State Street Corp Trims Stock Holdings in JOYY Inc. (NASDAQ:YY)

State Street Corp lowered its position in shares of JOYY Inc. (NASDAQ:YY) by 6.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 642,724 shares of the information services provider’s stock after selling 41,731 shares during the quarter. State Street Corp’s holdings in JOYY were worth $23,292,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Canada Pension Plan Investment Board increased its stake in shares of JOYY by 10.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 730,800 shares of the information services provider’s stock worth $21,990,000 after acquiring an additional 66,474 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in JOYY by 45.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 99,748 shares of the information services provider’s stock worth $3,615,000 after purchasing an additional 31,341 shares during the period. FMR LLC increased its stake in shares of JOYY by 4.3% during the third quarter. FMR LLC now owns 678,551 shares of the information services provider’s stock valued at $24,591,000 after purchasing an additional 28,126 shares in the last quarter. Krane Funds Advisors LLC lifted its holdings in shares of JOYY by 10.5% during the second quarter. Krane Funds Advisors LLC now owns 1,414,457 shares of the information services provider’s stock valued at $42,561,000 after purchasing an additional 134,394 shares during the last quarter. Finally, Cape Ann Asset Management Ltd boosted its position in shares of JOYY by 47.8% in the 3rd quarter. Cape Ann Asset Management Ltd now owns 476,900 shares of the information services provider’s stock worth $17,283,000 after purchasing an additional 154,200 shares in the last quarter. Institutional investors own 36.83% of the company’s stock.

JOYY Stock Up 10.5 %

NASDAQ:YY opened at $40.78 on Monday. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of 12.32 and a beta of 0.27. The company’s 50 day moving average price is $36.39 and its 200-day moving average price is $34.53. JOYY Inc. has a 52 week low of $27.88 and a 52 week high of $42.76.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Benchmark reaffirmed a “hold” rating on shares of JOYY in a research report on Thursday, August 29th. JPMorgan Chase & Co. raised their price target on JOYY from $30.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday, September 3rd.

About JOYY

JOYY Inc, together with its subsidiaries, operates social media platforms that offer users engaging and experience across various video-based social platforms. It operates through two segments, BIGO and All Other. The company operates Bigo Live, a social live streaming platform, that provides an interactive online stage for users to host and watch live streaming sessions, share their life moments, showcase their talents, and interact with people worldwide; Likee, a short-form video social platform, which enables users to discover, create, and share short videos, with video creation tools and personalized feeds; imo, an instant messenger platform, that provides audio and video communication services; Hago, a social networking platform that offers casual games integrating social features, such as audio and video multi-user chatrooms and 3D virtual interactive party games; and Shopline, a smart commerce platform, that provides solutions and services to enable merchants in creating and growing their brands online and reach customers through various sales channels, including e-commerce platforms, social commerce, and physical retail stores.