NetEase Inc. bought a new stake in Youdao, Inc. Unsponsored ADR (NYSE:DAO – Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,898,293 shares of the company’s stock, valued at approximately $35,649,004,000. Youdao accounts for about 4.7% of NetEase Inc.’s investment portfolio, making the stock its 2nd biggest holding. NetEase Inc. owned approximately 2.41% of Youdao as of its most recent SEC filing.
Separately, Public Employees Retirement System of Ohio grew its stake in Youdao by 35.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 29,286 shares of the company’s stock valued at $291,000 after buying an additional 7,729 shares during the last quarter. Institutional investors own 21.91% of the company’s stock.
Youdao Trading Down 0.2%
Shares of NYSE DAO opened at $18.30 on Monday. The firm’s 50-day moving average price is $14.65 and its 200-day moving average price is $12.09. Youdao, Inc. Unsponsored ADR has a 1-year low of $8.30 and a 1-year high of $18.94. The firm has a market capitalization of $2.20 billion, a P/E ratio of 91.50 and a beta of 0.59.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on the company. Weiss Ratings raised Youdao from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, July 17th. Wall Street Zen upgraded Youdao from a “hold” rating to a “buy” rating in a research report on Saturday. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Youdao has a consensus rating of “Hold”.
Check Out Our Latest Stock Report on DAO
Youdao Company Profile
Youdao, Inc (NYSE: DAO), established in 2006 as a subsidiary of NetEase, is headquartered in Beijing, China. The company went public on the New York Stock Exchange in October 2019, marking a significant milestone in its development as an intelligent learning and knowledge service provider. Since its inception, Youdao has combined cloud computing, artificial intelligence and big data analytics to create an adaptive learning ecosystem designed to meet the needs of individual learners and organizations.
At the core of Youdao’s offerings is its suite of digital dictionaries and translation tools, including the flagship Youdao Dictionary app and translation engine.
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