State Street Corp Has $23.29 Million Stock Position in JOYY Inc. (NASDAQ:YY)

State Street Corp lessened its holdings in JOYY Inc. (NASDAQ:YY) by 6.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 642,724 shares of the information services provider’s stock after selling 41,731 shares during the period. State Street Corp owned about 1.13% of JOYY worth $23,292,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in YY. Canada Pension Plan Investment Board boosted its holdings in JOYY by 10.0% during 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 during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of JOYY by 45.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 99,748 shares of the information services provider’s stock valued at $3,615,000 after purchasing an additional 31,341 shares in the last quarter. FMR LLC lifted its position 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 boosted its holdings in 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 worth $42,561,000 after purchasing an additional 134,394 shares during the last quarter. Finally, Cape Ann Asset Management Ltd grew its position in 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.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on YY shares. JPMorgan Chase & Co. upped their price objective on JOYY from $30.00 to $35.00 and gave the company a “neutral” rating in a research note on Tuesday, September 3rd. Benchmark restated a “hold” rating on shares of JOYY in a report on Thursday, August 29th.

JOYY Stock Up 10.5 %

Shares of YY opened at $40.78 on Monday. JOYY Inc. has a twelve month low of $27.88 and a twelve month high of $42.76. The stock has a market cap of $2.20 billion, a PE ratio of 12.32 and a beta of 0.27. The business’s 50-day moving average price is $36.39 and its 200-day moving average price is $34.53.

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.