DekaBank Deutsche Girozentrale Has $220,000 Stake in JOYY Inc. (NASDAQ:YY)

DekaBank Deutsche Girozentrale reduced its position in shares of JOYY Inc. (NASDAQ:YY) by 5.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,330 shares of the information services provider’s stock after selling 421 shares during the period. DekaBank Deutsche Girozentrale’s holdings in JOYY were worth $220,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Atlas Capital Advisors LLC bought a new stake in JOYY in the 2nd quarter valued at about $29,000. Blue Trust Inc. raised its position in shares of JOYY by 22,728.6% in the second quarter. Blue Trust Inc. now owns 1,598 shares of the information services provider’s stock valued at $49,000 after buying an additional 1,591 shares in the last quarter. Headlands Technologies LLC boosted its stake in shares of JOYY by 967.6% in the first quarter. Headlands Technologies LLC now owns 3,918 shares of the information services provider’s stock valued at $120,000 after buying an additional 3,551 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its position in JOYY by 16,203.9% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 12,391 shares of the information services provider’s stock worth $492,000 after buying an additional 12,315 shares in the last quarter. Finally, Prudential PLC increased its stake in JOYY by 44.3% during the 4th quarter. Prudential PLC now owns 13,555 shares of the information services provider’s stock worth $538,000 after acquiring an additional 4,162 shares during the period. 36.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

YY has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their target price on JOYY from $30.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, September 3rd. Benchmark reaffirmed a “hold” rating on shares of JOYY in a research report on Thursday, August 29th.

JOYY Price Performance

NASDAQ YY opened at $35.26 on Friday. The business has a fifty day moving average price of $34.42 and a two-hundred day moving average price of $32.75. The stock has a market capitalization of $2.01 billion, a PE ratio of 6.64 and a beta of 0.24. JOYY Inc. has a fifty-two week low of $27.88 and a fifty-two week high of $43.20.

JOYY (NASDAQ:YY) last announced its quarterly earnings data on Tuesday, August 27th. The information services provider reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.27. JOYY had a return on equity of 4.98% and a net margin of 9.53%. The business had revenue of $565.13 million during the quarter, compared to the consensus estimate of $556.82 million. As a group, sell-side analysts expect that JOYY Inc. will post 3.4 earnings per share for the current year.

JOYY Profile

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.