional 37,485 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in Youdao by 13,310.0% in the 4th quarter. Bank of America Corp DE now owns 32,050 shares of the company's stock valued at $237,000 after buying an additional 31,811 shares during the last quarter. 21.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Youdao Trading Up 3.1%

Shares of DAO traded up $0.26 during midday trading on Wednesday, reaching $8.71. The stock had a trading volume of 121,674 shares, compared to its average volume of 121,798. The firm has a 50 day simple moving average of $8.84 and a 200-day simple moving average of $8.67. Youdao, Inc. Unsponsored ADR has a one year low of $3.00 and a one year high of $11.82. The firm has a market cap of $1.04 billion, a PE ratio of 31.11 and a beta of 0.39.

Youdao (NYSE:DAO - Get Free Report) last announced its quarterly earnings data 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 firm 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.